• Kyodo

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Sompo Japan Nipponkoa Insurance Inc. is ready to trim car insurance premiums for the first time in more than 11 years, thanks to solid earnings and increased competition from online insurers, company sources said Monday.

The company last reduced premiums in January 2004, by 1.0 percent on average, and had raised them five times through 2014, by about 1 to 3 percent each time. The reduction planned from October would see them reduced by an average of just 0.2 percent.

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