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Fuji Fire and Marine Insurance

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The Fuji Fire and Marine Insurance Co., Ltd.
IndustryInsurance business
HeadquartersToranomon, Minato- ku, Tokyo 105-8602
Area served
Japan
Key people
Representative Director, President and CEO Takami Yokoyama
ProductsNon-life insurance
  • -¥28,473 million
  • -US$190 million (2017)
Total assets
  • ¥824,308 million
  • US$5.5 billion (2017)
Number of employees
Consolidated: 5,966 people Non-consolidated: 5,653 people (as of 31 March 2011)
Websiteweb.archive.org/web/20171202043700/http://www.fujikasai.co.jp/

The Fuji Fire and Marine Insurance Co., Ltd. (富士火災海上保険株式会社, Fuji Kasai Kaijō Hoken Kabushiki Kaisha) was a Japanese insurance company. The company had its corporate headquarters in the Kamiyacho MT Building (神谷町MTビル Kamiyachō MT Biru) located in the Toranomon neighborhood of Minato, Tokyo. It also had an Osaka office in Chuo-ku borough, Osaka.[1] Due to a merger, the company is now AIG General Insurance Co., Ltd.[2]

As of 2013, it had about 23,000 agencies throughout Japan, 172 sales offices, and 109 claims offices.[3]

Overview

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Overview After the collapse of the bubble economy, the company faced a business crisis, and to stabilize its business, it received investments from Orix Corporation (22.19%) and AIG Group (22.14% ) from March 2002, but the group of both companies It wasn't a company. However, due to both the company's desire to strengthen its financial base and AIG's desire to concentrate resources on non-life insurance, a Through a third-party allotment, the AIG Group as a whole would own 41.8% of the company, and it was planned to become a company under AIG.

Subsequently, on 31 March 2010, we conducted a third-party allotment of capital to Chartis, an AIG-affiliated non-life insurance holding company, and became a Chartis group company.[4] In November 2012, AIG Group announced that it would repurpose AIG as a brand. The brand returned from Chartis to AIG, emphasizing its affiliation with the AIG Group.

In April 2013, AIG reorganized AIG Japan Holdings Co., Ltd. as a holding company for its insurance business in Japan. It became a wholly owned subsidiary of AIG Japan Holdings.

In January 2018, it was merged with AIU Sompo Insurance Co., Ltd. and dissolved. AIU General Insurance Co., Ltd. changed its trade name to AIG General Insurance Co., Ltd.[5]

History

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• 1918 – Kojiro Inoue establishes Japan Postal Fire Insurance Co., Ltd[1]
• 1927 – The head office building is moved to its current location at 1-18-11 Minamisenba, Chuo-ku, Osaka
• 1941 – Merged with Tokiwa Simple Fire Insurance Co., Ltd
• 1949 – Changed trade name to Fuji Fire and Marine Insurance Co., Ltd
• 1953 – Listed on the Osaka Stock Exchange
• 1961 – Listed on the Tokyo Stock Exchange
• 2002 – Orix Corporation and AIG take capital participation.
• 2007 – Received a recommendation from the Kyoto Labor Bureau to correct unpaid overtime work , and it was discovered that unpaid overtime wages had been paid
• 2010 – Becomes a member of Chartis, an AIG affiliate. Business alliance with AIG Star Life Insurance (sales of life insurance products handled by AIG Star)
• 2011 – Chartis Japan Capital Co, a unit of the American International Group Inc., acquired 43.59% of the outstanding shares not already owned Fuji Fire and Marine. On 30 March 2011 Chartis was to own 98.25% of Fuji Fire and Marine, making it a wholly owned subsidiary. Fuji Fire and Marine was to be delisted from the stock exchanges as a result.[6]
• 2013 – Becomes a wholly owned subsidiary of AIG Japan Holdings, AIG's insurance holding company . Subsidiary Fuji Life Insurance changed its trade name to AIG Fuji Life Insurance
• 2016 – Moved the head office location to 4-3-20 Toranomon, Minato, Tokyo
• 2017 – Transferred all shares of subsidiary AIG Fuji Life Insurance to FWD Group, a subsidiary of Pacific Century Group.[7]
• 2018 – Merged with AIU General Insurance Co., Ltd. and dissolved. AIU General Insurance Co., Ltd. changed its trade name and became AIG General Insurance Co., Ltd.[8]

References

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  1. ^ a b "Company Profile." (Archive) Fuji Fire and Marine Insurance. Retrieved on 26 August 2013. "Headquarter [sic] Tokyo head office: Kamiyacho MT Bldg, 4-3-20 Toranomon, Minato-ku,Tokyo, Japan" "Osaka head office: 1-18-11 Minami Senba, Chuo-ku, Osaka, Japan" – Information in Japanese (Archive) "所在地 東京本社 〒105-8622　東京都港区虎ノ門4丁目3番20号　神谷町MTビル" and "大阪本社 〒542-8567　大阪市中央区南船場1丁目18番11号"
  2. ^ "AIU Insurance, Fuji Fire & Marine Insurance to merge in 2018". S&P Global Market Intelligence. 13 February 2017. Retrieved 11 February 2024.
  3. ^ "AIG companies in Japan." American International Group Inc. Retrieved on 26 August 2013.
  4. ^ Yamazaki, Tomoko. "AIG’s Chartis Completes Tender Offer of Fuji Fire Marine." (Archive) Bloomberg. 25 March 2011. Retrieved on 26 August 2013.
  5. ^ "AIU Insurance, Fuji Fire & Marine Insurance to merge in 2018". S&P Global Market Intelligence. 13 February 2017. Retrieved 11 February 2024.
  6. ^ Yamazaki, Tomoko. "AIG’s Chartis Completes Tender Offer of Fuji Fire Marine." (Archive) Bloomberg. 25 March 2011. Retrieved on 26 August 2013.
  7. ^ "AIG Agrees to Sell Japan Life Insurance Business to FWD Group". Business Wire. 14 November 2016.
  8. ^ "AIU Insurance, Fuji Fire & Marine Insurance to merge in 2018". S&P Global Market Intelligence. 13 February 2017. Retrieved 11 February 2024.
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