A total of about 130 executives at four major Japanese property and casualty insurance companies will take up to 50 percent pay cuts for colluding to fix prices in contracts with corporate customers and government agencies, the companies said Thursday. The four insurers also submitted business improvement plans the same day to the Financial Services Agency following its order to improve their operations over price fixing. Tokio Marine Holdings Inc. said Shinichi Hirose, president at its Tokio Marine & Nichido Fire Insurance Co. unit, will take a 50 percent cut in his monthly salary for three m…