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Sompo Holdings establishes fintech hub in Israel

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Sompo Holdings establishes fintech hub in Israel

Sompo Holdings Inc. has set up a fintech base in Israel, making it the first Japanese insurer to do so in the country, Reuters reported Nov. 27, citing the company's officials.

The new fintech hub, based in Tel Aviv, is aimed at tapping local expertise in digital and cybersecurity technologies in the country.

The company is also considering collaborating with or investing in Israeli startups with innovative technologies in fields such as agriculture and life sciences, the report added.