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.
Insurance
Japan casualty insurers suspected of widespread policy price-fixing
Alleged cartel affects dozens of policies sold to oil refiners, steelmakers
Mitsui Sumitomo Insurance, Sompo Japan Insurance and Tokio Marine & Nichido Fire Insurance allegedly colluded on setting premiums for clients such as Tokyu. (Source photos by Nikkei)
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