Sumitomo Life private credit allocation is set to increase as the insurer considers investing about JPY300bn(USD2bn) in the asset class in the fiscal year starting April. The company already holds about JPY1.6tr in private credit, including CLOs, and sees the asset class as attractive due to higher spreads and long-duration matching with liabilities. It is also targeting about JPY700bn in ESG-related investments over three years. The Sumitomo Life private credit allocation hi