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| 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 | FL544090085 | 2733.1 | 3027.7 | 3240.0 | 3168.1 | 3290.8 | 3240.0 | 3156.8 | 3342.0 | 3479.8 | 1 |
| Life insurance companies, separate accounts; checkable deposits and currency; asset | FL543020083 | 41.3 | 42.1 | 47.6 | 44.6 | 47.6 | 47.6 | 49.0 | 51.5 | 54.6 | 2 |
| Life insurance companies, separate accounts; variable annuity money market fund shares; asset | FL543034385 | 34.7 | 36.1 | 37.0 | 35.5 | 36.5 | 37.0 | 39.8 | 39.7 | 38.9 | 3 |
| Life insurance companies, separate accounts; debt securities; asset | LM544022085 | 495.8 | 549.1 | 602.7 | 597.8 | 639.0 | 602.7 | 620.6 | 652.1 | 691.0 | 4 |
| Life insurance companies, separate accounts; commercial paper; asset | FL543069183 | 9.0 | 9.6 | 10.7 | 10.5 | 11.3 | 10.7 | 11.0 | 11.5 | 12.2 | 5 |
| Life insurance companies, separate accounts; other Treasury securities; asset | LM543061183 | 45.3 | 41.0 | 43.2 | 43.7 | 46.3 | 43.2 | 44.5 | 46.8 | 49.6 | 6 |
| Life insurance companies, separate accounts; agency- and GSE-backed securities; asset | LM543061783 | 77.2 | 76.5 | 75.6 | 79.0 | 82.3 | 75.6 | 77.8 | 81.8 | 86.7 | 7 |
| Life insurance companies, separate accounts; municipal securities; asset | LM543062083 | 14.0 | 15.1 | 13.2 | 14.7 | 14.8 | 13.2 | 13.6 | 14.3 | 15.1 | 8 |
| Life insurance companies, separate accounts; corporate and foreign bonds; asset | LM543063085 | 350.4 | 407.0 | 460.1 | 449.8 | 484.3 | 460.1 | 473.7 | 497.8 | 527.4 | 9 |
| Life insurance companies, separate accounts; loans; asset | FL544023085 | 62.6 | 73.9 | 86.9 | 79.8 | 86.0 | 86.9 | 89.5 | 94.0 | 99.6 | 10 |
| Life insurance companies, separate accounts; policy loans; asset | FL543069483 | 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 | FL543065083 | 62.6 | 73.9 | 86.9 | 79.8 | 86.0 | 86.9 | 89.5 | 94.0 | 99.6 | 12 |
| Life insurance companies, separate accounts; corporate equities | LM543064185 | 537.9 | 566.0 | 666.9 | 625.2 | 664.0 | 666.9 | 630.2 | 671.9 | 696.3 | 13 |
| Life insurance companies, separate accounts; variable annuity mutual fund shares; asset | LM543064385 | 1405.7 | 1527.7 | 1596.6 | 1588.1 | 1637.6 | 1596.6 | 1519.6 | 1614.0 | 1667.6 | 14 |
| Life insurance companies, separate accounts; life insurance reserve credit from reinsurers; asset | FL543040085 | 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 | FL543050085 | 1.2 | 1.0 | 0.8 | 0.9 | 0.9 | 0.8 | 0.8 | 0.8 | 0.9 | 16 |
| Life insurance companies, separate accounts; trade receivables from insurers; liability | FL543070085 | 0.0 | 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 | FL543090085 | 153.9 | 231.7 | 201.4 | 196.2 | 179.1 | 201.4 | 207.4 | 218.0 | 230.9 | 18 |
| Life insurance companies, separate accounts; total liabilities | FL544190085 | 2744.2 | 3031.7 | 3248.9 | 3171.9 | 3298.5 | 3248.9 | 3164.5 | 3351.6 | 3490.9 | 19 |
| Life insurance companies, separate accounts; life insurance reserves, including reserve credit from reinsurers; liability | LM543140085 | 402.6 | 426.0 | 517.3 | 475.4 | 509.8 | 517.3 | 503.9 | 533.6 | 555.8 | 20 |
| Life insurance companies, separate accounts; pension entitlements, including reserve credit from reinsurers and excluding unallocated insurance contracts; liability (1) | LM543150085 | 2041.4 | 2223.9 | 2401.8 | 2335.9 | 2433.8 | 2401.8 | 2339.4 | 2481.1 | 2586.3 | 21 |
| Life insurance companies, separate accounts; trade payables to insurers; liability | FL543170085 | 0.6 | 0.6 | 0.0 | 0.3 | 0.2 | 0.0 | 0.0 | 0.0 | 0.0 | 22 |
| Life insurance companies, separate accounts; total miscellaneous liabilities | FL543190085 | 299.5 | 381.1 | 329.7 | 360.2 | 354.7 | 329.7 | 321.2 | 336.8 | 348.7 | 23 |
NOTES
- 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: January 9, 2026