NEW JAPAN POST INSURER WILL DIVERSIFY ASSETS

The Japanese postal life assurer scheduled to come into being on October 1 when the privatisation of Japan Post finally gets underway will allocate between 1% and 2% of its assets to syndicated loan services and stocks, reports Nikkei. Currently the assurer has 58% of its assets invested in government bonds, 11% in corporate bonds and 19% in loans, mainly to local governments. It will also apply to the Financial Services Agency for permission to invest in stocks on its own account, rather than through a fund manager, the report claimed.