Sompo Japan and Nipponkoa merge to form Japan's largest nonlife insurer
Posted On: Sep. 3, 2014 12:00 AM CSTA new nonlife insurer – Sompo Japan Nipponkoa Insurance Inc. – has been established through a merger of Sompo Japan Insurance Inc. and Nipponkoa Insurance Co. Ltd. in Japan, reported Mainichi.
The company is now the country's largest nonlife insurer, leaving Tokio Marine & Nichido Fire Insurance Co. Ltd. behind.
The net premium revenue of the new entity was 2.08 trillion Japanese yen ($20 billion) in fiscal year 2013-14.