Financial Accounts of the United States - Z.1
L.116.s Life insurance companies: separate accounts
Billions of dollars; amounts outstanding end of period, not seasonally adjusted
| Line | Description | Series | 2023 | 2024 | 2025 | 2024:Q3 | 2024:Q4 | 2025:Q1 | 2025:Q2 | 2025:Q3 | 2025:Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Line 1 | Total financial assets | FL544090085 | 3027.7 | 3240.0 | 3512.1 | 3290.8 | 3240.0 | 3156.8 | 3342.0 | 3479.8 | 3512.1 |
| Line 2 | Checkable deposits and currency | FL543020083 | 42.1 | 47.6 | 51.0 | 47.6 | 47.6 | 48.4 | 49.3 | 50.1 | 51.0 |
| Line 3 | Money market fund shares | FL543034385 | 36.1 | 37.0 | 39.0 | 36.5 | 37.0 | 39.8 | 39.7 | 38.9 | 39.0 |
| Line 4 | Debt securities | LM544022085 | 549.1 | 602.7 | 729.5 | 639.0 | 602.7 | 617.6 | 647.0 | 682.9 | 729.5 |
| Line 5 | Open market paper | FL543069183 | 9.6 | 10.7 | 2.0 | 11.3 | 10.7 | 8.0 | 6.4 | 4.2 | 2.0 |
| Line 6 | Treasury securities | LM543061183 | 41.0 | 43.2 | 53.2 | 46.3 | 43.2 | 44.5 | 46.8 | 49.6 | 53.2 |
| Line 7 | Agency- and GSE-backed securities | LM543061783 | 76.5 | 75.6 | 93.3 | 82.3 | 75.6 | 77.8 | 81.8 | 86.7 | 93.3 |
| Line 8 | Municipal securities | LM543062083 | 15.1 | 13.2 | 16.3 | 14.8 | 13.2 | 13.6 | 14.3 | 15.1 | 16.3 |
| Line 9 | Corporate and foreign bonds | LM543063085 | 407.0 | 460.1 | 564.6 | 484.3 | 460.1 | 473.7 | 497.8 | 527.4 | 564.6 |
| Line 10 | Loans | FL544023085 | 73.9 | 86.9 | 105.1 | 86.0 | 86.9 | 89.5 | 94.0 | 99.6 | 105.1 |
| Line 11 | Other loans and advances | FL543069483 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 12 | Mortgages | FL543065083 | 73.9 | 86.9 | 105.1 | 86.0 | 86.9 | 89.5 | 94.0 | 99.6 | 105.1 |
| Line 13 | Corporate equities | LM543064185 | 566.0 | 666.9 | 674.6 | 664.0 | 666.9 | 630.2 | 671.9 | 696.3 | 674.6 |
| Line 14 | Mutual fund shares | LM543064385 | 1527.7 | 1596.6 | 1660.0 | 1637.6 | 1596.6 | 1519.6 | 1614.0 | 1667.6 | 1660.0 |
| Line 15 | Life insurance reserves | FL543040085 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Line 16 | Pension entitlements | FL543050085 | 1.0 | 0.8 | 0.9 | 0.9 | 0.8 | 0.8 | 0.8 | 0.9 | 0.9 |
| Line 17 | Trade receivables | FL543070085 | 0.0 | 0.0 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 |
| Line 18 | Miscellaneous assets | FL543090085 | 231.7 | 201.4 | 252.0 | 179.1 | 201.4 | 211.0 | 225.3 | 243.4 | 252.0 |
| Line 19 | Total liabilities | FL544190085 | 3031.7 | 3248.9 | 3521.8 | 3298.5 | 3248.9 | 3164.5 | 3351.6 | 3490.9 | 3521.8 |
| Line 20 | Life insurance reserves | LM543140085 | 426.0 | 517.3 | 521.1 | 509.8 | 517.3 | 481.8 | 508.0 | 521.8 | 521.1 |
| Line 21 | Pension entitlements1 | LM543150085 | 2223.9 | 2401.8 | 2590.1 | 2433.8 | 2401.8 | 2330.0 | 2470.1 | 2572.2 | 2590.1 |
| Line 22 | Trade payables | FL543170085 | 0.6 | 0.0 | 0.1 | 0.2 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 |
| Line 23 | Miscellaneous liabilities | FL543190085 | 381.1 | 329.7 | 410.6 | 354.7 | 329.7 | 352.8 | 373.5 | 396.9 | 410.6 |
Note:
- Annuity reserves held by life insurance companies, excluding unallocated contracts held by private pension funds which are included in miscellaneous liabilities (line 23).
Last Update: 2026-03-19