INSURANCE

Japanese Firm Withdraws from Partnership: Tokio Marine & Fire Insurance Co. said it is severing its relationship with and withdrawing its money from WSGP Partners in Los Angeles. WSGP’s founders include former Treasury Secretary William E. Simon, former Federal Reserve Board Vice Chairman Preston Martin and Los Angeles lawyer Gerald Parsky, although Simon and Martin are no longer involved. Affiliates of WSGP are best known for their thrift investments, including Western Savings & Loan in Los Angeles and Honolulu Federal in Hawaii. A spokesman for Tokio, however, said none of the company’s $100-million investment in WSGP Partners was used to invest in S&Ls; because Tokio considers investing in thrifts too controversial.