April 26, 2017 / 9:02 AM / 3 months ago

Nippon Life plans to increase holdings of foreign bonds without currency hedge

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TOKYO, April 26 (Reuters) - Japan's biggest private life insurer, Nippon Life Insurance Co, plans to boost holdings of foreign bonds without currency hedge to seek higher yields offshore, as domestic interest rates remain low, senior company officials said.

Nippon Life will limit investment in Japanese government bonds (JGB) to a minimum in the year to March 2018, Naoki Akiyama, general manager of finance and investment planning, told a news conference on Wednesday.

Nippon Life has about 63 trillion yen ($565 billion) in assets. ($1=111.3900 yen) (Reporting by Tomo Uetake; Editing by Clarence Fernandez)

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