Nippon Life cautious but eyes chances for foreign bond buying
TOKYO, April 22
TOKYO, April 22 (Reuters) - Nippon Life, Japan's biggest life insurer, said it plans to slow its increase in domestic bond investment in the current fiscal year to March 2014, but plans to raise unhedged foreign bond holdings at an appropriate time this fiscal year.
The life insurer, with total assets of about 50 trillion yen ($504 billion), plans to allocate about 70 percent of its 1 trillion yen earmarked for investment in the fiscal year, a senior official said on Monday.
Nippon Life said it expected the dollar to trade between 93 to 103 yen this fiscal year and the euro to trade between 117 to 137 yen.
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