Marine & Fire Insurance Co., Nippon Fire & Marine Insurance Co. and Koa Fire & Marine Insurance Co. formally announced Tuesday they will form a holding company by April 2002 to create the nation's largest nonlife insurer.

Presidents of the three nonlife insurers told a news conference that the move is intended to create a "globally competitive and comprehensive" provider of nonlife insurance, life insurance, asset management and other financial services.

Counter to many expectations, the announced alliance does not include Sumitomo Marine & Fire Insurance Co., the fourth-largest nonlife provider. But Nippon Fire President Ken Matsuzawa acknowledged that the three remain in talks with Sumitomo on possible participation in the alliance. He declined to give a clear deadline.