TOKYO -- Four major Japanese nonlife insurance companies will sell their entire cross-shareholdings worth about 6.5 trillion yen (around $43 billion) over the next few years, following a price-fixing scandal that has heightened scrutiny of their business practices, Nikkei learned Wednesday.
Insurance
Japan casualty insurers to sell entire cross-shareholdings worth $43bn
Unloading to take place over several years in response to collusion scandal
Four major nonlife insurers in Japan have been under pressure from the country's Financial Services Agency to accelerate sales of their cross-held shares.
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