(For some-more stories on Japanese hold up insurers, click [ID:nJPINS])
TOKYO, Apr fourteen (Reuters) - Japan"s Meiji Yasuda LifeInsurance Co pronounced on Wednesday it plans to progress the unhedgedforeign down payment land by 300 billion yen ($3.22 billion) in thefinancial year that began on Apr 1.
The nation"s third-largest hold up insurer by resources additionally saidat a headlines discussion that it would cut the hedged unfamiliar debt by200 billion yen due to rising hedging costs, with the awaiting ofinterest rates being hiked in the United States progressing than inthe euro section or Japan.
The association combined that it would enlarge the land ofdomestic holds by a net 1 trillion yen in the 2010/11 financialyear.
Meiji Yasuda manages 24.3 trillion yen of resources on seductiveness ofpolicy holders, of that 6 percent was invested in unfamiliar bondsat the finish of Mar 2010.
Japan"s tip 9 insurers hold around $1.6 trillion in assetsas of Sep 2009 -- scarcely the distance of Brazil"s economy --and their investment moves are followed closely by both domesticand abroad marketplace players.
The insurers, with about $163 billion of unfamiliar bondholdings in total, are examination for when U.S. seductiveness ratesstart to rise, a shift that would pull up unfamiliar down payment hedgingcosts and could lead to some-more Japanese supervision down payment buying. ($1=93.20 Yen) (Reporting by Satomi Noguchi and Yuka Obayashi)
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