MS&AD Insurance Group Holdings (JP:8725) has released an update.
MS&AD Insurance Group Holdings’ subsidiaries, Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, have been penalized by the Japan Fair Trade Commission for violating antitrust laws in their non-life insurance policies for certain clients. Both companies have been ordered to cease these practices and pay significant monetary penalties, though they have received reductions through a leniency program. Despite these actions, the company maintains its earnings forecast for the fiscal year ending March 2025.
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