Tokyo, Aug. 6 (Jiji Press)--Japanese auto parts retailer Autobacs Seven Co. said Monday it will set up a joint venture with American International Group Inc. to prepare for the launch of a nonlife insurance business.Autobacs, which as an agent for nonlife insurers already sells compulsory automobile liability insurance, plans to develop original auto insurance products and tap demand from its customers, the company said.The joint venture will have capital of 490 million yen, 65 pct of which will be put up by Autobacs and the rest by AIG, a major U.S. insurer.....
CarInsurance.com licenses car insurance news content from Yellowbrix, Inc. We are unable to display this entire news item because this article's licensing expires after a certain amount of time. This article was originally published by Jiji Press English News Service and it may be available at their website. See other car insurance news.
Car Insurance News: Autobacs to Enter Nonlife Insurance Business With AIG...Get an auto insurance quote!