Don't miss

Replay


LATEST SHOWS

THE DEBATE

Macron on migration: Humanism or closed-border policy?

Read more

FOCUS

Strict controls behind Denmark's generous unemployment benefits

Read more

ENCORE!

Remembering Cranberries star Dolores O'Riordan

Read more

IN THE PAPERS

Irony? Lebanon bans Steven Spielberg's film about censorship

Read more

THE DEBATE

Tunisia's revolutionary fire: Fresh protests, seven years after Arab Spring

Read more

EYE ON AFRICA

Case dismissed against French troops accused of child rape in Central African Republic

Read more

BUSINESS DAILY

Spain set to overtake US in tourism rankings

Read more

MEDIAWATCH

#MeToo and mixed messages

Read more

FOCUS

Stolen medication sold on black market in Mexico

Read more

Japan's Yamato insurer files for bankruptcy

Latest update : 2008-10-10

Japan's Yamato Life Insurance will file for bankruptcy protection, the financial watchdog said Friday, becoming the first Japanese insurer to fail amid the global credit crisis.

Japan's Yamato Life Insurance will file for bankruptcy protection, becoming the first Japanese insurer to fail amid the global credit crisis, the country's financial watchdog said Friday.
   
"Yamato officials made the filing with the Financial Services Agency today" to ask for court protection, an FSA official told AFP, without elaborating.
   
The Tokyo-based, medium-sized company will take the necessary legal steps and seek court approval for rehabilitation, the official said.
   
The medium-size insurer's debts amount to 269.5 billion yen (2.73 billion dollars), Jiji Press reported earlier.
   
 

Date created : 2008-10-10

COMMENT(S)