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 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 | 2025 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Life insurance companies, separate accounts; total financial assets | FA544090085 | -50.9 | -58.4 | -85.2 | -68.0 | -105.2 | -87.4 | -123.3 | -37.1 | -59.7 | 1 |
| Life insurance companies, separate accounts; checkable deposits and currency; asset | FA543020083 | 7.0 | 0.9 | 5.5 | 4.2 | 12.2 | 0.1 | 5.6 | 10.0 | 12.3 | 2 |
| Life insurance companies, separate accounts; variable annuity money market fund shares; asset | FA543034385 | 7.9 | 1.4 | 0.9 | 2.5 | 4.0 | 2.2 | 11.0 | -0.4 | -2.9 | 3 |
| Life insurance companies, separate accounts; debt securities; asset | FA544022085 | 48.3 | 31.5 | 58.8 | 112.6 | 60.0 | -54.4 | 37.8 | 108.9 | 118.9 | 4 |
| Life insurance companies, separate accounts; commercial paper; asset | FA543069183 | -9.4 | 0.7 | 1.0 | 1.8 | 3.0 | -2.5 | 1.3 | 2.2 | 2.7 | 5 |
| Life insurance companies, separate accounts; other Treasury securities; asset | FA543061183 | -2.9 | -5.2 | 2.8 | 5.9 | 2.5 | -5.0 | 0.8 | 8.7 | 9.4 | 6 |
| Life insurance companies, separate accounts; agency- and GSE-backed securities; asset | FA543061783 | 3.4 | -2.4 | -1.5 | 4.0 | 3.5 | -20.5 | 4.9 | 14.6 | 17.7 | 7 |
| Life insurance companies, separate accounts; municipal securities; asset | FA543062083 | 1.9 | 0.6 | -1.7 | -0.6 | -0.7 | -5.5 | 2.2 | 3.2 | 2.1 | 8 |
| Life insurance companies, separate accounts; corporate and foreign bonds; asset | FA543063085 | 55.3 | 37.9 | 58.2 | 101.5 | 51.7 | -20.9 | 28.5 | 80.2 | 86.9 | 9 |
| Life insurance companies, separate accounts; loans; asset | FA544023085 | 11.2 | 11.2 | 13.0 | 10.7 | 25.1 | 3.4 | 10.3 | 18.2 | 22.4 | 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 | 10.7 | 25.1 | 3.4 | 10.3 | 18.2 | 22.4 | 12 |
| Life insurance companies, separate accounts; corporate equities | FA543064185 | -6.6 | -73.5 | -5.0 | 16.9 | -2.4 | -42.2 | -17.0 | -81.7 | -140.0 | 13 |
| Life insurance companies, separate accounts; variable annuity mutual fund shares; asset | FA543064385 | -88.1 | -107.5 | -127.9 | -140.7 | -145.0 | -91.2 | -171.1 | -142.0 | -133.8 | 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 | -0.0 | -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 | -30.6 | 77.8 | -30.2 | -73.9 | -58.6 | 95.2 | 0.1 | 49.9 | 63.5 | 18 |
| Life insurance companies, separate accounts; total liabilities | FA544190085 | -50.7 | -65.5 | -80.2 | -64.2 | -89.4 | -82.4 | -128.2 | -29.6 | -53.7 | 19 |
| Life insurance companies, separate accounts; life insurance reserves, including reserve credit from reinsurers; liability | FA543140085 | 36.1 | -27.4 | 48.3 | 50.0 | 48.3 | 48.0 | -20.4 | -4.7 | -8.5 | 20 |
| Life insurance companies, separate accounts; pension entitlements, including reserve credit from reinsurers and excluding unallocated insurance contracts; liability (1) | FA543150085 | -16.3 | -78.5 | -40.5 | -28.9 | -47.2 | -42.5 | -95.0 | -8.2 | -30.9 | 21 |
| Life insurance companies, separate accounts; trade payables to insurers; liability | FA543170085 | 0.0 | -0.1 | -0.6 | -0.6 | -0.6 | -0.6 | 0.0 | -0.0 | -0.0 | 22 |
| Life insurance companies, separate accounts; total miscellaneous liabilities | FA543190085 | -70.6 | 40.5 | -87.4 | -84.6 | -89.9 | -87.3 | -12.8 | -16.7 | -14.2 | 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: January 9, 2026