Sompo Japan's Australian branch has more than 35 years of operating history. In June 2005, Sompo Japan established Sompo Japan Insurance (China) Co., Ltd. In September 2014, upon acquisition of Nippon Koa, it is now named PGA Sompo Insurance Corporation. In 1991, PGA Yasuda Insurance Company, Inc., was established in Partnership with Prudential Guarantee and Assurance Inc. Sompo Japan Nipponkoa has offices and subsidiaries in 28 countries, providing insurance services and risk management expertise. In December 2022, the heirs to the Jewish banker and art collector Paul von Mendelsohn-Bartholdly filed suit in Chicago to reclaim the Van Gogh, alleging that the insurance company ignored the Holocaust-linked history of the painting during its acquisition in 1987. In September 2014, Sompo Japan acquired Nipponkoa Insurance. In December 2002, Sompo Japan acquired Taisei Fire & Marine Insurance. On July 1, 2002, Yasuda Fire and Nissan Fire & Marine Insurance (日産火災海上保険) merged into a new company, Sompo Japan Insurance Inc. Yasuda Fire made a successful bid for Van Gogh's " Sunflower" paintings for about 5.3 billion yen in 1987. Later, in 1944, Tokyo Fire Insurance, Imperial Marine Insurance, and First Engine & Boiler Insurance merged to become the Yasuda Fire & Marine Insurance Company (安田火災海上保険). In 1893, Japanese entrepreneur Zenjiro Yasuda absorbed the Tokyo Fire Insurance Company into the Yasuda zaibatsu. The major Yokosuka fire of 1890, however, nearly toppled the fledgling company. The company worked to cultivate an awareness of fire insurance, and five branch offices were added within a year. was established in 1887 as Japan's first fire insurance company. The “Sompo” in the company's name means “ general insurance" ( 損害保険, songai hoken) in Japanese, though Sompo Japan offers a range of financial services including life insurance, securities, asset management and venture capital businesses. It is the second-largest property insurance company in Japan only behind Tokio Marine, with market share of 19.3% in 2007. "General Insurance Japan"), is a Japanese insurance company. ( SOMPOホールディングス, Sonpo hôrudingusu), formerly NKSJ Holdings and Sompo Japan ( 損害保険ジャパン, Songai Hoken Japan, lit.
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