Tokio Marine signs joint venture with Japanese telecoms giant
(BestWire) - Tokio Marine Holdings Inc. [85100] has signed a business and capital alliance agreement with NTT Finance Corp., a subsidiary of Japan's main telecommunications group Nippon Telegraph and Telephone Corp., to establish a joint venture for online nonlife insurance business in Japan.
With initial capital of 7 billion yen (US$78.3m), the venture is tentatively called E Design Insurance Preparatory Co. Ltd.. It is 85.01% owned by Tokio Marine and 14.99% by NTT Finance.
The new
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