Negative rates force decline in yen life products

Japan’s life firms are increasingly focused on foreign-currency products

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European insurers that are grappling to redesign life insurance products to deal with negative sovereign bond yields might look abroad for lessons in what can be done. In Japan, negative interest rates are increasingly pushing annuity buyers towards non-yen-denominated life policies, with insurers passing on currency risk to savers – a trend that regulators have been comfortable with so far.

"Yen savings products are really under a lot of pressure, and many companies are withdrawing their yen s

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