Japan’s four primary life insurance providers—Nippon Life, Daiichi Life, Sumitomo Life, and Meiji Yasuda—saw unrealized losses on domestic bond holdings surge 7% during the second quarter of 2026. These paper losses reached a new record of $96 billion across the four institutions.
This quarterly result signifies the seventh consecutive period of rising valuation losses for the group. Each of the four major insurers reported individual increases in paper losses as domestic bond portfolios continued to face downward pressure.