April 22, 2019 / 6:02 AM / a month ago

Dai-ichi Life plans to reduce domestic assets, wary of U.S. recession

TOKYO, April 22 (Reuters) - Dai-ichi Life Insurance, a core company of Dai-ichi Life Holdings, plans to reduce its holdings of domestic bonds and stocks in the year to March 2020, a senior company executive said on Monday.

The firm is wary of a U.S. recession down the road after an inversion of the U.S. yield curve - historically a signal of recession about 15 months ahead - and keeps a cautious stance on investments, Akifumi Kai, general manager of investment planning, told a news conference. (Reporting by Hideyuki Sano Editing by Chang-Ran Kim)

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