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Japan’s ailing Fuji Fire & Marine Insurance Ltd. has reached an agreement with American International Group, and Orix Corp., Japan’s largest leasing company, to provide additional capital of 34.4 billion yen ($256.3 million).

ÌìÃÀÍøÕ¾´«Ã½´«Ã½, whose AIU unit already has a stake in Fuji, will increase its shareholding to around 22.14 percent when new shares are issued, as will Orix. Both companies plan to participate in Fuji’s management.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ is already the largest foreign insurer in the Japanese p/c market, which generates around $100 billion a year, second only to the U.S. The acquisition of an additional stake in Fuji will further strengthen its position.

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