Tokio Marine & Fire Insurance Co. will take a one-third stake in Nisshin Fire & Marine Insurance Co. by March 2005, the nonlife insurers said Thursday.
The announcement marks the end to the first round of industry consolidation that began in 1999.
Nisshin Fire was the last major nonlife insurer to enter the frenzy to reorganize the sector following the government's liberalization of insurance premiums four years ago.