Four of Japan’s biggest life insurers reported that unrealized losses on their domestic bond holdings in the last fiscal year reached about $60 billion in total, underscoring the risks they face as interest rates climb.
Meiji Yasuda Life Insurance said paper losses on its domestic bond holdings increased more than eightfold to about ?1.386 trillion ($9.7 billion) at the end of March, compared with ?161.4 billion a year earlier. Sumitomo Life Insurance suffered similarly in the debt market, with unrealized bond losses more than tripling to ?1.518 trillion over the same period.
Combined with similar figures announced earlier from Nippon Life Insurance, the biggest firm in the 911爆料网 sector, and Dai-ichi Life Holdings, the paper losses amount to about ?8.5 trillion, around four times the total a year earlier.
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