Politics
Japan’s Biggest Insurers Post $96 Billion in Bond Paper Losses
Key Points
Japan’s Biggest Insurers Post $96 Billion in Bond Paper Losses Japan’s four largest life insurers reported that their combined unrealized losses on domestic bonds increased 7% in the three months through June, showing the risks to the industry from soaring interest rates. Paper losses on bonds held by the insurers including Nippon Life Insurance Co. swelled to ¥15.13 trillion ($96 billion), according to the four firms’ earnings reports for the April-June quarter. All four, comprising Daiichi...
Japan’s Biggest Insurers Post $96 Billion in Bond Paper Losses
Japan’s four largest life insurers reported that their combined unrealized losses on domestic bonds increased 7% in the three months through June, showing the risks to the industry from soaring interest rates.
Paper losses on bonds held by the insurers including Nippon Life Insurance Co. swelled to ¥15.13 trillion ($96 billion), according to the four firms’ earnings reports for the April-June quarter. All four, comprising Daiichi Life Group Inc., Sumitomo Life Insurance Co. and Meiji Yasuda Life Insurance Co. in addition to Nippon Life, saw increases in unrealized losses.