First Chicago And Tokio Marine Insurance Launch Joint Venture
FIRST Chicago NBD has formed a joint venture with Tokio Marine and Fire Insurance Company to offer risk management advice and products to clients across Asia.
Tokio Marine Financial Products (TMFP) will combine First Chicago's risk management expertise, technology and trading skills with Tokio Marine's customer base and knowledge of Asian markets, says a spokesperson for First Chicago. Each institution will own 50 per cent of the new company, which will be initially capitalized at $75 million.
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