Big Japan insurers to sell $3.1B Honda shares

TOKYO — Four of Japan's top property and casualty insurers and other financial firms plan to sell around 500 billion yen ($3.1 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.

Tokio Marine Holdings Sompo Holdings and two units of MS&AD Insurance Group will together offload shares in the automaker, said the people who declined to be identified because the information has not been made public.