Japan's largest insurers, including Tokio Marine, MS&AD, and Sompo, plan to sell cross-shareholdings worth over 6 trillion yen, following the government's recommendation.

Japan's largest insurers, including Tokio Marine Holdings, MS&AD Insurance Group, and Sompo Holdings, are set to sell their cross-shareholdings, worth over 6 trillion yen ($40 billion), after the government urged them to abandon the decades-old practice. The cross-shareholdings have been criticized for being inefficient uses of capital and impacting companies' financial positions and shareholder structures.

February 28, 2024
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