TRADE

U.S. Says New Rules Fail to Open Japan’s Insurance Market: U.S. trade officials said new Japanese insurance industry guidelines do not fulfill Japan’s 1994 pledge to open its insurance market to foreign companies. The guidelines leave the largest segment of the Japanese market closed to foreign companies, while allowing Japanese insurers to enter the tiny portion of the market that now is dominated by non-Japanese companies. Japan’s Ministry of Finance, which regulates the $600-billion insurance market, announced the regulations Monday. U.S. insurance companies have been pressing for greater access to sections of Japan’s corporate insurance market, as well as the right to expand their share of the auto and fire insurance markets.