MS&AD Insurance Group Holdings, Inc.

On October 31, 2024, the Japan Fair Trade Commission issued cease-and-desist and surcharge-payment orders after finding nine Antimonopoly Act violations involving non-life insurance quotations and premiums. The named violators included Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance, both listed by MS&AD as group insurance companies. This record attributes the violations to those subsidiaries, not to a separate infringement finding against the holding company. Primary source: https://www.jftc.go.jp/en/pressreleases/yearly-2024/October/241031.html ; corporate relationship: https://www.ms-ad-hd.com/en/group/what/group/structure.html