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Investments, Life/Annuity Insurers, 2021-2023 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2021 2022 2023 2021 2022 2023
BondsÌý $3,532.5 $3,618.0 $3,644.5 70.01% 69.61% 68.14%
Stocks $141.6 $126.0 $131.6 2.81% 2.42% 2.46%
ÌýÌýÌýÌý Preferred stockÌý 20.5 17.1 17.6 0.41 0.33 0.33
ÌýÌýÌýÌý Common stockÌý 121.0 108.8 113.9 2.40 2.09 2.13
Mortgage loans on real estate $639.9 $694.4 $732.9 12.68% 13.36% 13.70%
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 631.9 685.1 723.5 12.52 13.18 13.53
ÌýÌýÌýÌý Real estate loans less first liensÌý 8.0 9.3 9.4 0.16 0.18 0.18
Real estate $22.8 $22.6 $22.7 0.45% 0.43% 0.42%
ÌýÌýÌýÌý Occupied propertiesÌý 6.0 5.7 5.4 0.12 0.11 0.10
ÌýÌýÌýÌý Income generating propertiesÌý 16.4 16.6 16.8 0.33 0.32 0.31
ÌýÌýÌýÌý Properties for saleÌý 0.4 0.3 0.5 0.01 0.01 0.01
Cash, cash equivalent and short term investmentsÌý 147.8 143.2 189.0 2.93 2.75 3.53
Contract loans including premium notesÌý 131.5 131.4 138.5 2.61 2.53 2.59
Derivatives 96.8 95.4 102.0 1.92 1.83 1.91
Other invested assetsÌý 292.3 320.5 340.9 5.79 6.17 6.37
Receivables for securitiesÌý 9.3 9.9 8.7 0.18 0.19 0.16
Securities lending reinvested collateral assets 19.5 14.3 15.4 0.39 0.28 0.29
Write-ins for invested assetsÌý 11.9 21.8 22.1 0.24 0.42 0.41
Total cash and invested assetsÌý $5,045.8 $5,197.4 $5,348.2 100.0% 100.0% 100.0%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 

Archived Tables

INVESTMENTS, LIFE/HEALTH INSURERS, 2004-2008
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ÌýÌýÌý ÌýÌýÌýAmount ($ billions) ÌýPercent of total investments
Investment type 2004 2007 2008 2004 2007 2008
Bonds $2,049.4 $2,164.1 $2,147.1 75.88% 73.26% 71.27%
Stocks 99.3 141.2 114.2 3.68 4.78 3.79
ÌýÌýÌýÌý Preferred stocks 32.5 65.6 63.7 1.20 2.22 2.12
ÌýÌýÌýÌý Common stocks 66.8 75.6 50.5 2.47 2.56 1.68
Mortgage loans on real estate 266.1 315.1 327.4 9.85 10.67 10.87
ÌýÌýÌýÌý First liens 265.0 313.1 325.1 9.81 10.60 10.79
ÌýÌýÌýÌý Other than first liens 1.1 2.0 2.3 0.04 0.07 0.08
Real estate 19.6 19.6 20.0 0.72 0.66 0.67
ÌýÌýÌýÌý Properties occupied byÌýcompany 5.8 5.9 5.9 0.22 0.20 0.20
ÌýÌýÌýÌý Properties held for income production 12.3 12.7 13.8 0.46 0.43 0.46
ÌýÌýÌýÌý Properties held for sale 1.4 0.9 0.4 0.05 0.03 0.01
Cash, cash equivalent and short-term investments 74.7 79.2 146.5 2.76 2.68 4.86
Contract loans 105.6 113.5 118.1 3.91 3.84 3.92
Other invested assets 70.2 102.5 103.2 2.60 3.47 3.42
Receivables for securities 2.5 2.4 3.0 0.09 0.08 0.10
Aggregate write-ins for invested assets 13.5 16.4 36.0 0.50 0.56 1.20
Total cash and invested assets $2,700.8 $2,954.0 $3,012.8 100.00% 100.00% 100.00%

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.

