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.
Bonds
Japan life insurers turn away from U.S. Treasurys for JGBs as rates rise
Nippon Life Insurance and Dai-ichi Life to step up buying of superlong-term bonds
Increasing hedging costs when buying U.S. and other foreign bonds are also acting to boost JGB purchases. © Reuters
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