International Outlook: Global Wrapup
JAPAN'S INSURANCE CARTEL
A new study on the Japanese insurance industry should provide potent ammunition for foreign insurers who believe they are being excluded from the market. The research by the American Chamber of Commerce in Japan reveals that 11 keiretsu insurers write more than 80% of nonlife insurance sold there. The 14 keiretsu studied buy more than 70% of their nonlife coverage from insurers that are members of their group. Such groups as Mitsubishi and Mitsui buy almost exclusively from one member insurer, according to the study.