 
INVESTMENTS, LIFE/HEALTH INSURERS, 2005-2009 (1)
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Ìý Amount ($ billions) Percent of total investments
Investment type 2005 2008 2009 2005 2008 2009
BondsÌý $2,145.2 $2,150.7 $2,291.1 76.61% 71.25% 74.62%
Stocks 98.7 112.3 72.7 3.52 3.72 2.37
ÌýÌýÌýÌý Preferred stockÌý 25.6 63.8 11.7 0.91 2.11 0.38
ÌýÌýÌýÌý Common stockÌý 73.1 48.5 61.0 2.61 1.61 1.99
Mortgage loans on real estate 276.5 327.8 315.7 9.87 10.86 10.28
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 275.2 325.4 313.0 9.83 10.78 10.19
ÌýÌýÌýÌý Real estate loans less first liensÌý 1.3 2.3 2.8 0.05 0.08 0.09
Real estate 19.1 20.0 19.5 0.68 0.66 0.63
ÌýÌýÌýÌý Occupied propertiesÌý 5.3 5.9 6.2 0.19 0.20 0.20
ÌýÌýÌýÌý Income generating propertiesÌý 12.8 13.8 12.9 0.46 0.46 0.42
ÌýÌýÌýÌý Properties for saleÌý 0.9 0.4 0.4 0.03 0.01 0.01
Cash, cash equivalent and short term assetsÌý 61.9 146.8 122.8 2.21 4.86 4.00
Contract loans including premium notesÌý 106.4 119.2 120.0 3.80 3.95 3.91
Long-term investmentsÌý 77.0 102.8 105.3 2.75 3.41 3.43
Receivables for securitiesÌý 3.0 3.0 2.0 0.11 0.10 0.06
Write-ins for invested assetsÌý 12.5 36.0 21.2 0.45 1.19 0.69
Total cash and invested assetsÌý $2,800.3 $3,018.6 $3,070.3 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

Source: SNL Financial LC.

 
INVESTMENTS, LIFE/HEALTH INSURERS, 2008-2010 (1)
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Ìý Amount ($ billions) Percent of total investments
Investment type 2008 2009 2010 2008 2009 2010
BondsÌý $2,149.6 $2,291.4 $2,425.9 71.22% 74.59% 75.93%
Stocks 113.2 73.9 76.9 3.75 2.41 2.41
ÌýÌýÌýÌý Preferred stockÌý 64.0 11.7 9.1 2.12 0.38 0.28
ÌýÌýÌýÌý Common stockÌý 49.2 62.2 67.7 1.63 2.03 2.12
Mortgage loans on real estate 328.0 316.0 307.2 10.87 10.29 9.61
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 325.7 313.2 305.0 10.79 10.20 9.55
ÌýÌýÌýÌý Real estate loans less first liensÌý 2.3 2.8 2.1 0.08 0.09 0.07
Real estate 20.0 19.5 19.7 0.66 0.63 0.62
ÌýÌýÌýÌý Occupied propertiesÌý 5.9 6.2 5.7 0.20 0.20 0.18
ÌýÌýÌýÌý Income generating propertiesÌý 13.8 12.9 13.6 0.46 0.42 0.43
ÌýÌýÌýÌý Properties for saleÌý 0.4 0.4 0.3 0.01 0.01 0.01
Cash, cash equivalent and short term assetsÌý 146.3 122.7 95.1 4.85 3.99 2.98
Contract loans including premium notesÌý 119.3 120.0 123.5 3.95 3.91 3.86
Derivatives NA NA 21.6 NA NA 0.68
Other invested assetsÌý 102.8 105.3 112.2 3.40 3.43 3.51
Receivables for securitiesÌý 3.0 2.0 1.8 0.10 0.07 0.06
Securities lending reinvested collateral assets NA NA 10.6 NA NA 0.33
Write-ins for invested assetsÌý 36.0 21.2 0.5 1.19 0.69 0.02
Total cash and invested assetsÌý $3,018.3 $3,071.9 $3,194.9 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

NA=Data not available.

Source: SNL Financial LC.

