TABLE-Japan life insurers' foreign bond holdings, 2007-2012

Thu Apr 25, 2013 10:51am EDT

TOKYO, April 25 (Reuters) - Japan's life insurers signalled they may boost their net buying
of foreign bonds without currency hedges to the highest level since the global financial crisis
five years ago, which could drive down both overseas bond yields and the yen. 
    Below is historical data on the top nine Japanese life insurers' foreign bond holdings and
currency selling through forwards contracts, based on their disclosures. Unhedged holdings and
hedging ratios are estimates based on Reuters calculations.
    The numbers are in billions of yen and as of end-March of each year. The figures for March
2013 will be published next month.
    
                             2012      2011      2010      2009      2008      2007
 Foreign bonds holdings    18,691.5  18,342.0  15,548.0  13,835.9  14,274.3  14,477.5
 Currency selling          13,225.8  13,477.7  11,678.0  11,957.0   7,062.1   5,673.0
 Unhedged holdings          5,465.7   4,864.3   3,870.0   1,878.9   7,212.2   8,804.5
 Hedge ratio                 70.8%     73.5%     75.1%     86.4%     49.5%     39.2%
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