Financial Accounts of the United States - Z.1

F.116 Life insurance companies1

Billions of dollars; quarterly figures are seasonally adjusted annual rates

Line Description Series 2023 2024 2025 2024:Q3 2024:Q4 2025:Q1 2025:Q2 2025:Q3 2025:Q4
Line 1 Gross saving less net capital transfers paid2 FA546000105 31.2 28.9 28.3 30.0 28.7 28.2 27.3 29.0 28.7
Line 2 Fixed nonresidential investment FA545013005 34.9 38.1 41.1 38.6 38.7 39.5 40.6 41.6 42.6
Line 3 Net acquisition of financial assets FA544090005 267.9 339.9 354.2 400.2 285.2 242.1 465.0 471.8 237.8
Line 4 Checkable deposits and currency FA543020005 24.9 7.3 22.4 56.4 -24.8 -14.6 47.4 68.3 -11.4
Line 5 Money market fund shares FA543034005 27.0 0.2 9.8 30.7 -15.8 -8.6 17.5 32.8 -2.6
Line 6 Security repurchase agreements FA542051075 1.0 -0.2 -0.7 0.8 -0.4 1.8 -3.1 -1.5 -0.0
Line 7 Debt securities FA544022005 80.1 229.3 292.6 239.6 112.5 182.5 260.9 340.3 386.6
Line 8 Open market paper FA543069105 5.2 5.7 -12.4 18.0 7.6 -8.9 -27.4 -7.0 -6.3
Line 9 Treasury securities FA543061105 0.1 12.4 14.0 6.5 7.2 0.9 2.8 33.2 19.1
Line 10 Agency- and GSE-backed securities FA543061705 -1.0 -0.8 27.3 -13.9 -21.0 17.9 21.3 34.0 35.9
Line 11 Municipal securities FA543062005 -9.7 -14.1 4.2 -15.8 -12.9 -4.6 2.5 6.1 12.7
Line 12 Corporate and foreign bonds FA543063005 85.6 226.0 259.5 244.8 131.7 177.2 261.7 274.0 325.1
Line 13 Loans FA544023005 43.2 75.8 74.6 90.8 67.1 44.1 100.9 54.0 99.3
Line 14 Other loans and advances FA543069005 -2.0 8.7 9.9 -7.5 11.7 10.3 8.2 6.4 14.7
Line 15 Mortgages FA543065005 45.3 67.1 64.7 98.4 55.4 33.8 92.7 47.7 84.6
Line 16 U.S. direct investment abroad: intercompany debt FA543092375 0.1 -0.0 -0.4 -0.3 0.8 0.3 -1.0 -0.1 -0.7
Line 17 Corporate equities FA543064105 -87.8 -25.2 -107.2 -26.8 -81.9 83.4 -109.7 -170.1 -232.5
Line 18 U.S. direct investment abroad: equity FA543092173 6.9 12.2 2.0 1.4 19.9 4.9 -1.2 0.9 3.2
Line 19 Equity in FHLB FA543092473 0.8 1.8 2.1 1.8 1.8 1.7 2.0 1.7 3.0
Line 20 Mutual fund shares FA543064205 -110.6 -128.6 -132.0 -145.3 -93.7 -166.1 -143.2 -126.0 -92.5
Line 21 Life insurance reserves FA543040005 45.6 -4.1 7.3 -4.1 -4.1 7.2 6.8 7.5 7.8
Line 22 Pension entitlements FA543050005 90.7 129.6 51.9 129.6 129.6 51.2 48.3 53.1 55.0
Line 23 Trade receivables FA543070005 8.2 6.7 11.7 6.7 6.7 2.4 21.7 20.0 2.7
Line 24 Miscellaneous assets FA543090005 137.8 35.1 120.1 19.0 167.5 51.8 217.8 190.7 20.1
Line 25 Balances due from holding company parents FA543094703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 26 Deferred and unpaid life ins. premiums FA543077073 2.4 0.2 1.6 -6.4 0.4 11.7 -1.7 -11.2 7.7
Line 27 Other reserves FA543095105 -0.2 4.6 0.0 4.6 4.6 1.4 2.6 -0.6 -3.4
Line 28 Other FA543093005 135.7 30.4 118.5 20.7 162.5 38.7 216.9 202.5 15.8
