All the headlines from our Japan Topic Page, ordered by recency.
Mar 12 2009 // Japanese non-life insurers Sompo Japan Insurance and NipponKoa Insurance plan to merge, an industry source said, in the second deal in less than two months in a sector struggling with slumping demand and a dwindling,...
Mar 12 2009 // Standard & Poor’s Ratings Services has said that a management consolidation plan between Sompo Japan Insurance Inc. (AA-/Stable/–) and NIPPONKOA Insurance Co. Ltd. (A+/Stable/–) could impact its...
Mar 10 2009 // Last week, Michigan Insurance Commissioner Ken Ross met with Japanese officials to discuss how the agency regulates automobile insurance in Michigan.The Michigan officials met with Kunio Nakajima, director of Government...
Feb 25 2009 // Three potential bidders remain interested in the sale of a large stake in American International Group’s $20 billion Asian life insurance unit, people close to the matter said on Wednesday, as the auction heads into...
Feb 20 2009 // Prudential Financial Inc. is leading the race to buy two Japanese life insurers put on sale by American International Group Inc. in a deal due to close next week, sources familiar with the matter said on Friday.AIG Edison...
Jan 20 2009 // The UK launched a second bank rescue plan on Monday. One of the recipients, Royal Bank of Scotland, said it lost over £20 billion ($29.3 billion) last year and Japan said bad loans worldwide had further to climb. The...
Dec 29 2008 // Japan’s Mitsui Sumitomo Insurance Group Holdings Inc, Aioi Insurance Co and Nissay Dowa General Insurance Co are in talks to merge, a company source said, in a move that would create the country’s largest...
Dec 23 2008 // A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and the issuer credit ratings (ICR) of “a” of Aspen Insurance UK Limited (AIUK) and Bermuda-based Aspen Insurance Limited...
Dec 10 2008 // AIR Worldwide Corporation announced that it has updated its probabilistic catastrophe risk models for Japan. AIR said the “enhanced models will improve the management of earthquake and typhoon risk in Japan. The AIR...
Dec 10 2008 // Insurance firms Axa S.A., MetLife Inc. and Prudential Plc., as well as China’s sovereign wealth fund CIC, are all in talks to buy a unit of U.S. insurance firm American International Group in a deal that is likely to...
Dec 9 2008 // Prudential Financial Inc., Manulife Financial Corp. and three other firms are expected to place competing bids for two Japanese life insurers put up for sale by American International Group Inc, people familiar with the...
Nov 24 2008 // China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on...
Nov 21 2008 // A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG, in a deal that could be worth up to $10.6 billion, Japan’s...
Nov 21 2008 // Philadelphia Consolidated Holding Corp. reported that the Financial Services Agency of Japan has approved its acquisition by Tokio Marine Holdings, Inc.Tokio Marine is acquirinsg all outstanding shares of the insurer for...
Nov 17 2008 // Somali pirates have released a chemical tanker, the Stolt Valor, after they received a $1.1 million ransom, a regional maritime official said on Sunday.Two other ships could be released before Nov. 25 because negotiations...
Oct 10 2008 // The global credit crisis claimed its first Japanese financial institution on Friday and the government looked to prop up smaller banks, as Tokyo shares suffered their biggest rout since a 1987 crash.Government ministers...
Oct 6 2008 // Embattled insurer American International Group Inc. said it will sell three of its Japanese life insurance businesses.As part of its effort to pay off a massive U.S. government loan, AIG has decided to unload Alico Japan,...
Oct 6 2008 // For the moment, giant American International Group (AIG) lives on government life support, for which it’s paying 850 basis points (8.5 percent) over LIBOR, effectively 11.4 percent, on an $85 billion loan.“My...
Oct 2 2008 // A Japanese insurer that is a unit of troubled American International Group Inc. has received 90.7 billion yen (US$872 million) in additional funds to bolster its financial strength, the company said Tuesday.Alico Japan...
Sep 23 2008 // Architects of a $700 billion bailout plan urged U.S. lawmakers to act swiftly or face dire economic consequences as global stock markets fell for a second day on growing concern the rescue may be delayed.But financial...