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UNOFFICIAL TRANSLATION
The formal press release document is in Japanese. |
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| July 1, 2002 |
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Inauguration of Sompo Japan Insurance Inc.
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Today, we are pleased to announce the inauguration of Sompo Japan Insurance Inc. (“Sompo Japan”; president: Hiroshi Hirano), which resulted from a merger between The Yasuda Fire & Marine Insurance Co., Ltd., and The Nissan Fire & Marine Insurance Co., Ltd. We have taken another step toward our new business challenge of becoming a “Professional Services Group” in the fields of risk and asset management, going far beyond the traditional boundaries of non-life insurance companies.
A start-up ceremony for Sompo Japan was held at 8:20 a.m. today at our head office (26-1, Nishi-Shinjuku 1-chome, Shinjuku-ku, Tokyo).
At the ceremony, two newly hired employees announced the inauguration of Sompo Japan, followed by the president’s message, which was broadcast live via internal satellite to all branches and offices nationwide.
| Corporate information of the new company |
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•Corporate Name: |
Sompo Japan Insurance Inc. |
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•President: |
Hiroshi Hirano |
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•Head Office Location: |
26-1, Nishi-Shinjuku 1-chome, Shinjuku-ku, Tokyo |
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•Paid-in Capital: |
70 billion yen |
•Total Assets: |
4,880.1 billion yen* |
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•Net Premiums Written: |
1,193.4 billion yen* |
•Number of Employees: |
15,266* |
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•Number of Agents: |
81,164* |
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| * Combined figures for Yasuda Fire & Marine and Nissan Fire & Marine for the fiscal year ended March 2002. |
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| End |
| For further details , please contact : publicrelations@sompo-japan.co.jp |
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This material is prepared for information only and is not a solicitation, or offer, to buy or sell the securities of Sompo Japan. |
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Information contained in this material other than past facts are opinions or estimates at the time of publicizing the material.
These opinions or estimates of future performance are not guaranteed by Sompo Japan, and they may end up differing from future facts significantly due to various uncertain factors. |
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