Hello. Here's an interesting development in business insurance. Japanese insurance companies have long held stakes in customers and other business partners but are gradually unwinding those holdings under pressure from Japan's government.

Tokio Marine, one of the biggest Japan-based casualty insurers, wants to use some of its proceeds to buy expertise in non-insurance services tied to helping customers reduce risk. The company is testing the concept of combining insurance with non-insurance risk mitigation services in Japan and would bring the idea overseas if it is successful.

In line with this strategy, Tokio Marine is actively seeking to acquire expertise in cyber risk mitigation. Read the full story.

More news below. 

An unnamed nation-state hacked Ribbon Communications, which provides services to U.S. telecom companies, lingering inside the Plano, Texas-based firm for nine months. Ribbon said three customers were affected, not naming them. (Reuters)

Guilty: A former executive at defense contractor L3 Harris pleaded guilty Wednesday to stealing trade secrets. Over three years starting in 2022, the executive stole software related to zero-day vulnerabilities researched at L3 unit Trenchant, selling some of the material to Russia, U.S. prosecutors said. He faces seven to nine years in prison and is scheduled for sentencing in January. (CyberScoop)

Texas is investigating Taiwan-based company Lorex Technology for possibly selling security cameras that contain parts from Dahua, a Chinese company that the U.S. says has ties to China's military. 

• Florida and Nebraska have similar probes underway, citing data privacy and national security risks.

The WSJ Pro Cybersecurity team is Deputy Bureau Chief Kim S. Nash and reporters Angus Loten and James Rundle. Follow us on X @WSJCyber. Reach the team by replying to any newsletter you receive or by emailing Kim at kim.nash@wsj.com.