TOKYO AP A major Japanese insurer is looking into a possible tie-up with U.S. discount brokerage Charles Schwab and Co. Tokio Marine and Fire Insurance Co. said Wednesday that no decision has been reached. Leading financial daily the Nihon Keizai Shimbun reported Wednesday that the two companies plan to set up an Internet-brokerage venture in Japan with capital participation from three other companies in Tokio's Mitsubishi group. If the deal materializes Tokio Marine and Fire will be the first Japanese nonlife insurer to enter the securities business under the so-called Big Bang a much publicized program by the Japanese government to ease regulations and stimulate competition. The Big Bang is expected to facilitate foreign participation in the Japanese financial markets over the next several years. In recent months several Japanese banks also announced major tie-ups with foreign banks. Nihon Keizai said the two companies are expected to work out an agreement by the end of December. The two will draw up a marketing plan before April 1999 and the new brokerage will start in the summer it said. The joint venture will market an array of financial products to individuals mainly on the Internet Nihon Keizai said. The venture will market through Tokio Marine's network of insurance agents as well as its own branches in addition to a telephone center handling direct sales. The joint venture is expected to be capitalized at between 10 billion yen and 20 billion yen dlrs 82 million and dlrs 164 million with Charles Schwab holding a 50 percent share and Tokio Marine 30 percent. Bank of Tokyo-Mitsubishi Mitsubishi Trust and Banking Corp. and Meiji Life Insurance Co. are likely to take stakes of 5 percent or 10 percent each Nihon Keizai said. UR; may-dj APW19981201.0392.txt.body.html APW19981201.1330.txt.body.html