Shin Kong Life to add foreign bonds, cut RMB debt

Taiwanese insurer Shin Kong Life will buy more foreign bonds this year – with the exception of renminbi debt – and will continue to underweight stocks, as it seeks to offset disappointing returns from domestic assets. Normally, the firm puts about NT$200 billion ($6 billion) of its new cash holdings into investments every year, noted Stan Lee, senior vice president of Shin Kong Financial Holding, the insurer’s parent. This year they will mostly go into foreign bonds given the the …