Tag - sompo



Execs at four major Japanese insurers, including Tokio Marine & Nichido Fire Insurance, will take pay cuts over price fixing.
BUSINESS / Companies
Mar 1, 2024
Four general insurance firms punish 132 people over price-fixing
The four general insurers, including Tokio Marine & Nichido Fire Insurance, also submitted business improvement plans to the Financial Services Agency.
Sompo Holdings' Kengo Sakurada is planning to step down as the company's CEO at the end of March.
BUSINESS / Companies
Jan 23, 2024
Sompo Holdings' CEO to resign over handling of Bigmotor wrongdoing
The Financial Services Agency has ended its on-site inspections of Sompo Holdings and Sompo Japan and is expected to issue business improvement orders.
The Tokio Marine & Nichido Building in the Marunouchi district of Tokyo
BUSINESS / Companies
Dec 26, 2023
Japan penalizes biggest property insurers for price fixing
The Financial Services Agency has issued business improvement orders on the core units of Tokio Marine, MS&AD Insurance and Sompo.
An office of Tokio Marine & Nichido Fire Insurance in Tokyo in 2016.
BUSINESS / Companies
Dec 19, 2023
FTC inspects nonlife insurers over alleged joint contract cartel
The on-site probes follow reports the firms prearranged premiums for joint insurance contracts with corporate and public entities.
A Bigmotor outlet in Tama, Tokyo
BUSINESS / Companies
Oct 24, 2023
Transport ministry orders Bigmotor to halt operations at 34 shops
Twelve of the shops had their licenses to carry out private vehicle inspections revoked.
Whistleblower reports on Bigmotor's fraudulent activities prompted Sompo Japan and two other major nonlife insurers to suspend customer referrals to Bigmotor in June last year, but Sompo Japan soon resumed the referrals.
Oct 11, 2023
Panel raps Sompo Japan's resumption of business with Bigmotor
The report said the resumption of business was caused by concerns among Sompo Japan execs about possibly losing deals with Bigmotor to rivals.
Financial Services Agency officials enter Bigmotor's Tama outlet in western Tokyo on Tuesday.
JAPAN / Crime & Legal
Sep 19, 2023
Watchdog starts on-site probe of Bigmotor and Sompo Japan
The investigation aims to dig deeper into the insurance fraud scandal by the leading used-car dealer. The probe is likely to take several months.
Sompo Japan Insurance President Giichi Shirakawa apologizes during a news conference in Tokyo on Friday.
BUSINESS / Companies
Sep 8, 2023
Sompo Japan president to resign for Bigmotor insurance fraud scandal
The insurer's close relationship with the used car dealership has come under scrutiny since the firm was found to have made fraudulent insurance claims.
The Financial Services Agency's headquarters in Tokyo. The agency is expected to order four major insurers to submit records of contracts for which they allegedly arranged premium levels to avoid competition.
Aug 3, 2023
Japan insurers suspected of price-fixing for corporate contracts
Dozens of suspected price-fixing cases surfaced after employees were asked to report suspected antitrust business activities.
Transport ministry officials leave a Bigmotor dealership in Nagoya on Friday after conducting on-site inspections.
BUSINESS / Companies
Jul 31, 2023
Bigmotor suspected of fabricating insurance contracts
The news came on top of an investigation report that showed employees padded maintenance fee claims to insurance firms by deliberately damaging cars.
Japan Times
Jan 18, 2023
Japan firm defends Van Gogh ownership after lawsuit
The artwork was purchased by the predecessor of insurance firm Sompo Holdings at Christie's in London for $40 million, making it briefly the world's most expensive painting.
Japan Times
BUSINESS / Companies
Jul 26, 2022
Japanese insurers sell heatstroke coverage during sizzling summer
Sompo Holdings and Sumitomo Life Insurance, two of the country's biggest insurers, are offering policies specifically designed to cover medical expenses arising from heatstroke.
Japan Times
BUSINESS / Companies
Nov 18, 2019
Peter Thiel's Palantir announces $150 million joint venture with Japan's Sompo Holdings
The new data-mining firm gets a splashy Tokyo inauguration and will target government and public sector customers, initially emphasizing health and cybersecurity.
Japan Times
Apr 5, 2018
Companies more willing to give their smokers a kick in the butts
Instead of letting employees light up as usual, Japanese companies are getting creative in encouraging their smokers to kick the habit, with some even introducing total bans or extra paid holidays for nonsmokers.
Japan Times
Oct 31, 2017
More Japanese firms introducing anti-smoking measures, including incentives
An increasing number of companies are stepping up efforts to protect employees from the health hazard of cigarettes as the central and local governments study measures to curb the public's exposure to secondhand smoke.
Japan Times
Oct 5, 2017
Firms pitch part-time work-at-home as way to ease leave-takers' return to office life
Michika Kato, 27, a mother of a 1-year-old boy, works for up to two hours on her computer at home while her baby is playing on his own or sleeping.
BUSINESS / Companies
Oct 5, 2016
Insurer Sompo to buy Endurance for $6.3 billion
Sompo Holdings Inc. agreed to buy Bermuda-based insurer Endurance Specialty Holdings Ltd. for about $6.3 billion (¥637.5 billion), in the company's biggest acquisition as it expands further outside Japan.
Japan Times
May 31, 2016
A liberating walk through the woods
Painters and trees have a lot in common. Both are light-catchers: the painter looks at the world around him and tries to capture it, while a tree catches the light in order to grow. Trees are also part of the world that many artists see and often depict. So, there is quite a lot of synergy at the Togo...
Japan Times
Feb 16, 2016
'Face 2016: Sompo Japan Nipponkoa Art Award Exhibiton'
Feb. 20-March 27
BUSINESS / Companies
Dec 18, 2015
Nonlife insurer Sompo Japan to acquire nursing home operator Message
Nonlife insurer Sompo Japan Nipponkoa Holdings Inc. plans to acquire nursing home operator Message Co., company officials said Friday, as part of efforts to diversify its sources of revenue in a market being squeezed by population decline.


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