 
INVESTMENTS, LIFE/HEALTH INSURERS, 2009-2011 (1)
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Ìý Amount ($ billions) Percent of total investments
Investment type 2009 2010 2011 2009 2010 2011
BondsÌý $2,291.2 $2,426.5 $2,536.3 74.59% 75.92% 75.47%
Stocks 73.9 77.9 78.4 2.41 2.44 2.33
ÌýÌýÌýÌý Preferred stockÌý 11.7 9.1 8.1 0.38 0.29 0.24
ÌýÌýÌýÌý Common stockÌý 62.2 68.7 70.3 2.03 2.15 2.09
Mortgage loans on real estate 316.0 307.4 323.1 10.29 9.62 9.61
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 313.2 305.2 321.1 10.20 9.55 9.56
ÌýÌýÌýÌý Real estate mortgage loans less first liensÌý 2.8 2.1 2.0 0.09 0.07 0.06
Real estate 19.5 19.7 20.6 0.63 0.62 0.61
ÌýÌýÌýÌý Occupied propertiesÌý 6.2 5.7 5.7 0.20 0.18 0.17
ÌýÌýÌýÌý Income generating propertiesÌý 12.9 13.6 14.6 0.42 0.43 0.43
ÌýÌýÌýÌý Properties for saleÌý 0.4 0.3 0.3 0.01 0.01 0.01
Cash, cash equivalent and short-term investmentsÌý 122.0 95.1 96.5 3.97 2.97 2.87
Contract loans including premium notesÌý 120.0 123.5 126.0 3.91 3.86 3.75
Derivatives NA 21.6 44.4 NA 0.68 1.32
Other invested assetsÌý 105.3 111.4 124.0 3.43 3.48 3.69
Receivables for securitiesÌý 2.0 1.8 2.1 0.07 0.06 0.06
Securities lending reinvested collateral assets NA 10.6 10.1 NA 0.33 0.30
Write-ins for invested assetsÌý 21.2 0.5 0.2 0.69 0.02 0.01
Total cash and invested assetsÌý $3,071.9 $3,196.2 $3,360.5 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

NA=Data not available.

Source: SNL Financial LC.

 
INVESTMENTS, LIFE/HEALTH INSURERS, 2011-2013 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2011 2012 2013 2011 2012 2013
BondsÌý $2,531.8 $2,543.3 $2,601.3 75.34% 74.65% 74.70%
Stocks 78.4 78.0 80.3 2.33 2.29 2.31
ÌýÌýÌýÌý Preferred stockÌý 8.1 7.8 8.3 0.24 0.23 0.24
ÌýÌýÌýÌý Common stockÌý 70.3 70.2 72.1 2.09 2.06 2.07
Mortgage loans on real estate 323.1 335.6 353.1 9.61 9.85 10.14
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 321.1 333.1 350.1 9.56 9.78 10.05
ÌýÌýÌýÌý Real estate loans less first liensÌý 2.0 2.5 3.1 0.06 0.07 0.09
Real estate 20.6 21.4 22.4 0.61 0.63 0.64
ÌýÌýÌýÌý Occupied propertiesÌý 5.7 5.5 5.4 0.17 0.16 0.16
ÌýÌýÌýÌý Income generating propertiesÌý 14.6 15.4 16.0 0.43 0.45 0.46
ÌýÌýÌýÌý Properties for saleÌý 0.3 0.5 0.9 0.01 0.02 0.03
Cash, cash equivalent and short term investmentsÌý 96.5 106.6 94.8 2.87 3.13 2.72
Contract loans including premium notesÌý 126.0 127.5 128.4 3.75 3.74 3.69
Derivatives 44.4 41.6 37.8 1.32 1.22 1.09
Other invested assetsÌý 124.0 136.6 145.5 3.69 4.01 4.18
Receivables for securitiesÌý 2.1 2.1 3.2 0.06 0.06 0.09
Securities lending reinvested collateral assets 10.1 10.8 13.8 0.30 0.32 0.40
Write-ins for invested assetsÌý 0.2 -0.3 1.6 0.01 -0.01 0.05
Total cash and invested assetsÌý $3,360.5 $3,407.1 $3,482.2 100.00% 100.00% 100.00%

(1) Includes cash and net admitted assets of life/health insurers.

Source: SNL Financial LC.

