• Kyodo News


An insurance sales agent swindled a huge amount of commissions from Axa Life Insurance Co. and other life insurers via fraudulent sales of policies to corporate customers, sources said Friday.

Shinwa Sogo Lease, which went bankrupt in December, fraudulently received in transactions since 2006 several billion yen in commissions from Axa Life, a Japanese unit of Axa SA, France’s largest insurer, and at least ¥1.9 billion from Mitsui Sumitomo Kirameki Life Insurance Co. in 2004 alone, they said.

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