AIG, Fuji Fire Align in Non-Life Insurance

Japan’s Fuji Fire & Marine has agreed with a Japanese subsidiary of American International Group to align in the non-life insurance field. The move could strengthen Fuji’s product development and marketing in Japan’s fiercely competitive insurance market.

Fuji plans to allot 10.3 million shares through a third-party stock allocation to the AIG unit, and will buy roughly the same amount of AIG shares.