• SHARE

Aioi Insurance Co. and Culture Convenience Club Co., the operator of Japan’s largest video rental chain, Tsutaya, said Monday they have agreed to begin preparations to set up a joint casualty insurance firm with an eye to cashing in on Tsutaya’s large customer base.

CCC said it will begin by offering automobile insurance policies, as many of the 18.44 million people who are registered with the Tsutaya chain drive.

In making the preparations for joint business, CCC and Aioi will take advantage of the CCC group’s resources and Aioi’s knowhow and experience in nonlife insurance operations and policy developments, the two said.