Reported 1 day ago
Dai-ichi Life Insurance Co. reported a loss of approximately ¥140 billion ($890 million) after selling long-term bonds in anticipation of rising interest rates. The company sold about ¥500 billion in Japanese government bonds, particularly those with 20- to 40-year maturities. Despite the loss, company president Toshiaki Sumino believes it won't affect Dai-ichi's financial stability, and he expects further rate hikes from the Bank of Japan. The firm has successfully increased its premium sales significantly compared to the previous year.
Source: YAHOO