国内超長期債を積み増し　金利差拡大、外債は減少―大手生保下期計画

　生命保険大手１０社の２０２２年度下期資産運用計画が２５日、出そろった。国内金利の上昇を踏まえ、償還期間３０～４０年の超長期国債を中心に、国内債券への積み増しが目立つ。一方、日米の金利差拡大で為替変動リスクを回避するためのコストが高止まり、外国債券は残高を減らす社が多い。
　生保各社は契約者からの保険料を原資として金融商品で運用し、収益源の一部としている。下期の国債運用は８社が上期に比べ増加。償還額が多い日本郵政傘下のかんぽ生命保険は減少する。（2022/10/25-20:41）

Many major Japanese life insurers plan to increase their investments in domestic bonds, mainly superlong-term Japanese government bonds, in the second half of fiscal 2022 on the back of a rebound in interest rates at home.
   In the six months to March 2023, eight of the country's 10 major life insurance firms--Nippon Life Insurance Co., Dai-ichi Life Insurance Co., Meiji Yasuda Life Insurance Co., Sumitomo Life Insurance Co., Taiyo Life Insurance Co., Daido Life Insurance Co., Fukoku Mutual Life Insurance Co. and Asahi Mutual Life Insurance Co.--plan to increase investments in domestic bonds from the fiscal 2022 first half, according to their asset management plans for the second-half period.
   Domestic bond investments are expected to fall at Japan Post Insurance Co. , under the aegis of Japan Post Holdings Co. , because many bonds in its portfolio are set to mature during the period. Such investments are seen leveling off at Taiju Life Insurance Co.
   Yields on superlong-term JGBs with a redemption period of 30 and 40 years, which had been very low reflecting the Bank of Japan's ultraeasy monetary policy, are now on a rising trend in tandem with climbs in foreign interest rates.
   "With the yields (on 30-year JGBs) standing around 1.5 pct, the current investment environment is much better compared with the past few years," senior Nippon Life official Akira Tsuzuki said.