All articles tagged with #market withdrawal
Two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., both units of Japan-based Tokio Marine Holdings Inc., are set to withdraw from California's property insurance market in July, impacting 12,556 policies with premiums of $11.3 million, further straining the state's already challenged insurance market.
Yamaha, the Japanese company known for its snowmobiles, has announced that it will be ending production of snowmobiles and withdrawing from the market by 2025. The phase-out will begin in Japan, followed by Europe and North America. Yamaha cited difficulties in sustaining a profitable business in the snowmobile market and expressed a focus on producing environmentally-friendly vehicles, such as EV motorcycles. The company is currently involved in partnerships for standardized swappable EV batteries and exploring the development of hydrogen-powered motorcycles. Parts and service for existing snowmobiles will still be available for a limited time.