Japanese insurers Nissan Fire and Marine and Yasuda Fire and Marine have cancelled their merger deal to form Sompo Japan with bankrupt Taisei Fire and Marine.
But the three companies said they would make every effort launch Sompo under a new arrangement.
Taisei Fire's collapse in late November, due to heavy insurance payments related to the11 September terrorist attacks in the United States, forced the abolition of the three-way merger plan to create Sompo in April 2002.
It is understood that Nissan Fire and Yasuda Fire still plans to serve as sponsors for Taisei Fire's rehabilitation.
