TOKYO — Japan’s top life insurance companies plan to reduce their holdings of Japanese government bonds by 1.3 trillion yen ($9.1 billion) overall in fiscal 2025, in a shift from their response to new capital rules.
Four of the top 10 companies aim to reduce JGB holdings in the first half of fiscal 2025, which began in April, based on announced asset management plans. Nippon Life Insurance will do so for the first time since fiscal 2016.
