Mitsui Sumitomo Insurance, Aioi and Nissay Dowa Merge

Mitsui Sumitomo Insurance Group Holdings Inc., Aioi Insurance Co. and Nissay Dowa General Insurance Co. reached an agreement on their business integration. The companies plan to integrate operations next April under a holding company named MS&AD Insurance Group Holding Inc. It will be Japan's largest non-life insurance company by premium revenue. Mitsui Sumitomo President Toshiaki Egashira will become the holding company's president.