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 | 2022 | 2023 | 2024 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Life insurance companies; gross saving including foreign earnings retained abroad less net capital transfers paid (2) | FA546000105 | 23.7 | 31.2 | 28.9 | 29.5 | 30.0 | 28.7 | 28.2 | 27.3 | 29.0 | 1 |
| Life insurance companies; gross fixed investment, nonresidential structures, equipment, and intellectual property products | FA545013005 | 30.2 | 34.9 | 38.1 | 37.8 | 38.6 | 38.7 | 39.5 | 40.6 | 41.6 | 2 |
| Life insurance companies; total financial assets | FA544090005 | 312.9 | 267.7 | 340.0 | 343.8 | 400.2 | 285.4 | 242.5 | 453.3 | 459.9 | 3 |
| Life insurance companies; checkable deposits and currency; asset | FA543020005 | -3.9 | 24.9 | 7.3 | -1.1 | 56.4 | -24.8 | -12.2 | 53.8 | 77.3 | 4 |
| Life insurance companies; money market fund shares; asset | FA543034005 | 10.3 | 27.0 | 0.2 | -2.8 | 30.7 | -15.8 | -8.6 | 17.5 | 32.8 | 5 |
| Life insurance companies, general accounts; security repurchase agreements, including those held by U.S. captive reinsurers; asset | FA542051075 | -5.4 | 1.0 | -0.2 | -0.7 | 0.8 | -0.4 | 1.8 | -3.1 | -1.5 | 6 |
| Life insurance companies; debt securities; asset | FA544022005 | 178.0 | 80.1 | 229.3 | 232.9 | 239.6 | 112.5 | 194.3 | 269.6 | 351.9 | 7 |
| Life insurance companies; commercial paper; asset | FA543069105 | -16.1 | 5.2 | 5.7 | -2.3 | 18.0 | 7.6 | 2.9 | -18.6 | 4.6 | 8 |
| Life insurance companies; Treasury securities; asset | FA543061105 | -5.4 | 0.1 | 12.4 | 15.4 | 6.5 | 7.2 | 0.9 | 2.8 | 33.2 | 9 |
| Life insurance companies; agency- and GSE-backed securities; asset | FA543061705 | -16.6 | -1.0 | -0.8 | 11.4 | -13.9 | -21.0 | 17.9 | 21.3 | 34.0 | 10 |
| Life insurance companies; municipal securities; asset | FA543062005 | 4.0 | -9.7 | -14.1 | -19.1 | -15.8 | -12.9 | -4.6 | 2.5 | 6.1 | 11 |
| Life insurance companies; corporate and foreign bonds; asset | FA543063005 | 212.0 | 85.6 | 226.0 | 227.5 | 244.8 | 131.7 | 177.2 | 261.7 | 274.0 | 12 |
| Life insurance companies; loans; asset | FA544023005 | 71.0 | 43.2 | 75.8 | 79.9 | 90.8 | 67.1 | 44.1 | 100.9 | 54.0 | 13 |
| Life insurance companies; other loans and advances; asset | FA543069005 | 1.1 | -2.0 | 8.7 | 17.0 | -7.5 | 11.7 | 10.3 | 8.2 | 6.4 | 14 |
| Life insurance companies; total mortgages; asset | FA543065005 | 69.9 | 45.3 | 67.1 | 63.0 | 98.4 | 55.4 | 33.8 | 92.7 | 47.7 | 15 |
| Life insurance companies, general accounts; U.S. direct investment abroad: intercompany debt (market value) | FA543092375 | 0.0 | 0.1 | -0.0 | -0.6 | -0.3 | 0.8 | 0.3 | -0.8 | 0.4 | 16 |
| Life insurance companies; corporate equities; asset | FA543064105 | -16.5 | -88.0 | -25.0 | 43.7 | -26.7 | -81.7 | 82.6 | -121.4 | -176.7 | 17 |
| Life insurance companies, general accounts; U.S. direct investment abroad: equity (market value) | FA543092173 | 4.4 | 6.9 | 12.2 | 16.9 | 1.4 | 19.9 | 4.9 | 6.4 | 7.8 | 18 |
| Life insurance companies, general accounts; equity in FHLB; asset | FA543092473 | -1.0 | 0.8 | 1.8 | 1.4 | 1.8 | 1.8 | 1.7 | 2.0 | 1.7 | 19 |
| Life insurance companies; mutual fund shares; asset | FA543064205 | -86.7 | -110.6 | -128.6 | -141.5 | -145.3 | -93.7 | -166.1 | -143.2 | -125.7 | 20 |
| Life insurance companies; life insurance reserve credit from reinsurers; asset | FA543040005 | -5.6 | 45.6 | -4.1 | -4.1 | -4.1 | -4.1 | 12.1 | 15.1 | 12.9 | 21 |
| Life insurance companies; pension entitlements reserve credit from reinsurers; asset | FA543050005 | 104.5 | 90.7 | 129.6 | 129.6 | 129.6 | 129.6 | 47.4 | 53.3 | 53.3 | 22 |
| Life insurance companies; trade receivables from insurers; liability | FA543070005 | -3.9 | 8.2 | 6.7 | 6.7 | 6.7 | 6.7 | 2.0 | 17.8 | 17.2 | 23 |
| Life insurance companies; total miscellaneous assets | FA543090005 | 67.7 | 137.9 | 35.1 | -16.5 | 19.0 | 167.4 | 38.0 | 185.3 | 154.2 | 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 | 2.4 | 0.2 | 0.2 | -6.4 | 0.4 | 11.7 | -1.7 | -11.2 | 26 |
| Life insurance companies; accident and health reserve credit from reinsurers; asset | FA543095105 | -4.9 | -0.2 | 4.6 | 4.6 | 4.6 | 4.6 | 1.4 | 2.6 | -0.6 | 27 |
