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Life Insurance Corporation of India (LIC) has requested the Reserve Bank of India (RBI) to introduce long-term government bonds, including 100-year bonds, to support their investment strategies for whole life insurance policies. This request was confirmed by Siddhartha Mohanty, Managing Director and Chief Executive of LIC, during an event in Mumbai. Speaking on the sidelines of the GCA25 conference, Mohanty explained that LIC’s investment portfolio heavily depends on long-term bonds to align with its whole life insurance product offerings.
These policies require stable and long-duration investments to ensure financial security and meet long-term payout obligations. Currently, the RBI allows the issuance of government bonds with tenures of 20 to 30 years, with some extended options like the recently introduced 40-year bonds. Mohanty revealed that LIC has been in discussions with RBI, urging them to consider introducing 50-year and even 100-year bonds. He highlighted that such bonds are already common in many global markets, yet India has not yet adopted this practice due to limited demand and low secondary market activity.
Introducing 100-year bonds could benefit institutional investors like LIC by providing stable, long-term investment options that align well with their extended liability timelines. These bonds are particularly useful for insurers, pension funds, and sovereign wealth funds, which require secure investments to fulfill obligations stretching across generations. Mohanty emphasized LIC's significant role in India's government securities (G-sec) market. The insurer has consistently played a prominent role in subscribing to a substantial portion of government bond issuances, accounting for over 20% of these investments. If approved, the introduction of 100-year bonds could revolutionize India's investment landscape, offering secure, long-term financial instruments for institutional investors. This move may also signal India's readiness to adopt global financial strategies to strengthen its economic stability and expand investment opportunities.
