Financial Accounts of the United States - Z.1
F.116 Life Insurance Companies (1)
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2021 | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Life insurance companies; gross saving including foreign earnings retained abroad less net capital transfers paid (2) | FA546000105 | 9.0 | 1.7 | 5.5 | 6.2 | 5.5 | 5.5 | 6.3 | 7.6 | 7.1 | 1 |
| Life insurance companies; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA545013005 | 32.0 | 30.7 | 32.0 | 34.2 | 33.3 | 33.9 | 34.7 | 34.8 | 35.7 | 2 |
| Life insurance companies; total financial assets | FA544090005 | 204.4 | 339.1 | 305.9 | 392.2 | 405.0 | 333.1 | 448.9 | 381.8 | 245.4 | 3 |
| Life insurance companies; checkable deposits and currency; asset | FA543020005 | -8.5 | -3.9 | 24.9 | 7.3 | -1.2 | -1.1 | 56.4 | -24.8 | -14.8 | 4 |
| Life insurance companies; money market fund shares; asset | FA543034005 | -2.2 | 10.3 | 27.0 | 0.2 | -11.2 | -2.8 | 30.7 | -15.8 | -8.2 | 5 |
| Life insurance companies, general accounts; security repurchase agreements, including those held by U.S. captive reinsurers; asset | FA542051075 | 1.6 | -5.4 | 1.0 | -0.2 | -0.7 | -0.7 | 0.8 | -0.4 | 1.8 | 6 |
| Life insurance companies; debt securities; asset | FA544022005 | 176.7 | 191.9 | 87.6 | 224.0 | 287.1 | 181.2 | 197.3 | 230.3 | 161.3 | 7 |
| Life insurance companies; commercial paper; asset | FA543069105 | 7.1 | -16.1 | 5.2 | 5.7 | -1.4 | -3.3 | 17.5 | 9.9 | 2.3 | 8 |
| Life insurance companies; Treasury securities; asset | FA543061105 | -2.6 | -5.2 | -1.0 | 13.0 | 17.9 | 11.6 | 5.4 | 17.1 | -1.4 | 9 |
| Life insurance companies; agency- and GSE-backed securities; asset | FA543061705 | -43.1 | -16.3 | -1.9 | -0.6 | 14.5 | 4.2 | -16.0 | -5.1 | 13.8 | 10 |
| Life insurance companies; municipal securities; asset | FA543062005 | 1.1 | 5.0 | -9.8 | -14.2 | -9.6 | -20.6 | -16.4 | -10.0 | -5.3 | 11 |
| Life insurance companies; corporate and foreign bonds; asset | FA543063005 | 214.2 | 224.4 | 95.1 | 220.1 | 265.7 | 189.4 | 206.8 | 218.4 | 151.9 | 12 |
| Life insurance companies; loans; asset | FA544023005 | 51.6 | 71.3 | 44.7 | 81.0 | 66.5 | 72.4 | 111.4 | 73.9 | 39.4 | 13 |
| Life insurance companies; other loans and advances; asset | FA543069005 | 4.1 | 1.5 | -0.6 | 13.9 | 14.7 | 9.4 | 13.1 | 18.5 | 10.4 | 14 |
| Life insurance companies; total mortgages; asset | FA543065005 | 47.5 | 69.9 | 45.3 | 67.1 | 51.8 | 63.0 | 98.4 | 55.4 | 29.0 | 15 |
| Life insurance companies, general accounts; U.S. direct investment abroad: intercompany debt (market value) | FA543092375 | -0.5 | -0.2 | -0.0 | -0.3 | -0.0 | -0.6 | -0.2 | -0.3 | -0.4 | 16 |
| Life insurance companies; corporate equities; asset | FA543064105 | -78.4 | -3.3 | -65.2 | 27.3 | 51.6 | 47.9 | -24.2 | 34.1 | -47.7 | 17 |
| Life insurance companies, general accounts; U.S. direct investment abroad: equity (market value) | FA543092173 | -1.5 | 3.4 | 8.6 | 12.3 | 12.3 | 16.7 | 1.5 | 18.7 | 7.0 | 18 |
| Life insurance companies, general accounts; equity in FHLB; asset | FA543092473 | 1.3 | -1.0 | 0.8 | 1.8 | 2.0 | 1.4 | 1.8 | 1.8 | 1.7 | 19 |
