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.
Insurance
Japan tells casualty insurers to unwind cross-holdings amid scandal
Potential for market distortion raises alarms following price-fixing allegations
Japan's four leading casualty insurers have 5,900 strategic shareholdings totaling $43 billion. (Source photos by Nikkei)
Read Next
Latest on Insurance
