TOKYO -- Japan's Financial Services Agency urged four leading casualty insurers to accelerate divestment of their cross-shareholdings, Nikkei learned Friday, as a price-fixing scandal fuels greater scrutiny of their business practices.
Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance have a combined 5,900 strategic shareholdings totaling 6.5 trillion yen ($43.5 billion), including stakes in Toyota Motor and other blue chips.
