February 26, 2019 / 5:52 AM / 22 days ago

Nippon Life CIO: Plan to step up foreign bond buys without FX hedge

TOKYO, Feb 26 (Reuters) - Nippon Life Insurance Co , Japan’s largest private insurer, has increased foreign bond investment without currency hedge so far in the financial year to March and is likely to do so further in the next year, its chief investment officer said on Tuesday.

The firm, which has total assets of 66.7 trillion yen ($602 billion), also plans to increase buying in domestic fixed income products and to cut foreign bond investment with currency hedge instead, Kazuhide Toda told Reuters.

$1 = 110.76 yen Reporting by Tomo Uetake and Hideyuki Sano Editing by Chang-Ran Kim

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