Japan Post Insurance, Japan's largest insurer with around $846bn in assets, is focusing investment in Japanese stocks and foreign bonds, according to a Reuters news report. The government-controlled insurance company's move suggests confidence in the success of Prime Minister Shinzo Abe's policies in pursuit of higher returns, the news agency said, citing a person with knowledge of the investment strategy.
Japan Post is increasing its investment in Japanese stocks by an estimated 300-350bn yen, or up to $3.5bn, in the fiscal year that began in April, a rise of more than 50% from last year.
Japan Post Insurance, known as Kampo, has also earmarked the equivalent of $6.4bn for new investment in overseas bonds, also up by more than 50%, according to a plan vetted and released by a government oversight panel for the insurer in March.
The move highlights increased support for the government policy dubbed 'Abenomics', which was instigated by the Japanese Prime Minister in December 2012 to stimulate the Japanese economy and includes a continued programme of aggressive bond buying by the Bank of Japan and monetary easing and structural reforms.
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Companies:Japan Post Insurance
