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Japan Regulator Issues Warnings to Insurance Companies of Price-Fixing Collusion in Contracts for Corporate Clients & Issued Business Improvement Orders, Insurers Named Include Sompo Japan Insurance, Tokio Marine Holdings, Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance & MS&AD Insurance Group Holdings
27th December 2023 | Hong Kong
Japan regulator has issued warnings to insurance companies (Property & Casualty) of price-fixing collusion in contracts for corporate clients & issued business improvement orders, with the insurers named include Sompo Japan Insurance, Tokio Marine Holdings, Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance & MS&AD Insurance Group Holdings. The Japan Financial Services Agency (FSA) has issued business improvement orders to Tokio Marine Holdings, MS&AD Insurance Group Holdings and Sompo Holdings, with the 3 insurers owning around 90% market share.
“ Japan Regulator Issues Warnings to Insurers of Price-Fixing Collusion in Contracts for Corporate Clients & Issued Business Improvement Orders, Insurers Named Include Sompo Japan Insurance, Tokio Marine Holdings, Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance & MS&AD Insurance Group Holdings “
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Japan Regulator Issues Warnings to Insurance Companies of Price-Fixing Collusion in Contracts for Corporate Clients & Issued Business Improvement Orders
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