Nippon Life Insurance recorded a ¥70 billion impairment loss for the year ended March 31 amid the bond market decline.
Nippon Life Insurance, Japan's largest life insurer, booked an impairment loss of ¥70 billion ($440 million).
This is the company's first such loss during the current bond rout.
The write-down applies to the fiscal year that ended on March 31.
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