 
INVESTMENTS, LIFE/HEALTH INSURERS, 2012-2014 (1)
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Ìý Amount Percent of total investments
Investment type 2012 2013 2014 2012 2013 2014
Bonds $2,543.5 $2,601.5 $2,685.2 74.65% 74.61% 73.85%
Stocks 79.3 82.0 87.8 2.33 2.35 2.42
ÌýÌýÌýÌý Preferred stock 7.8 8.3 9.1 0.23 0.24 0.25
ÌýÌýÌýÌý Common stock 71.5 73.8 78.7 2.10 2.12 2.16
Mortgage loans on real estate 335.6 353.2 373.0 9.85 10.13 10.26
ÌýÌýÌýÌý First lien real estate mortgage loans 333.1 350.1 368.4 9.78 10.04 10.13
ÌýÌýÌýÌý Real estate loans, less first liens 2.5 3.1 4.6 0.07 0.09 0.13
Real estate 20.9 21.4 21.5 0.61 0.61 0.59
ÌýÌýÌýÌý Occupied properties 5.5 5.4 5.5 0.16 0.16 0.15
ÌýÌýÌýÌý Income generating properties 15.4 16.0 16.0 0.45 0.46 0.44
ÌýÌýÌýÌý Properties for sale 0.5 1.0 0.4 0.02 0.03 0.01
Cash, cash equivalent and short term investments 106.6 94.8 100.0 3.13 2.72 2.75
Contract loans including premium notes 127.6 128.5 130.2 3.74 3.69 3.58
Derivatives 41.6 37.8 56.5 1.22 1.08 1.55
Other invested assets 138.6 147.7 164.2 4.07 4.23 4.51
Receivables for securities 2.1 3.2 2.2 0.06 0.09 0.06
Securities lending reinvested collateral assets 10.8 13.8 11.2 0.32 0.40 0.31
Write-ins for invested assets -0.3 1.7 4.0 -0.01 0.05 0.11
Total cash and invested assets $3,407.0 $3,486.6 $3,636.2 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

Source: SNL Financial LC.

 
Investments, Life/Health Insurers, 2013-2015 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2013 2014 2015 2013 2014 2015
Bonds $2,601.2 $2,684.9 $2,734.1 74.70% 73.93% 73.82%
Stocks 80.4 86.2 84.9 2.31 2.37 2.29
ÌýÌýÌýÌý Preferred stock 8.3 9.1 9.6 0.24 0.25 0.26
ÌýÌýÌýÌý Common stock 72.1 77.0 75.2 2.07 2.12 2.03
Mortgage loans on real estate 353.1 373.0 404.2 10.14 10.27 10.91
ÌýÌýÌýÌý First lien real estate mortgage loans 350.1 368.4 397.4 10.05 10.14 10.73
ÌýÌýÌýÌý Real estate loans less first liens 3.1 4.6 6.8 0.09 0.13 0.18
Real estate 22.4 21.9 23.7 0.64 0.60 0.64
ÌýÌýÌýÌý Occupied properties 5.4 5.5 5.5 0.16 0.15 0.15
ÌýÌýÌýÌý Income generating properties 16.0 16.0 17.8 0.46 0.44 0.48
ÌýÌýÌýÌý Properties for sale 0.9 0.4 0.4 0.03 0.01 0.01
Cash, cash equivalent and short term investments 94.8 100.0 103.3 2.72 2.75 2.79
Contract loans including premium notes 128.4 130.1 126.8 3.69 3.58 3.42
Derivatives 37.8 56.5 53.8 1.09 1.56 1.45
Other invested assets 145.5 161.8 154.9 4.18 4.46 4.18
Receivables for securities 3.2 2.2 2.3 0.09 0.06 0.06
Securities lending reinvested collateral assets 13.8 11.2 11.7 0.40 0.31 0.32
Write-ins for invested assets 1.6 4.0 4.1 0.05 0.11 0.11
Total cash and invested assets $3,482.2 $3,631.7 $3,703.9 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Health Insurers, 2014-2016 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2014 2015 2016 2014 2015 2016
Bonds $2,684.9 $2,734.1 $2,860.7 73.93% 73.82% 73.50%