| Life insurance companies; mutual fund shares; asset | FA543064205 | -138.9 | -88.2 | -110.1 | -128.5 | -134.0 | -141.4 | -145.3 | -93.5 | -166.2 | 20 |
| Life insurance companies; life insurance reserve credit from reinsurers; asset | FA543040005 | 22.2 | -5.6 | 45.6 | -4.1 | -4.1 | -4.1 | -4.1 | -4.1 | 12.1 | 21 |
| Life insurance companies; pension entitlements reserve credit from reinsurers; asset | FA543050005 | 88.5 | 104.5 | 90.7 | 129.6 | 129.6 | 129.6 | 129.6 | 129.6 | 117.4 | 22 |
| Life insurance companies; trade receivables from insurers; liability | FA543070005 | 10.1 | -3.9 | 8.2 | 6.7 | 6.7 | 6.7 | 6.7 | 6.7 | -0.3 | 23 |
| Life insurance companies; total miscellaneous assets | FA543090005 | 82.3 | 69.2 | 142.2 | 35.1 | 0.4 | 27.8 | 86.6 | 25.6 | 142.3 | 24 |
| Life insurance companies; balances due from holding company parent; asset | FA543094703 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 25 |
| Life insurance companies, general accounts; deferred and unpaid life insurance premiums; asset | FA543077073 | 1.5 | -1.5 | 2.4 | 0.2 | 6.4 | 0.2 | -6.4 | 0.4 | 11.7 | 26 |
| Life insurance companies; accident and health reserve credit from reinsurers; asset | FA543095105 | 4.1 | -4.9 | -0.2 | 4.6 | 4.6 | 4.6 | 4.6 | 4.6 | 1.4 | 27 |
| Life insurance companies; unidentified miscellaneous assets | FA543093005 | 76.7 | 75.6 | 140.0 | 30.4 | -10.5 | 23.0 | 88.3 | 20.7 | 129.2 | 28 |
| Life insurance companies; total liabilities and equity | FA544194005 | 125.9 | 216.6 | 284.2 | 318.7 | 415.2 | 262.0 | 340.3 | 257.1 | 215.1 | 29 |
| Life insurance companies; total liabilities | FA544190005 | 150.0 | 239.9 | 308.9 | 354.8 | 450.4 | 292.8 | 369.2 | 306.9 | 255.9 | 30 |
| Life insurance companies, general accounts; security repurchase agreements; liability | FA542151073 | 1.5 | 15.8 | -0.3 | 5.6 | 1.7 | 1.6 | 13.5 | 5.7 | 14.3 | 31 |
| Life insurance companies, general accounts; FHLB advances; liability | FA543169373 | 6.9 | 22.1 | 2.4 | 18.6 | 20.7 | 27.5 | 10.6 | 15.6 | 15.8 | 32 |
| Life insurance companies, general accounts; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA543192375 | -1.6 | -5.2 | -0.8 | -0.7 | 0.1 | -0.7 | -1.2 | -0.9 | -1.4 | 33 |
| Life insurance companies; life insurance reserves; liability | FA543140005 | 47.6 | 72.9 | 21.5 | 69.3 | 102.0 | 61.2 | 36.5 | 77.6 | 51.3 | 34 |
| Life insurance companies; pension entitlements, including reserve credit from reinsurers and excluding unallocated insurance contracts; liability (3) | FA543150005 | -36.3 | 109.4 | 92.5 | 129.7 | 152.2 | 145.8 | 54.9 | 166.0 | 49.5 | 35 |
| Life insurance companies; trade payables to insurers; liability | FA543170005 | 66.8 | 16.3 | 93.4 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 100.7 | 36 |
| Life insurance companies, general accounts; total taxes payable; liability | FA543178075 | -0.5 | -1.1 | 1.1 | -1.8 | 2.3 | -6.6 | 2.4 | -5.3 | -0.8 | 37 |
| Life insurance companies; total miscellaneous liabilities | FA543190005 | 65.6 | 9.7 | 99.2 | 17.9 | 55.2 | -52.1 | 136.3 | -68.0 | 26.5 | 38 |
