The German insurance group ALLIANZ and the Japanese trading company MARUBENI are to create a joint-venture in Japan specialised in credit-insurance for on-line purchase and sales activities of Japanese companies. With an initial capital of 140 million yen, the company will be held to the tune of 40% by MARUBENI, an the rest shared between ALLIANZ (9%), and its subsidiaries EULER (25.5%) and HERMES (25.5%).