Nippon Life to up guaranteed yields

Nippon Life Insurance Co. said Thursday it will hike guaranteed yields on single-premium insurance policies by 0.05 to 0.1 percentage point on July 1, resulting in a discount of around 1 percent on premiums.

It will be the insurer's first increase in guaranteed yields since last June.

Nippon Life is hiking the yields because long-term interest rates in Japan have been rising, reflecting higher U.S. interest rates and speculation that the Bank of Japan could tighten credit further, company officials said.

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Nippon Life planning to raise yields