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Japan Taiyo Life to step up bond buying

Japan's seventh-largest private life insurer,Taiyo has assets of 6.2 trillion yen.

Written by Agencies | Tokyo | Published: October 24, 2012 1:23 pm

Japan’s Taiyo Life Insurance plans to buy more yen bonds in the October-March second half after buying a net 100 billion yen worth in the first half,a senior official said on Wednesday.

We are focusing on superlong maturities,Osamu Mori,general manager of investment planning at Taiyo Life,told Reuters in an interview.

Taiyo Life,Japan’s seventh-largest private life insurer with assets of 6.2 trillion yen ($77 billion) as of June,plans to keep its holdings in other asset classes mostly steady in the second half depending on market conditions,Mori said.

The insurer,a unit of T&D Holdings,bought 50 billion yen of foreign bonds in the April-September first half,concentrating on French,British and Australian debt,he said.

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