Regulator bans foreign reinsurance broker for 'serious and grave' violations, including failure to secure reinsurance and involvement in forged reinsurance slips.
130 executives face temporary salary reductions up to 50%, as insurers submit business improvement plans following investigation into co-insurance policy collusion.
Nishizawa looks set to step down and would be the latest high-profile resignation in the wake of the Japanese insurance industry's Bigmotor and price-fixing scandals.
Insurance Authority data shows a 10% decrease in overall complaints for the first nine months of 2023, though there was a slight increase in conduct-related cases.
