Hit by hefty share price losses and insurance payouts following the Sept. 11 terrorist attacks in the United States, four of the nation's nine largest nonlife insurers on Monday reported net losses for the 2001 business year.
The firms slipped into the red just as reorganization of the sector is beginning in earnest.
Together, the nine companies suffered losses estimated at 104.5 billion yen from insurance payouts related to the terrorist attacks in the year ended March 31.