Fuji Fire and Marine Insurance
| Company type | Public (formerly) |
|---|---|
| Industry | Insurance |
| Founded | 1918 |
| Founder | Kojiro Inoue |
| Defunct | 2018 |
| Fate | Merged with AIU Sompo Insurance Co., Ltd.; renamed AIG General Insurance Co., Ltd. |
| Headquarters | Minato, Tokyo , Japan |
Area served | Japan |
| Products | Fire and marine insurance |
| Parent | AIG Japan Holdings Co., Ltd. (from 2013) |
The company was a Japanese insurance provider headquartered in the Kamiyacho MT Building located in Toranomon, Minato, Tokyo, with an additional office situated in Chuo-ku, Osaka. After merging, it became incorporated into AIG General Insurance Co., Ltd.
By 2013, Fuji Fire and Marine managed around 23,000 agencies throughout Japan, supported by a network of 172 sales offices and 109 claims offices.
Overview
Following the collapse of the bubble economy, Fuji Fire encountered significant operational challenges and achieved stability through capital injections from Orix Corporation (22.19%) and the AIG Group (22.14%) starting in March 2002. Although initially functioning independently, both investors aimed to reinforce the company’s financial foundation. Subsequently, AIG Group expanded its ownership to 41.8% via a third-party allotment, effectively placing Fuji Fire under AIG’s control.
On March 31, 2010, Fuji Fire was integrated into Chartis, the non-life insurance holding company of AIG. In November 2012, the brand identity transitioned from Chartis back to AIG to emphasize its corporate affiliation.
In April 2013, AIG Japan Holdings Co., Ltd. was established as the holding entity for AIG’s insurance business in Japan, with Fuji Fire becoming its fully owned subsidiary.
In January 2018, Fuji Fire merged with AIU Sompo Insurance Co., Ltd., ceasing to exist as an independent company. The combined entity was renamed AIG General Insurance Co., Ltd.
History
• 1918 – Kojiro Inoue founded Japan Postal Fire Insurance Co., Ltd
• 1927 – Headquarters moved to 1-18-11 Minamisenba, Chuo-ku, Osaka
• 1941 – Merged with Tokiwa Simple Fire Insurance Co., Ltd
• 1949 – Renamed as Fuji Fire and Marine Insurance Co., Ltd
• 1953 – Listed on the Osaka Stock Exchange
• 1961 – Listed on the Tokyo Stock Exchange
• 2002 – Capital investments from Orix Corporation and AIG
• 2007 – Addressed issues of unpaid overtime following recommendations from Kyoto Labor Bureau
• 2010 – Joined Chartis (AIG affiliate); formed partnership with AIG Star Life Insurance for life insurance distribution
• 2011 – Chartis Japan Capital Co (an AIG subsidiary) acquired majority shares, making Fuji Fire and Marine a wholly owned subsidiary; subsequently delisted from stock exchanges
• 2013 – Became a fully owned subsidiary of AIG Japan Holdings; subsidiary Fuji Life Insurance rebranded as AIG Fuji Life Insurance
• 2016 – Head office relocated to 4-3-20 Toranomon, Minato, Tokyo
• 2017 – Sold entire stake in AIG Fuji Life Insurance to FWD Group under Pacific Century Group
• 2018 – Merged with AIU General Insurance Co., Ltd.; post-merger entity renamed AIG General Insurance Co., Ltd