SOMPO JAPAN MAY BECOME HOLDING COMPANY

Japan-based insurer Sompo Japan could change its corporate structure to that of a holding company as soon as next year, reports Nikkei , without citing sources. The insurer is thought to be looking to expand its life and asset management businesses within the holding company structure in order to compete with Tokio Marine Holdings and Mitsui Sumitomo Group Holdings. Sompo Japan, Sompo Japan Himawari Life Insurance, Sompo Japan Asset Management Co and other group members, would be candidates to come under the holding company’s parentage, the report claimed.