Itochu Expands Into Lloyd’s of London Insurance in U.K. Alliance
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Itochu Corp., which seeks to become the most profitable Japanese trading house outside of mineral resources, said it formed an alliance with Antares Managing Agency Ltd. of the U.K. to expand in the insurance industry.
The alliance with London-based Antares will allow Itochu to be Japan’s first non-financial company to underwrite risk in Lloyd’s of London, the world’s largest insurance market, the Tokyo-based company said today in a statement. Itochu will offer reinsurance services, the company said.