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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Japan's three major non-life insurers eye merger: report AFP - 2 hours 33 minutes ago TOKYO (AFP) - - Mitsui Sumitomo Insurance Group Holdings and its two rivals are considering an integration of their operation to become Japan's biggest non-life insurer, a news report said Sunday. Mitsui Sumitomo, the nation's second largest non-life insurer, is negotiating with Aioi Insurance and Nissay Dowa General Insurance on the integration, Japan's public broadcaster NHK said, quoting unnamed sources. Their negotiations are at "the final stage," NHK said, adding that the three firms hope to reach a basic accord as early as January so they can integrate their operation under a single holding company later next year, it said. The three are also considering a complete merger in the future as part of a joint effort to strengthen their operation to cope with the global financial crisis, NHK said. If a merger goes ahead, the new group would be the nation's largest non-life insurer with a total of 2.7 trillion yen (30 billion dollars) in insurance revenue, topping that of the current number one, Tokio Marine Holdings, said the broadcaster. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Wave of layoffs dashes Japanese myth of job for lifeAFP - 2 hours 28 minutes ago Japan's three major non-life insurers eye merger: reportAFP - 2 hours 33 minutes ago GCC summit eyes common currencyAP - Monday, December 29 HK's Greentown says not investing in Japan's PacificReuters - Monday, December 29 Related Articles: Business Wall St. faces record losses in last week of 2008AP - 1 hour 41 minutes ago Gulf rulers will approve FX union pact -GCC secgenReuters - 1 hour 52 minutes ago Kuwait scraps joint venture with Dow ChemicalAP - 1 hour 57 minutes ago SNAPSHOT - Financial Crisis - 1600 GMTReuters - 2 hours 1 minute ago FACTBOX-Kuwait scraps $17.4 bln Dow Chemical joint ventureReuters - 2 hours 5 minutes ago Enlarge Photo Japan's three major non-life insurers eye merger: report Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Woolworths to close quarter of stores Chances of gas cut '50-50', Russia warns Ukraine At least 210 dead as Israel hammers Hamas-run Gaza Stars of Hollywood, high-tech open wallets for Obama party View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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