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Heads of top Japanese insurers plan to pursue mergers and acquisitions abroad as they expect the domestic market to shrink, according to interviews, reported The Japan Times citing Kyodo News.
Tokio Marine Holdings Inc. president Tsuyoshi Nagano said that the insurer is "always looking for (M&A deals) in Asia and Latin America, including Mexico."
MS&AD Insurance Group Holdings Inc. president Yasuyoshi Karasawa said the insurer is "aiming for M&A deals in the United States."
"We'd like to expand our businesses in emerging markets as well and further raise our profile," Mr. Karasawa added.