Subsidiaries of Sompo Japan Nipponkoa Insurance to merge
Two subsidiaries of Sompo Japan Nipponkoa Insurance will merge as the companies seek to address “challenges” in the property/casualty insurance industry in Japan and create efficiencies and improved profits.
Saison Automobile & Fire Insurance and Sonpo 24 Insurance Company will merge in July 2019. The companies said the decision was made after an extensive study. Saison Automobile & Fire, which has high competitiveness in the direct automobile insurance market, will act as the merging company.
After the merger, the new company will focus on its core product of “Otona no Jidosha Hoken (automobile insurance),” in accordance with the basic management policy, business strategy and business model of the merging company, Saison Automobile & Fire.
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