Line 29 Net increase in liabilities and equity FA544194005 263.2 297.2 338.9 328.3 230.2 178.3 409.4 469.4 298.7
Line 30 Net increase in liabilities FA544190005 287.2 328.9 371.5 357.6 259.2 220.7 439.0 492.5 333.7
Line 31 Security repurchase agreements FA542151073 -0.3 5.6 -5.6 13.5 5.7 14.3 -24.0 -11.6 -1.0
Line 32 Loans (other loans and advances) FA543169373 2.4 18.6 17.0 10.6 15.6 15.8 39.6 10.1 2.3
Line 33 Foreign direct investment: intercompany debt FA543192375 -1.2 -0.0 -0.5 -0.9 0.9 -0.6 -0.2 -0.3 -0.8
Line 34 Life insurance reserves FA543140005 18.5 65.5 1.6 34.8 70.3 -62.2 31.8 11.6 25.0
Line 35 Pension entitlements3 FA543150005 115.3 133.3 89.7 73.7 148.5 15.7 72.4 94.8 175.9
Line 36 Trade payables FA543170005 93.3 116.2 53.6 116.2 116.2 27.8 83.4 88.0 15.2
Line 37 Taxes payable FA543178075 1.1 -1.8 0.4 2.4 -5.3 -0.8 -1.9 2.4 1.7
Line 38 Miscellaneous liabilities FA543190005 58.2 -8.5 215.3 107.4 -92.6 210.6 237.9 297.6 115.4
Line 39 Other investment by holding company parent FA543194703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 40 Funding agreements backing securities4 FA673090543 12.3 30.9 59.3 43.6 26.9 52.4 84.2 84.7 15.9
Line 41 Other reserves5 FA543195005 12.7 12.4 -0.5 15.4 16.1 0.9 17.3 -2.9 -17.2
Line 42 Unallocated insurance contracts FA593095005 -26.2 2.2 -1.1 1.7 2.6 1.9 -0.8 -4.5 -1.1
Line 43 Other FA543193005 59.4 -54.0 157.6 46.7 -138.2 155.4 137.2 220.1 117.8
Line 44 Net equity issues FA543181105 -24.0 -31.7 -32.5 -29.4 -29.0 -42.3 -29.7 -23.1 -35.0
Line 45 Corporate equity issues FA543164175 -24.0 -34.1 -28.6 -23.5 -48.1 -35.9 -26.8 -20.4 -31.3
Line 46 Foreign direct investment: equity FA543192173 -0.0 2.4 -3.9 -5.9 19.1 -6.4 -2.8 -2.7 -3.8
Line 47 Equity investment by holding company parent FA543194603 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 48 Discrepancy FA547005005 -8.3 -51.9 -28.0 -80.5 -65.0 -75.1 -68.9 -15.1 47.0
 
Memo:
Line 49 Securities lending6 FA543200073 -1.1 4.9 6.4 2.0 18.7 18.2 16.3 -13.0 4.2
Line 50 Direct reserve FA543176015 111.0 237.1 142.1 156.1 252.4 4.6 214.0 169.9 180.0
Line 51 Reinsured to U.S. reinsurers FA543176025 33.0 15.9 31.9 15.9 15.9 27.0 34.5 32.8 33.3
Line 52 Reinsured to non-U.S. reinsurers FA543076035 182.0 133.5 61.5 133.5 133.5 59.7 58.8 62.9 64.7
Line 53 Reinsured from non-U.S. reinsurers FA543176035 -8.1 1.4 0.3 1.4 1.4 0.3 0.2 0.3 0.3

Notes:

  1. 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.
  2. Net capital transfers paid from table F.5, line 54.
  3. Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 41.
  4. Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.
  5. Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
  6. Liability for securities lending collateral, included in line 43.

Last Update: 2026-03-19