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Sumitomo Life to outsource portion of investment assets

Written by Adam Cadle
21/10/2021

Sumitomo Life Insurance Company has decided to outsource a portion of its investment assets to Symetra Investment Management Company, for the purpose of increasing the group’s investment income over the medium to long term.

Sumitomo Life said the mandate, which is planned to be more than ¥2trn, will also help to achieve synergies across the group.

Given the continuing low interest rate environment, Sumitomo Life aims to increase its long-term and stable investment yield by expanding its investment in overseas credit assets, mainly in the US.

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