The insurer's proposed undertakings include annual product benchmarking, pricing safeguards and protections for smash repair providers in Western Australia.
The preferred bidder is expected to sign a stock purchase agreement in the third quarter, with the acquisition targeted for completion before year-end.
Fire insurance led Japan's non-life market improvement in FY2025, as claims fell sharply despite continued premium growth across major commercial lines.
The Hong Kong subsidiary swung back to profit in 2024, with the ratings agency also pointing to the importance of its cross-border role linking mainland China and Hong Kong.
