New Post Office Firm to Sell Auto Insurance in Tokyo Area

Tokyo, Jan. 12 (Jiji Press)--The post office management company to be created in October with the start of the 10-year privatization process of state enterprise Japan Post plans to begin handling auto insurance at around 20 post offices in the Tokyo area.

For the new operations, the company, one of four firms to be born out of Japan Post's breakup, will employ several hundred field underwriters with experience in writing Kampo postal insurance policies, officials of Japan Post Corp., a preparatory firm for the privatization, said Friday.

After starting sales of auto insurance instruments at the planned outlets in October, the new company will consider marketing them at post office counters or increasing the number of post offices handling them, the officials said.

On Friday, Japan Post Corp. started inviting applications for nonlife insurers to supply auto insurance products for sale by the new company. It intends to select at least two companies by the end of February.END

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