Mitsui Sumitomo to invest more in foreign bonds, ETFsOctober 18 2017 by InsuranceAsia News Staff
Japan’s Mitsui Sumitomo will invest more in foreign corporate bonds and foreign exchange-traded funds during the second half of the year, according to Tomonori Mano, manager of the firm’s investment planning department.
The company intends to increase investment in higher-risk assets such as foreign stocks and debt by as much as ¥30 billion (US$268.36 million).
That raises to around ¥100 billion the total amount the insurer will allocate for risky investments this year, an increase from the original plan of ¥60-70 billion.
Mano said there were concerns about geopolitical risks like tension between the US and North Korea during the first half.
However, the relatively stable market has allowed insurers like MS&AD Insurance to gather enough funds to move forward with their investment schedule.
As of the end of March, the insurance company’s assets were valued ¥6.8 trillion.
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