Top Japanese insurers focus on overseas business to grow

Japan-based The Toa Reinsurance Co. Ltd. said that the three largest non-life insurers in the country, Mitsui Sumitomo Insurance Co. Ltd., Sompo Holdings Inc., and Tokio Marine Holdings, Inc., are looking at overseas business to drive growth, Asia Insurance Review reported. These insurers have pursued initiatives such as establishing business alliances with international insurers and mergers and acquisitions.