In the latest round of consolidation in the insurance sector, Tokio Marine & Fire Insurance Co., Asahi Mutual Life Insurance Co. and Nichido Fire & Marine Insurance Co. announced Monday they have agreed to a comprehensive tieup, with a view toward integrating their management in the future.
The three companies will bring together a total of 90,605 sales representatives and 29,623 sales offices to form the industry's largest sales network.
But when and in what form the alliance will take place remains on the drawing board, said Kokei Higuchi, president of Tokio Marine.