October 24, 2018 / 6:05 AM / 21 days ago

Nippon Life to modestly increase JGB holdings, reduce Treasuries in Oct-Mar 2019

TOKYO, Oct 24 (Reuters) - Nippon Life Insurance Co plans to modestly increase its holdings of Japanese government bonds in the six months through March 2019, while reducing U.S. Treasuries with currency hedging, senior company officials said on Wednesday.

Nippon Life, one of Japan’s biggest insurers, boosted its holdings of JGBs by about 700 billion yen ($6.22 billion) in the April-September period, they added. ($1 = 112.54 yen) (Reporting by Tomo Uetake Editing by Chang-Ran Kim)

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