NU Online News Service, April 4, 10:16 a.m. EDT
Starr Indemnity & Liability Co. says that the Japanese Financial Services Agency granted it a foreign, non-life insurance business license in Japan. The license allows Starr to offer approved accident and health insurance and casualty solutions in the country.
“We are delighted that Starr has been granted a license to operate in Japan,” says Ed Navarro, head of international insurance operations. “We see great potential in the country’s dynamic insurance market and believe that we are uniquely suited to deliver innovative risk management solutions to its business community.”
Starr says that in the coming weeks the organization will formally launch a new Tokyo branch office.
Susumu Kohda, who led the initial licensing and operations effort, will stay with the organization and continue to play an instrumental role as Starr expands its underwriting team and product portfolio in Japan.
Maurice R. Greenberg, chairman of Starr says in a statement, “Many of Starr’s executives have done business in Japan for a number of years and enjoy long-standing relationships. We expect a very rapid expansion there.”
Starr Companies is the worldwide marketing name for the operating insurance and travel assistance companies and subsidiaries of Starr International Company, Inc. and for the investment business of C.V. Starr & Co., Inc.