| Life insurance companies; unidentified miscellaneous assets | FA543093005 | 74.0 | 135.7 | 30.4 | -21.3 | 20.7 | 162.4 | 24.9 | 184.4 | 166.0 | 28 |
| Life insurance companies; total liabilities and equity | FA544194005 | 213.4 | 263.1 | 297.3 | 245.0 | 328.3 | 230.4 | 182.3 | 421.4 | 477.2 | 29 |
| Life insurance companies; total liabilities | FA544190005 | 236.9 | 287.1 | 329.0 | 276.7 | 357.7 | 259.4 | 224.5 | 449.1 | 495.5 | 30 |
| Life insurance companies, general accounts; security repurchase agreements; liability | FA542151073 | 15.8 | -0.3 | 5.6 | 1.6 | 13.5 | 5.7 | 14.3 | -24.0 | -11.6 | 31 |
| Life insurance companies, general accounts; FHLB advances; liability | FA543169373 | 22.1 | 2.4 | 18.6 | 27.5 | 10.6 | 15.6 | 15.8 | 39.6 | 10.1 | 32 |
| Life insurance companies, general accounts; foreign direct investment in U.S.: intercompany debt; liability (market value) | FA543192375 | -5.0 | -1.2 | -0.0 | -0.5 | -0.9 | 0.9 | -0.7 | 0.0 | -0.9 | 33 |
| Life insurance companies; life insurance reserves; liability | FA543140005 | 72.5 | 18.4 | 65.5 | 58.9 | 34.8 | 70.3 | 57.5 | 92.4 | 74.5 | 34 |
| Life insurance companies; pension entitlements, including reserve credit from reinsurers and excluding unallocated insurance contracts; liability (3) | FA543150005 | 105.5 | 115.2 | 133.5 | 155.4 | 74.1 | 148.9 | 36.3 | 92.2 | 100.4 | 35 |
| Life insurance companies; trade payables to insurers; liability | FA543170005 | 16.3 | 93.3 | 116.2 | 116.2 | 116.2 | 116.2 | 22.3 | 61.4 | 73.5 | 36 |
| Life insurance companies, general accounts; total taxes payable; liability | FA543178075 | -1.1 | 1.1 | -1.8 | -6.6 | 2.4 | -5.3 | -0.8 | -1.9 | 2.4 | 37 |
| Life insurance companies; total miscellaneous liabilities | FA543190005 | 10.9 | 58.2 | -8.6 | -75.7 | 106.9 | -92.8 | 79.8 | 189.4 | 247.0 | 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 | 20.1 | 12.3 | 30.9 | -1.4 | 43.6 | 26.9 | 52.4 | 84.2 | 84.7 | 40 |
| Life insurance companies; insurance reserves, excluding life insurance reserves and pension entitlements; liability (5) | FA543195005 | 4.4 | 12.7 | 12.4 | -15.5 | 15.4 | 16.1 | 0.9 | 17.2 | -2.9 | 41 |
| Pension funds; unallocated insurance contracts; asset | FA593095005 | 18.7 | -26.2 | 2.0 | 2.9 | 1.3 | 2.4 | 1.6 | -1.9 | -1.0 | 42 |
| Life insurance companies; unidentified miscellaneous liabilities | FA543193005 | -32.2 | 59.4 | -54.0 | -61.8 | 46.6 | -138.2 | 24.9 | 89.9 | 166.2 | 43 |
| Life insurance companies; equity and investment fund shares excluding mutual fund shares and money market fund shares; liability (IMA) | FA543181105 | -23.5 | -24.0 | -31.7 | -31.8 | -29.4 | -29.0 | -42.2 | -27.8 | -18.3 | 44 |
| Life insurance companies, general accounts; corporate equities; liability | FA543164175 | -30.3 | -24.0 | -34.1 | -20.2 | -23.5 | -48.1 | -35.9 | -26.8 | -20.4 | 45 |
| Life insurance companies, general accounts; foreign direct investment in U.S.: equity; liability (market value) | FA543192173 | 6.8 | -0.0 | 2.4 | -11.5 | -5.9 | 19.1 | -6.3 | -0.9 | 2.1 | 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 | -106.0 | -8.3 | -51.9 | -107.1 | -80.5 | -65.0 | -71.5 | -45.2 | 4.6 | 48 |
| Life insurance companies, general accounts; securities lending; liability (6) | FA543200073 | -12.8 | -1.1 | 4.9 | -9.2 | 2.0 | 18.7 | 18.2 | 16.3 | -13.0 | 49 |
| Life insurance companies; direct reserve credit; liability | FA543176015 | 227.6 | 110.9 | 237.2 | 208.5 | 156.1 | 252.6 | 143.2 | 286.6 | 238.7 | 50 |
| Life insurance companies; reserve credit reinsured to U.S. reinsurers; liability | FA543176025 | 75.3 | 32.9 | 15.9 | 15.9 | 15.9 | 15.9 | 36.6 | 49.5 | 42.3 | 51 |
| Life insurance companies; reserve credit reinsured to non-U.S. reinsurers; asset | FA543076035 | 120.6 | 182.0 | 133.5 | 133.6 | 133.5 | 133.5 | 60.7 | 71.6 | 68.2 | 52 |
| Life insurance companies; reserve credit reinsured from non-U.S. reinsurers; liability | FA543176035 | 8.5 | -8.1 | 1.4 | 1.4 | 1.4 | 1.4 | 0.3 | 0.3 | 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: January 9, 2026