TOKYO -- Two of Japan's biggest life insurers, Nippon Life Insurance and Dai-ichi Life Insurance, are increasing their purchases of superlong-term Japanese government bonds in the second half of fiscal 2023, amid rising yields and high hedging costs associated with foreign bond investment.
"Yields on 30-year bonds have been rising, and are now at a level sufficient for investment," said Akiko Osawa, managing executive officer at Nippon Life Insurance, or Nissay. Osawa and Kazuyuki Shigemoto, Dai-ichi's managing executive officer, spoke with Nikkei.
