Opportunities for SSAs as Taiwanese lifers look abroad
New opportunities for issuers of dollar callable zeros could open up in the coming months, with Taiwanese life insurance companies — the main buyer of the product — tipped to look overseas to combat low domestic interest rates.
Supranationals and agencies are likely to be the biggest beneficiaries, said dealers, despite a new law that allows the investors to buy sub-investment grade corporate bonds.
Taiwanese insurance companies’ holdings of overseas debt — including fixed income and equity — increased to 40.9% in 2012 from 34.7% in
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