Dai-ichi Life Takes ¥140 Billion Loss Selling Off Long Bonds
Source: Live Mint (Bloomberg) — Dai-ichi Life Insurance Co. lost about ¥140 billion ($890 million) selling off bonds with longer maturities to prepare for higher interest rates. The insurer sold about ¥500 billion of Japanese government notes, mainly 20- to 40-year bonds, in the fiscal first half ended September. The sales were concentrated in the…