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Story summary
- Sumitomo Life Insurance Co. will allocate up to 1 trillion yen for overseas acquisitions through March 2029.
- President Yukinori Takada says Japan’s shrinking population limits domestic growth, prompting the overseas push.
- The insurer will use Singapore Life Holdings for Southeast Asian targets and Symetra Financial for U.S. deals.
- Takada adds Sumitomo Life will invest in private credit and keep bond holdings unchanged despite higher Japanese rates.