Japan Insurer Anti-competitive Activity

Japan ordered four major non-life insurance companies to improve business practices in connection with anti-competitive activity that aimed to keep premiums high. The order was issued to Aioi Nissay Dowa Insurance, Sompo Japan Insurance, Tokio Marine & Nichido and Mitsui Sumitomo Insurance.

The four had been asked to report to the regulator on whether they engaged in prior consultations with each other when preparing contracts for clients. The four insurers said they take the government order seriously and will work to restore trust.

The four insurers engaged widely in activities that were incompatible with the spirit of Japan’s antitrust law.