Major Japanese insurance firm Sompo Holdings Inc CEO Kengo Sakurada said Friday he will step down at the end of March to take responsibility for the company's involvement in used car dealer Bigmotor Co's insurance fraud scandal. The announcement comes after Japan's financial watchdog ordered Sompo on Thursday to improve…
Major Japanese insurance firm Sompo Holdings Inc. CEO Kengo Sakurada says he will step down at the end of March to take responsibility for the company's involvement in used car dealer Bigmotor Co.'s insurance fraud scandal.
The chairman of Sompo Holdings Inc. will step down to take responsibility for the company s involvement in an insurance scam committed by Bigmotor Co., the used-car dealer and repair chain.
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