Life insurance firms bought most long-term Government bonds
Life insurance firms bought most long-term Government bonds
Life insurance companies were the major investors in Government bonds in 2016.
Statistics from the Insurance Supervisory Authority Department under the Ministry of Finance showed that life insurance firms poured more than VND29 trillion (US$1.28 billion) in long-term Government bonds of 15-year, 20-year and 30-year maturity terms.
Life insurance firms bought nearly 90 per cent of the 30-year Government bonds, worth more than VND21 trillion. They were also the buyers of more than 41 per cent of the 20-year bonds and 19 per cent of the 15-year bonds.
The State Treasury has raised VND16.8 trillion by auctioning Government bonds this year, while raising more than VND6.8 trillion on Wednesday alone.
The finance ministry has planned to raise a total of VND250 trillion for the State budget in 2017 by auctioning Government bonds.
In 2016, a record VND281.75 trillion was collected through bonds.