Stocks $86.2 $84.9 $96.0 2.37% 2.29% 2.47%
ÌýÌýÌýÌý Preferred stock 9.1 9.6 9.6 0.25 0.26 0.25
ÌýÌýÌýÌý Common stock 77.0 75.2 86.4 2.12 2.03 2.22
Mortgage loans on real estate $373.0 $404.2 $437.7 10.27% 10.91% 11.25%
ÌýÌýÌýÌý First lien real estate mortgage loans 368.4 397.4 430.1 10.14 10.73 11.05
ÌýÌýÌýÌý Real estate loans less first liens 4.6 6.8 7.6 0.13 0.18 0.20
Real estate $21.9 $23.7 $24.5 0.60% 0.64% 0.63%
ÌýÌýÌýÌý Occupied properties 5.5 5.5 6.0 0.15 0.15 0.15
ÌýÌýÌýÌý Income generating properties 16.0 17.8 17.6 0.44 0.48 0.45
ÌýÌýÌýÌý Properties for saleÌý 0.4 0.4 0.9 0.01 0.01 0.02
Cash, cash equivalent and short term investments 100.0 103.3 101.4 2.75 2.79 2.61
Contract loans including premium notes 130.1 126.8 126.9 3.58 3.42 3.26
Derivatives 56.5 53.8 62.0 1.56 1.45 1.59
Other invested assets 161.8 154.9 158.3 4.46 4.18 4.07
Receivables for securities 2.2 2.3 3.9 0.06 0.06 0.10
Securities lending reinvested collateral assets 11.2 11.7 12.6 0.31 0.32 0.32
Write-ins for invested assets 4.0 4.1 8.0 0.11 0.11 0.20
Total cash and invested assets $3,631.7 $3,703.9 $3,891.9 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/health insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life Insurers, 2015-2017 (1)
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Ìý Amount Percent of total investments
Investment type 2015 2016 2017 2015 2016 2017
BondsÌý $2,734.0 $2,860.7 $2,973.5 73.82% 73.50% 72.98%
Stocks $84.9 $96.0 $104.9 2.29% 2.47% 2.57%
ÌýÌýÌýÌý Preferred stockÌý 9.6 9.6 10.5 0.26 0.25 0.26
ÌýÌýÌýÌý Common stockÌý 75.3 86.4 94.4 2.03 2.22 2.32
Mortgage loans on real estate $404.2 $437.7 $477.0 10.91% 11.25% 11.71%
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 397.4 430.1 468.5 10.73 11.05 11.50
ÌýÌýÌýÌý Real estate loans less first liensÌý 6.8 7.6 8.6 0.18 0.20 0.21
Real estate $23.7 $24.5 $23.5 0.64% 0.63% 0.58%
ÌýÌýÌýÌý Occupied propertiesÌý 5.5 6.0 6.0 0.15 0.15 0.15
ÌýÌýÌýÌý Income generating propertiesÌý 17.8 17.6 17.0 0.48 0.45 0.42
ÌýÌýÌýÌý Properties for saleÌý 0.4 0.9 0.5 0.01 0.02 0.01
Cash, cash equivalent and short term investmentsÌý 103.3 101.4 104.6 2.79 2.61 2.57
Contract loans including premium notesÌý 126.8 126.9 128.9 3.42 3.26 3.16
Derivatives 53.8 62.0 58.7 1.45 1.59 1.44
Other invested assetsÌý 154.9 158.3 174.7 4.18 4.07 4.29
Receivables for securitiesÌý 2.3 3.9 5.3 0.06 0.10 0.13
Securities lending reinvested collateral assets 11.7 12.6 16.9 0.32 0.32 0.41
Write-ins for invested assetsÌý 4.1 8.0 6.4 0.11 0.20 0.16
Total cash and invested assetsÌý $3,703.9 $3,891.9 $4,074.4 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/annuity insurers. Excludes investments of separate accounts.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Annuity Insurers, 2016-2018 (1)
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($ billions, end of year)

