2 Japan life insurers to raise green investments

Tokyo

TWO major Japanese life insurers, Meiji Yasuda Life and Nippon Life, have unveiled plans to diversify their credit investments, with a special focus on socially responsible debt, in a move that bankers say could expand global appetite for yen products.

Meiji Yasuda announced late last week that it would increase purchases of foreign and sustainability credit products to diversify and enhance its investments and lending activities. Under a three-year programme dubbed MY Innovation 2020, the insurer aims to almost quadruple investments and lending in foreign credit products to 800 billion yen (S$9.9 billion) from 200 billion-plus, while curtailing investment and lending in domestic credit products to 800 bi…