The losses on domestic bonds held by Japan's four major life insurers have increased to ¥4.622 trillion ($30 billion) as of the end of September, more than doubling from ¥2.051 trillion reported in March. This rise is due to the impact of rising interest rates on the valuation of these bonds.

Although there has been a partial recovery from the peak losses of ¥5.507 trillion in June, the ongoing deficits raise concerns about the insurers' financial stability and their ability to meet liabilities. This situation highlights the challenges faced by these firms in navigating a changing interest rate environment, which could further complicate their financial health.