(by Sh. Nakata)

Mitsui Sumitomo Insurance, the second largest non-life insurer in Japan is likely to try to extend its business by the purchase of Aviva’s Asian unit.

The expected cost for Mitsui accounts for tens of billions of yen, they say. It will probably be the largest foreign purchase made by Japanese insurance group, specialists add. Mitsui says Asian market is very promising from the point of auto insurance as its main activity lies in this field.

The expansion is expected to compensate company’s losses at Japanese non-life insurance market as it experiences sharp decline.