Parent company Netstrata facing heavy scrutiny over allegations of inflated insurance brokerage fees and engaging in kickback schemes, an ABC investigation reveals.
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.
