Japan casualty insurers suspected of widespread policy price-fixing

TOKYO -- Japanese casualty insurers are suspected of having colluded to set premiums for a number of corporate customers, including oil and steel companies, multiple sources familiar with the situation told Nikkei, suggesting a possibly widespread price-fixing practice in the industry.

Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance have already been ordered by the Financial Services Agency to look into alleged price-fixing for policies sold to railway operator Tokyu and report their findings.