Japan's Top Life Insurer Says Unrealized Bond Losses Tripled
Japan's biggest life insurer said unrealized losses on its domestic bond holdings more than tripled in the fiscal year through March as rising interest rates undercut the value of its portfolio.
Nippon Life Insurance Co., which last month outlined plans to reduce its holdings of sovereign debt, on Friday said that paper losses on Japanese bonds swelled to about ¥3.6 trillion ($25 billion) from a year earlier.
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