Reuters: Regulatory News: Japan Post, Aflac forge insurance tie-up

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Japan Post, Aflac forge insurance tie-up Jul 26th 2013, 06:15 TOKYO, July 26 | Fri Jul 26, 2013 2:15am EDT TOKYO, July 26 (Reuters) - Japan Post Holdings Co Ltd said on Friday that it had entered into a tie-up with American Family Life Assurance Co (Aflac) that would allow the U.S. insurer to sell cancer insurance at more than 20,000 post offices across Japan, up from the current 1,000. In addition to a national network of post offices, state-owned Japan Post runs the country's biggest banking and insurance operations, overshadowing private lenders and insurers. Aflac, which counts on Japan for almost 80 percent of its business, dominates Japan's cancer insurance market with about a 70 percent share.

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