A temporary ban on part of Sompo Japan Insurance Inc.’s business operations, ordered by the Financial Services Agency, took effect Monday as punishment for financial irregularities.
Under the FSA order issued May 25, Sompo Japan is now barred from soliciting orders for or selling its auto insurance and other mainstay products through June 25 at all branches.
Sompo Japan is also prohibited until July 11 from selling products of life insurance firms it has tied up with.
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