Low interest rates, a sluggish stock market and a steady stream of policy terminations continued to squeeze major life insurers, according to results for the 2000 business year released Monday.
All in all, major life insurers reported drops in the balance of outstanding policies held during the 12 months ending March 31.
Nippon Life Insurance Co., the leading insurer, said its underlying "basic profit" for 2000 came to 618.8 billion yen, supported by cost cuts and a drop in benefit payouts due to reduced mortality rates.