Hedging Versus Yen Rise by Japan's Insurers Falls to Decade Low [Financial Post (Toronto, Ontario, Canada)]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Japanese life insurers dialed back their protection against a rebounding home currency to a decade low and may cut those positions further in coming months. Nine of the nation's biggest life insurers had 47% of their foreign securities covered with derivatives that help shield them from losses in case the yen strengthens, according to the companies' earnings reports as of March 31 compiled by Bloomberg. That's the lowest since September 2011 and compares with a high of 63% in March 2020. Article content When insurers aren't hedging, it likely means they are expecting the yen to either weaken further, or even if it strengthens, it won't rise so much that it will cut into foreign investment gains in Japanese currency terms. The yen has weakened 1.4% against the dollar in the past month, the worst performer among Group-of-10 currencies. “Currency h
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MFG
Sec Filings
- 6/27/24 - Form 424B5
- 6/26/24 - Form IRANNOTICE
- 6/26/24 - Form 20-F
- MFG's page on the SEC website