OSAKA (Kyodo) Daido Life Insurance Co. will tie up with Bank of Tokyo-Mitsubishi to provide loan-related clerical work on the bank’s behalf, Daido officials said Friday.
The arrangement would mark the first time an insurer has acted as an agent for a bank on the basis of the previous year’s revision of the Banking Law, which authorizes such arrangements.
With the tieup, Daido Life would be able to enhance services to the small and midsize firms that constitute one of its key customer bases.
In turn, BTM would receive more opportunities to increase lending to such companies.
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