Slowing premium growth may force Japan’s insurance companies to seek more takeovers abroad to counter declining profits in the world’s most rapidly aging country.

The seven biggest casualty insurers, including Tokio Marine Holdings Inc., this week reported a combined first-quarter profit of ¥70.8 billion, 37 percent lower than a year ago. Net premium income fell 0.6 percent on declining demand for auto insurance because fewer people drive.

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