Mitsui Marine & Fire Insurance Co. will set up a representative office in Budapest to cultivate the emerging market of Eastern Europe, the company said Monday.
Mitsui Marine will be the first Japanese nonlife insurer to have an office in Eastern Europe, it said. The new representative office is to gather local information and help Japanese firms operating in the region contact local nonlife insurers. For the time being, Mitsui Marine will engage in reinsurance business there and not sell its own products, it said.