InsuranceJapan insurers also face paper losses from falling bond pricesA Nikkei survey showed that profits have risen for 13 of 15 major life insurers. (Photo by Shun Kato)KENSHO MOTOWAKIMay 27, 2026 06:25 JSTTOKYO -- Combined core operating profit at major Japanese life insurers rose 14% to an all-time high of 4.4 trillion yen ($27.6 billion) in fiscal 2025, beating the previous year's record, thanks to an increase in government bond yields that has boosted investment returns.