Ìý AmountÌý Percent of total investments
Investment type 2016 2017 2018 2016 2017 2018
Bonds $2,860.6 $2,973.5 $2,989.1 73.50% 72.97% 72.48%
Stocks $96.0 $104.9 $94.1 2.47% 2.57% 2.28%
ÌýÌýÌýÌý Preferred stockÌý 9.6 10.5 12.3 0.25 0.26 0.30
ÌýÌýÌýÌý Common stockÌý 86.4 94.5 81.8 2.22 2.32 1.98
Mortgage loans on real estate $437.7 $477.0 $521.5 11.25% 11.71% 12.65%
ÌýÌýÌýÌý First lien real estate mortgage loans 430.1 468.5 512.6 11.05 11.50 12.43
ÌýÌýÌýÌý Real estate loans less first liensÌý 7.6 8.6 8.9 0.20 0.21 0.22
Real estate $24.5 $23.5 $20.4 0.63% 0.58% 0.50%
ÌýÌýÌýÌý Occupied propertiesÌý 6.0 6.0 5.8 0.15 0.15 0.14
ÌýÌýÌýÌý Income generating propertiesÌý 17.6 17.0 14.1 0.45 0.42 0.34
ÌýÌýÌýÌý Properties for saleÌý 0.9 0.5 0.5 0.02 0.01 0.01
Cash, cash equivalent and short term investments 101.4 104.7 104.7 2.61 2.57 2.54
Contract loans including premium notesÌý 126.9 128.9 129.2 3.26 3.16 3.13
Derivatives 62.0 58.7 56.4 1.59 1.44 1.37
Other invested assetsÌý 158.3 175.1 187.1 4.07 4.30 4.54
Receivables for securitiesÌý 3.9 5.3 4.5 0.10 0.13 0.11
Securities lending reinvested collateral assets 12.6 16.9 12.6 0.32 0.41 0.30
Write-ins for invested assetsÌý 8.0 6.4 4.5 0.20 0.16 0.11
Total cash and invested assetsÌý $3,891.9 $4,074.8 $4,124.1 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Annuity Insurers, 2017-2019 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2017 2018 2019 2017 2018 2019
Bonds $2,973.5 $2,989.1 $3,087.8 72.97% 72.48% 71.11%
Stocks $104.9 $94.1 $105.3 2.57% 2.28% 2.43%
ÌýÌýÌýÌý Preferred stock 10.5 12.3 12.9 0.26 0.30 0.30
ÌýÌýÌýÌý Common stock 94.5 81.8 92.4 2.32 1.98 2.13
Mortgage loans on real estate $477.0 $521.5 $565.5 11.71% 12.65% 13.02%
ÌýÌýÌýÌý First lien real estate mortgage loans 468.5 512.6 557.3 11.50 12.43 12.83
ÌýÌýÌýÌý Real estate loans less first liens 8.6 8.9 8.3 0.21 0.22 0.19
Real estate $23.5 $20.4 $23.0 0.58% 0.50% 0.53%
ÌýÌýÌýÌý Occupied properties 6.0 5.8 5.9 0.15 0.14 0.14
ÌýÌýÌýÌý Income generating properties 17.0 14.1 16.0 0.42 0.34 0.37
ÌýÌýÌýÌý Properties for sale 0.5 0.5 1.1 0.01 0.01 0.03
Cash, cash equivalent and short term investments 104.7 104.7 118.7 2.57 2.54 2.73
Contract loans including premium notes 128.9 129.2 131.0 3.16 3.13 3.02
Derivatives 58.7 56.4 79.5 1.44 1.37 1.83
Other invested assets 175.1 187.1 206.0 4.30 4.54 4.74
Receivables for securities 5.3 4.5 5.0 0.13 0.11 0.11
Securities lending reinvested collateral assets 16.9 12.6 15.5 0.41 0.30 0.36
Write-ins for invested assets 6.4 4.5 5.3 0.16 0.11 0.12
Total cash and invested assets $4,074.8 $4,124.1 $4,342.5 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Annuity Insurers, 2018-2020 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2018 2019 2020 2018 2019 2020
Bonds $2,989.1 $3,087.8 $3,272.1 72.48% 71.11% 70.24%
Stocks $94.1 $105.3 $117.1 2.28% 2.43% 2.51%
ÌýÌýÌýÌý Preferred stockÌý 12.3 12.9 14.6 0.30 0.30 0.31
ÌýÌýÌýÌý Common stockÌý 81.8 92.4 102.5 1.98 2.13 2.20
Mortgage loans on real estate $521.5 $565.5 $587.2 12.65% 13.02% 12.60%
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 512.6 557.3 579.2 12.43 12.83 12.43
ÌýÌýÌýÌý Real estate loans less first liensÌý 8.9 8.3 8.0 0.22 0.19 0.17
Real estate $20.4 $23.0 $22.6 0.50% 0.53% 0.49%
ÌýÌýÌýÌý Occupied propertiesÌý 5.8 5.9 6.1 0.14 0.14 0.13
ÌýÌýÌýÌý Income generating propertiesÌý 14.1 16.0 16.0 0.34 0.37 0.34
ÌýÌýÌýÌý Properties for saleÌý 0.5 1.1 0.6 0.01 0.03 0.01
Cash, cash equivalent and short term investments 104.7 118.7 151.0 2.54 2.73 3.24
Contract loans including premium notesÌý 129.2 131.0 130.4 3.13 3.02 2.80
Derivatives 56.4 79.5 121.5 1.37 1.83 2.61
Other invested assetsÌý 187.1 206.0 227.4 4.54 4.74 4.88
Receivables for securitiesÌý 4.5 5.0 7.0 0.11 0.11 0.15
Securities lending reinvested collateral assets 12.6 15.5 16.2 0.30 0.36 0.35
Write-ins for invested assetsÌý 4.5 5.3 6.1 0.11 0.12 0.13
Total cash and invested assetsÌý $4,124.1 $4,342.5 $4,658.6 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Annuity Insurers, 2019-2021 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2019 2020 2021 2019 2020 2021
BondsÌý $3,087.8 $3,272.1 $3,415.5 71.11% 70.24% 69.88%
Stocks 105.3 117.1 133.5 2.43 2.51 2.73
ÌýÌýÌýÌý Preferred stock 12.9 14.6 19.2 0.30 0.31 0.39
ÌýÌýÌýÌý Common stock 92.4 102.5 114.3 2.13 2.20 2.34
Mortgage loans on real estate 565.5 587.2 625.9 13.02 12.60 12.81
ÌýÌýÌýÌý First lien real estate mortgage loans 557.3 579.2 617.9 12.83 12.43 12.64
ÌýÌýÌýÌý Real estate loans less first liens 8.3 8.0 8.0 0.19 0.17 0.16
Real estate 23.0 22.6 22.5 0.53 0.49 0.46
ÌýÌýÌýÌý Occupied properties 5.9 6.1 5.8 0.14 0.13 0.12
ÌýÌýÌýÌý Income generating properties 16.0 16.0 16.3 0.37 0.34 0.33
ÌýÌýÌýÌý Properties for sale 1.1 0.6 0.4 0.03 0.01 0.01
Cash, cash equivalent and short term investments 118.7 151.0 143.6 2.73 3.24 2.94
Contract loans including premium notes 131.0 130.4 128.7 3.02 2.80 2.63
Derivatives 79.5 121.5 96.6 1.83 2.61 1.98
Other invested assets 206.0 227.4 281.6 4.74 4.88 5.76
Receivables for securities 5.0 7.0 9.0 0.11 0.15 0.18
Securities lending reinvested collateral assets 15.5 16.2 18.8 0.36 0.35 0.38
Write-ins for invested assets 5.3 6.1 11.9 0.12 0.13 0.24
Total cash and invested assets $4,342.5 $4,658.6 $4,887.7 100.00% 100.00% 100.00%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

