Japan-based Aioi Insurance, a non-life insurance company, and Nissay Dowa General Insurance, a core non-life insurance arm of the Nissay Group, intends to postpone the merger of their operations by approximately six months. The decision is mainly due to a delay in integration of their information systems, reported JAPANTODAY, quoting Kyodo News as its source.
The sources said that the nonlife insurance companies intends to reveal the decision on whether to put off the merger, originally planned for April 2010, in late September 2010.
With the integration scheme announced in January 2009, the delay would not affect the plan to place the two companies under the wing of Mitsui Sumitomo Insurance Group Holdings in line in April 2010.
The merger of the three firms is expected to have a combined net premium revenues of approximately JPY2.7 trillion.
