Japan's oldest and largest non-life insurer, Tokio Marine & Fire Insurance Co. Ltd., considers itself to be a pioneer in the domestic asset-backed market.

The firm was one of the first investors of collateralized loan and bond obligations in Japan, and since then has always been on the hunt for new assets classes, said Manabu Yukitomo, deputy manager of the firm's investment and structured finance group in Tokyo. "We are always interested in buying new products, and are one of the biggest buyers of domestic ABS," he said.

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