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Top four Japanese casualty insurers to face antitrust fines of more than $13 million for price cartels

By Sachiko Sakamaki ( August 8, 2024, 08:31 GMT | Insight) -- Japan’s top four damages-and-casualty insurance companies are set to face total fines of more than 2 billion yen for their role in a series of price cartels involving large corporate policies. The companies — Tokio Marine & Nichido Fire Insurance, Mitsui Sumitomo Insurance, Aioi Nissay Dowa Insurance and Sompo Japan — are suspected of having cartelized insurance policies with Japan’s largest power-generation company JERA, Cosmo Oil, electronics maker Sharp, and the Japan Organization for Metals and Energy Security.Japan’s top four damages-and-casualty insurance companies are set to face total fines of more than 2 billion yen ($13.7 million) for their role in a series of price cartels involving large corporate policies....

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