March 14, 2007
Millea Holdings, Inc.
2-1 Marunouchi 1-chome,
TSE code number: 8766
Administrative orders from the Financial Services Agency to Tokio Marine & Nichido and Nisshin Fire
Today Tokio Marine & Nichido Fire Insurance Co.,Ltd. ("Tokio Marine & Nichido") and Nisshin Fire & Marine Insurance Co.,Ltd. ("Nisshin Fire"), subsidiaries of Millea Holdings,Inc., received administrative orders from the Financial Services Agency ("FSA") in respect of the third-sector insurance policies pursuant to Article 132 paragraph 1 of the Insurance Business Law.
It is with great regret that our subsidiaries have received such orders. We do realize that appropriate insurance payment is the most basic and important function of an insurance company and we will put in our best effort to prevent the recurrence of the problem.
Please see the respective websites of the companies for details:
Tokio Marine & Nichido (English)
Nisshin Fire (Japanese)