Meiji Yasuda expands Man Group private-credit backing to $1.3 billion
The expanded partnership includes a possible 5% stake in Man Group and joint development of products for Japan.
Sumitomo Life keeps Japanese bond investment pace steady
The insurer expects its asset-liability management portfolio's JGB holdings to decline and says sharp yield moves could increase volatility.
Sumitomo Life Insurance said on October 26 that it would maintain its pace of Japanese government bond investment in the year's second half, matching the first half, while closely watching super-long bond yields.
Tadakazu Izumi, general manager in the insurer's investment planning department, said higher super-long JGB yields improve returns available on new investments and broaden opportunities for life insurers. But he cautioned that abrupt yield changes or weaker confidence in fiscal management could increase market volatility.
The insurer expects JGB holdings within its Asset Liability Management portfolio to shrink during the fiscal year's second half, continuing the decline seen in the first half.
Sumitomo Life also expects the Bank of Japan to lift its policy rate to 1.5% in December, followed by another increase to 1.75% in April.