Japan's Mitsui Sumitomo Insurance Co plans to invest in Japanese corporate bonds and super long-term government bonds as well as foreign alternative assets this fiscal year, a senior executive said on Thursday.
The core company of MS&AD Insurance Group Holdings with assets of 6.9 trillion yen ($63 billion) said it had stopped investing in 10-year Japanese government bonds and shifted to other interest-bearing assets after the Bank of Japan introduced negative interest rates in January.
It plans to invest a total of about 80 billion yen in domestic assets such as corporate bonds and 20-year and 30-year government bonds in the financial year through March, Hiroaki Hara, manager of investment planning at Mitsui Sumitomo, told Reuters in an interview.