TOKYO -- Japanese life insurance companies are increasing their holdings of Japanese government bonds this fiscal year as they expect a shift in the Bank of Japan's ultraloose policy that will likely lift interest rates.
Nine of 10 major life insurers told Nikkei that they plan to raise their holdings of superlong-term 20- to 40-year JGBs in fiscal 2023, with the increase expected to top 2 trillion yen ($14.7 billion).
