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Tokio story.

Jeremy Golden finds that Japan's leading non-life insurer, Tokio Marine and Fire, has been reassessing its approach to reinsurance as it faces up to deregulation of the local insurance market.

Even by the standards of the Japanese non-life market, which has always been controlled by big hitters, Tokio Marine and Fire is a phenomenon.

Tokio, established back in 1879 as Japan's first non

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