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T&D Holdings plans to convert pet insurance unit into general insurer

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T&D Holdings plans to convert pet insurance unit into general insurer

Japan-based T&D Holdings Inc. plans to convert its pet insurance provider into a general insurer as part of efforts to increase profit across the group, Tokyo's The Nikkei reported March 15, citing T&D Holdings incoming president Hirohisa Uehara.

The plan will convert Pet & Family Small-amount Short-term Insurance Co. into a general insurance company. The insurer currently provides insurance products for pet owners.

Under Japanese regulations, revenues of small-amount and short-term insurers are capped at ¥5 billion a year, while revenues of general insurance companies have no annual limit.

As of March 14, US$1 was equivalent to ¥106.17.