Yasuda Mutual Life Insurance Co. and Fukoku Mutual Life Insurance Co. said Thursday they will jointly develop and sell third-sector insurance products in April.
The move constitutes a response to demand growth in areas falling between the life and nonlife insurance sectors. Typical third-sector products include cancer and injury insurance policies.
The two insurers also said they will integrate financial, medical and other services available to their cardholders in late October.
While the joint undertakings are part of a wide-ranging tieup between Yasuda and Fukoku, the insurers said they have no intention of integrating management.