In addition, many of the country's largest insurers are based here.
The British company will pay $5.2 billion for the large insurer.
The company is one of the oldest and largest insurers in Japan.
Other large insurers have been trying to do the same, driven by new regulatory standards.
First, it surveys only the eight largest insurers, which write about 75 percent of the policies in the state.
Shop for insurance by consulting two or three of the largest insurers.
Sanborn's is one of the larger insurers for Americans going there.
That is leading the larger insurers to try and add customers by making acquisitions, he said.
This will leave the large insurers with a powerful oligopoly.
Several other large insurers had only minor losses or were unchanged.