Magazine date:
Dec 2009 The merger between Mitsui Sumimoto, Japan's number two insurer, Aioi, number four and Nissay Dowa, number six, will give birth to the biggest Japanese insurance group. The volume of consolidated premiums for the entire group represented 29 billion USD by March 3, 2009. Cost savings made thanks to the systems integration are estimated at 447 million USD.
This merger will be completed in April 2010. Today, Toyota Motor owns 33.4% of Aioi stakes while Nippon Life Insurance acquired 35.38% of Nissay Dowa's shares.