TOKYO, April 24 Japan's Sumitomo Life Insurance
Co may move more funds into foreign bonds for the
current financial year ending in March 2014 if yields on
Japanese government bonds stay at current low levels, a senior
executive of the company said on Wednesday.
The country's fourth-largest private life insurance company
plans to increase yen bond holdings for financial year 2013/14,
although the amount of purchase may not be large as the previous
year, Iwao Matsumoto, general manager of investment planning
department, told a news conference.
The insurer held about 25.38 trillion yen ($255.43 billion)
in its investment portfolio as of the end of December.
Financial market participants closely follow the allocation
plans of Japanese life insurance companies, which collectively
held 332.4 trillion yen in assets as of January, data by the
Life Insurance Association of Japan showed.