Japanese insurers weigh bond positions ahead of next BOJ move
As the market eagerly awaits the next policy move from the Bank of Japan, domestic life insurers are assessing their asset allocations, especially in local government bonds, while eyeing other strategies.
Japanese life insurers are staying long on Japanese government bonds (JGBs), as they await a possible policy shift by the Bank of Japan (BOJ) away from negative interest rates.
"Based on our discussions with several Japanese life insurers’ management, our understanding of the big picture is that asset allocation shift from foreign bond to super long JGB is ongoing, and it has not changed at this moment,” Teruki Morinaga, director of insurance at Fitch Ratings Japan, told AsianInv…
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