Nippon Life Insurance Co. to double investments in foreign U.S. and European real estate

Nippon Life Insurance Co., Japan’s largest private life insurer, plans to double its investment in foreign real estate and infrastructure by early next year, reported Reuters.

Nippon Life plans to commit a total of ¥350 billion ($3.2 billion) to investments in real estate and infrastructure, mostly in North America and Europe, through funds of funds.

The move came amid growing expectation that low interest rates in Japan and other developed countries are likely to stay for a long time and therefore the insurer will need a new source of income.