Yamato Life Insurance will apply for protection against creditors
According to the representatives of Financial Services Agency (FSA) one of the basic insurance companies of Japan Yamato Life Insurance will submit on registration of protection against creditors according to the law on bankruptcy.
Thus, the company became the first insurer of the country, which will not cope with financial problems on background of going deep world crisis.
Representatives of service agency quote that the official representatives (companies) of Yamato and FSA have already applied for registration.
On tentative estimations, the sum of debts of the insurance company makes nearby 2,73 billion dollars. Under the law, for the subsequent financial improvement of the company the special decision of court is required.
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