Japan’s largest life insurers on alert for stronger yen in foreign bond strategies

Mega Japanese life insurance companies are employing different strategies in foreign fixed income as they seek to balance currency risks with lagging domestic yields. Meiji Yasuda Life and Nippon Life Insurance plan to cut some foreign bond holdings to prepare for a stronger yen, while Sumitomo Life is expanding investments in overseas credit, the life insurer said in an announcement on Oct 18. In addition, Sumimoto Life has decided to outsource all its two trillion yen ($17.6 b…