| Life insurance companies; other investment by holding company parent; liability | FA543194703 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 39 |
| Issuers of asset-backed securities; funding agreements backing securities; asset (4) | FA673090543 | 42.7 | 18.5 | 14.3 | 33.7 | 58.5 | -1.4 | 50.0 | 27.7 | 59.1 | 40 |
| Life insurance companies; insurance reserves, excluding life insurance reserves and pension entitlements; liability (5) | FA543195005 | 15.8 | 4.4 | 12.8 | 12.5 | 33.7 | -15.4 | 15.5 | 16.2 | 0.8 | 41 |
| Pension funds; unallocated insurance contracts; asset | FA593095005 | 7.7 | 18.9 | 12.4 | 24.3 | 24.2 | 25.6 | 23.7 | 23.6 | 19.4 | 42 |
| Life insurance companies; unidentified miscellaneous liabilities | FA543193005 | -0.6 | -32.1 | 59.8 | -52.6 | -61.3 | -60.9 | 47.2 | -135.5 | -52.8 | 43 |
| Life insurance companies; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability (IMA) | FA543181105 | -24.0 | -23.3 | -24.7 | -36.2 | -35.2 | -30.8 | -28.8 | -49.8 | -40.8 | 44 |
| Life insurance companies, general accounts; corporate equities; liability | FA543164175 | -25.4 | -30.3 | -24.0 | -34.1 | -44.7 | -20.3 | -23.6 | -47.7 | -34.6 | 45 |
| Life insurance companies, general accounts; foreign direct investment in U.S.: equity; liability (market value) | FA543192173 | 1.4 | 7.0 | -0.7 | -2.0 | 9.5 | -10.5 | -5.2 | -2.0 | -6.2 | 46 |
| Life insurance companies; equity investment by parent holding company; liability | FA543194603 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 47 |
| Life insurance companies; sector discrepancy | FA547005005 | -101.4 | -151.6 | -48.2 | -101.5 | -17.6 | -99.5 | -137.0 | -151.9 | -58.8 | 48 |
| Life insurance companies, general accounts; securities lending; liability (6) | FA543200073 | 6.4 | -12.8 | -1.1 | 4.9 | 8.3 | -9.2 | 2.0 | 18.7 | 18.2 | 49 |
| Life insurance companies; direct reserve credit; liability | FA543176015 | 33.2 | 230.6 | 131.8 | 262.4 | 358.9 | 223.8 | 167.5 | 299.2 | 174.7 | 50 |
| Life insurance companies; reserve credit reinsured to U.S. reinsurers; liability | FA543176025 | 40.2 | 75.0 | 35.3 | 18.2 | 18.2 | 18.2 | 18.2 | 18.2 | 34.0 | 51 |
| Life insurance companies; reserve credit reinsured to non-U.S. reinsurers; asset | FA543076035 | 139.8 | 120.6 | 182.3 | 134.0 | 134.0 | 134.0 | 134.0 | 134.0 | 129.8 | 52 |
| Life insurance companies; reserve credit reinsured from non-U.S. reinsurers; liability | FA543176035 | -3.1 | 8.5 | -8.1 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 0.3 | 53 |
NOTES
- Additional detail on the financial assets and liabilities held in life insurer's general and separate accounts is available on tables F.116.g and F.116.s.
- Net capital transfers paid from table F.5, line 54.
- Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 41.
- Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.
- Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
- Liability for securities lending collateral, included in line 43.
Last Update: June 12, 2025