 
Investments, Life/Annuity Insurers, 2020-2022 (1)
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($ billions, end of year)

Ìý Amount Percent of total investments
Investment type 2020 2021 2022 2020 2021 2022
Bonds $3,272.1 $3,415.5 $3,497.6 70.24% 69.88% 69.42%
Stocks $117.1 $133.5 $120.5 2.51% 2.73% 2.39%
ÌýÌýÌýÌý Preferred stockÌý 14.6 19.2 16.0 0.31 0.39 0.32
ÌýÌýÌýÌý Common stockÌý 102.5 114.3 104.5 2.20 2.34 2.07
Mortgage loans on real estate $587.2 $625.9 $679.5 12.60% 12.81% 13.49%
ÌýÌýÌýÌý First lien real estate mortgage loansÌý 579.2 617.9 670.2 12.43 12.64 13.30
ÌýÌýÌýÌý Real estate loans less first liensÌý 8.0 8.0 9.3 0.17 0.16 0.18
Real estate $22.6 $22.5 $22.3 0.49% 0.46% 0.44%
ÌýÌýÌýÌý Occupied propertiesÌý 6.1 5.8 5.5 0.13 0.12 0.11
ÌýÌýÌýÌý Income generating propertiesÌý 16.0 16.3 16.5 0.34 0.33 0.33
ÌýÌýÌýÌý Properties for saleÌý 0.6 0.4 0.3 0.01 0.01 0.01
Cash, cash equivalent and short term investmentsÌý 151.0 143.6 140.7 3.24 2.94 2.79
Contract loans including premium notesÌý 130.4 128.7 128.5 2.80 2.63 2.55
Derivatives 121.5 96.6 95.2 2.61 1.98 1.89
Other invested assetsÌý 227.4 281.6 308.4 4.88 5.76 6.12
Receivables for securitiesÌý 7.0 9.0 9.8 0.15 0.18 0.19
Securities lending reinvested collateral assets 16.2 18.8 13.6 0.35 0.38 0.27
Write-ins for invested assetsÌý 6.1 11.9 21.8 0.13 0.24 0.43
Total cash and invested assetsÌý $4,658.6 $4,887.7 $5,038.1 100.0% 100.0% 100.0%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.