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Daiichi Mutual Fire and Marine Insurance Co. ceased operations on government orders, after the company was unable to pay accumulated debts which exceeded its assets by $485.5 million. It was the first Japanese p/c insurer to do so since World War II.

Analysts said that the relatively small company’s failure was not likely to affect the overall Japanese p/c market, which they characterized as “fundamentally sound.”

Topics Carriers Property Casualty