Asahi Life to Transfer 2,000 Corporate Contracts to Millea
June 18 (Bloomberg)-- Asahi Mutual Life Insurance Co., which lost one in seven of its individual policyholders last year, plans to transfer its corporate business to rival Millea Holdings Inc. to focus on trying to stem the exodus...Asahi Life failed to pay the promised dividend on individual and group policies in the year ended March 31, the first such missed payment by a Japanese life insurer. Tokyo-based Asahi has the lowest solvency margin -- a measure of its ability to pay returns... ``This isn't a formal alliance with Millea,'' Inazu []of Millea's Tokio Marine]] said. ``Just a collaboration.''
