JAPANESE LIFE ASSURERS BRING MONEY BACK HOME

The eight leading Japanese life assurers plan to invest new money in Japanese Government Bonds, reports Nikkei. Interest and dividend income totalling ¥1.5trn ($19.2bn) will be put into JGBs or other domestic bonds. Data was collected from all of the top players with the exception of Dai-ichi Life, which does not disclose such information. Nippon Life, Meiji Yasuda Life, Sumitomo Life, Daido Life, Taiyo Life, Fukoku Mutual Life, Mitsui Life and Asahi Mutual Life provided the required information. At the start of the year Japanese assurers said that they intended to invest some ¥440bn in foreign bonds, but they invested ¥70bn less than they intended to in H1.