Financial Accounts of the United States - Z.1
F.116.s Life Insurance Companies Separate Accounts
Billions of dollars; quarterly figures are seasonally adjusted annual rates| Description | Series code | 2022 | 2023 | 2024 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Life insurance companies, separate accounts; total financial assets | FA544090085 | -51.1 | -45.7 | -85.9 | -79.2 | -67.1 | -101.8 | -95.4 | -115.7 | -36.2 | 1 |
| Life insurance companies, separate accounts; checkable deposits and currency; asset | FA543020083 | 7.0 | 0.9 | 5.5 | 5.5 | 4.2 | 12.2 | 0.1 | 3.0 | 9.8 | 2 |
| Life insurance companies, separate accounts; variable annuity money market fund shares; asset | FA543034385 | 7.9 | 1.4 | 0.9 | -5.0 | 2.5 | 4.0 | 2.2 | 11.0 | -0.6 | 3 |
| Life insurance companies, separate accounts; debt securities; asset | FA544022085 | 48.9 | 37.9 | 58.8 | 73.1 | 53.4 | 38.3 | 70.2 | 4.8 | 107.5 | 4 |
| Life insurance companies, separate accounts; commercial paper; asset | FA543069183 | -9.4 | 0.7 | 1.0 | 1.0 | 0.7 | 2.5 | -0.2 | 0.7 | 2.2 | 5 |
| Life insurance companies, separate accounts; other Treasury securities; asset | FA543061183 | -3.0 | -6.4 | 3.4 | 5.2 | 2.2 | 1.6 | 4.6 | -1.5 | 8.6 | 6 |
| Life insurance companies, separate accounts; agency- and GSE-backed securities; asset | FA543061783 | 3.8 | -3.4 | -1.4 | 1.1 | -3.6 | 0.9 | -4.1 | 0.8 | 14.4 | 7 |
| Life insurance companies, separate accounts; municipal securities; asset | FA543062083 | 2.3 | 0.4 | -1.8 | -1.3 | -2.1 | -1.2 | -2.7 | 1.5 | 3.1 | 8 |
| Life insurance companies, separate accounts; corporate and foreign bonds; asset | FA543063085 | 55.2 | 46.7 | 57.6 | 67.0 | 56.2 | 34.5 | 72.7 | 3.4 | 79.1 | 9 |
| Life insurance companies, separate accounts; loans; asset | FA544023085 | 11.2 | 11.2 | 13.0 | 12.9 | 10.7 | 25.1 | 3.4 | 5.5 | 18.0 | 10 |
| Life insurance companies, separate accounts; policy loans; asset | FA543069483 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 11 |
| Life insurance companies, separate accounts; total mortgages; asset | FA543065083 | 11.2 | 11.2 | 13.0 | 12.9 | 10.7 | 25.1 | 3.4 | 5.5 | 18.0 | 12 |
| Life insurance companies, separate accounts; corporate equities | FA543064185 | -8.1 | -73.5 | -5.6 | 20.3 | 31.7 | -45.4 | -29.1 | -10.0 | -80.8 | 13 |
| Life insurance companies, separate accounts; variable annuity mutual fund shares; asset | FA543064385 | -88.1 | -107.5 | -127.9 | -134.4 | -140.7 | -145.0 | -91.2 | -171.1 | -142.0 | 14 |
| Life insurance companies, separate accounts; life insurance reserve credit from reinsurers; asset | FA543040085 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 15 |
| Life insurance companies, separate accounts; pension entitlements reserve credit from reinsurers; asset | FA543050085 | 0.0 | -0.3 | -0.3 | -0.3 | -0.3 | -0.3 | -0.3 | -0.0 | -0.0 | 16 |
| Life insurance companies, separate accounts; trade receivables from insurers; liability | FA543070085 | -0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -0.0 | 17 |
| Life insurance companies, separate accounts; total miscellaneous assets | FA543090085 | -29.9 | 84.1 | -30.2 | -51.1 | -28.6 | 9.4 | -50.7 | 41.1 | 52.0 | 18 |
| Life insurance companies, separate accounts; total liabilities | FA544190085 | -50.9 | -52.8 | -80.9 | -85.0 | -64.7 | -86.5 | -87.4 | -121.3 | -28.7 | 19 |
| Life insurance companies, separate accounts; life insurance reserves, including reserve credit from reinsurers; liability | FA543140085 | 36.1 | -25.6 | 48.2 | 47.1 | 49.9 | 48.7 | 47.2 | -19.3 | -4.5 | 20 |
| Life insurance companies, separate accounts; pension entitlements, including reserve credit from reinsurers and excluding unallocated insurance contracts; liability (1) | FA543150085 | -16.5 | -69.4 | -42.1 | -44.6 | -30.3 | -46.2 | -47.3 | -89.7 | -13.8 | 21 |
| Life insurance companies, separate accounts; trade payables to insurers; liability | FA543170085 | 0.0 | -0.1 | -0.6 | -0.6 | -0.6 | -0.6 | -0.6 | 0.0 | -0.0 | 22 |
| Life insurance companies, separate accounts; total miscellaneous liabilities | FA543190085 | -70.6 | 42.4 | -86.4 | -86.9 | -83.7 | -88.4 | -86.7 | -12.2 | -10.4 | 23 |
NOTES
- Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds which are included in miscellaneous liabilities (line 23).
Last Update: September 11, 2025