Chiyoda Mutual Life Insurance Co. filed for court protection from creditors Monday with liabilities of 2.94 trillion yen -- the biggest failure in Japan's insurance industry since the war.
American International Group Inc., a U.S. insurance and financial services giant, said it is ready to support the firm's rehabilitation.
Chiyoda, the nation's 12th-largest life insurer in terms of assets, became the fifth insurer to collapse in the past four years.