Financial Accounts of the United States - Z.1

L.116 Life insurance companies1

Billions of dollars; amounts outstanding end of period, not seasonally adjusted

Line Description Series 2023 2024 2025 2024:Q3 2024:Q4 2025:Q1 2025:Q2 2025:Q3 2025:Q4
Line 1 Total financial assets FL544090005 9713.5 10325.6 11171.8 10411.0 10325.6 10365.9 10718.9 11063.6 11171.8
Line 2 Checkable deposits and currency FL543020005 143.3 150.6 173.0 156.8 150.6 146.9 158.8 175.9 173.0
Line 3 Money market fund shares FL543034005 102.6 102.8 112.6 106.7 102.8 100.6 105.0 113.2 112.6
Line 4 Security repurchase agreements FL542051075 5.6 5.4 4.7 5.5 5.4 5.9 5.1 4.7 4.7
Line 5 Debt securities LM544022005 4015.8 4189.0 4623.8 4323.9 4189.0 4291.5 4389.8 4539.6 4623.8
Line 6 Open market paper FL543069105 30.9 36.6 24.2 36.0 36.6 35.7 30.7 27.1 24.2
Line 7 Treasury securities LM543061105 182.0 187.3 207.3 193.3 187.3 191.6 192.6 202.5 207.3
Line 8 Agency- and GSE-backed securities LM543061705 264.8 259.2 293.0 271.2 259.2 267.1 273.5 283.5 293.0
Line 9 Municipal securities LM543062005 193.4 170.9 176.5 178.8 170.9 167.6 166.8 172.1 176.5
Line 10 Corporate and foreign bonds LM543063005 3344.6 3535.0 3922.8 3644.7 3535.0 3629.5 3726.2 3854.5 3922.8
Line 11 Loans FL544023005 995.8 1071.6 1146.2 1053.9 1071.6 1082.5 1105.4 1120.5 1146.2
Line 12 Other loans and advances FL543069005 171.2 179.9 189.7 176.9 179.9 182.4 184.5 186.1 189.7
Line 13 Mortgages FL543065005 824.6 891.8 956.5 877.0 891.8 900.1 920.9 934.5 956.5
Line 14 U.S. direct investment abroad: intercompany debt LM543092375 -0.3 -0.3 -0.7 -0.5 -0.3 -0.2 -0.4 -0.5 -0.7
Line 15 Corporate equities LM543064105 695.9 800.5 829.7 806.1 800.5 783.7 831.2 859.8 829.7
Line 16 U.S. direct investment abroad: equity LM543092173 38.2 38.9 57.2 39.3 38.9 43.0 48.2 52.2 57.2
Line 17 Equity in FHLB FL543092473 8.8 10.6 12.7 10.1 10.6 11.0 11.5 11.9 12.7
Line 18 Mutual fund shares LM543064205 1535.0 1603.9 1671.7 1645.7 1603.9 1528.1 1622.8 1678.9 1671.7
Line 19 Life insurance reserves FL543040005 324.9 320.8 328.1 321.8 320.8 322.6 324.3 326.2 328.1
Line 20 Pension entitlements FL543050005 575.0 704.7 756.7 672.3 704.7 717.5 729.6 743.0 756.7
Line 21 Trade receivables FL543070005 144.7 151.5 163.2 149.8 151.5 152.1 157.5 162.5 163.2
Line 22 Miscellaneous assets FL543090005 1128.1 1175.6 1292.9 1119.5 1175.6 1180.6 1230.2 1275.6 1292.9
Line 23 Balances due from holding company parent FL543094703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 24 Deferred and unpaid life ins. premiums FL543077073 39.4 39.5 41.1 39.4 39.5 42.4 42.0 39.2 41.1
Line 25 Other reserves FL543095105 85.5 90.0 90.0 88.9 90.0 90.4 91.0 90.9 90.0
Line 26 Other FL543093005 1003.2 1046.0 1161.7 991.2 1046.0 1047.8 1097.1 1145.5 1161.7
Line 27 Total liabilities and equity FL544194005 9760.0 10444.1 11157.8 10402.9 10444.1 10438.7 10748.3 11041.7 11157.8
Line 28 Total liabilities FL544190005 9395.2 10021.8 10721.4 9985.9 10021.8 10024.6 10326.4 10600.8 10721.4
Line 29 Security repurchase agreements FL542151073 36.1 41.7 36.1 40.3 41.7 45.2 39.3 36.4 36.1
Line 30 Loans (other loans and advances) FL543169373 138.1 156.7 173.7 152.8 156.7 160.7 170.6 173.1 173.7
Line 31 Foreign direct investment: intercompany debt LM543192375 3.7 3.9 3.2 3.6 3.9 3.8 3.6 3.4 3.2
Line 32 Life insurance reserves FL543140005 2468.2 2576.6 2627.6 2563.5 2576.6 2552.7 2589.9 2615.7 2627.6
Line 33 Pension entitlements2 FL543150005 4185.5 4537.4 4868.7 4521.6 4537.4 4502.5 4662.1 4797.3 4868.7
Line 34 Trade payables FL543170005 464.6 580.9 634.5 551.8 580.9 587.8 608.7 630.7 634.5
Line 35 Taxes payable FL543178075 7.2 5.4 5.7 6.7 5.4 5.2 4.7 5.3 5.7
Line 36 Miscellaneous liabilities FL543190005 2091.8 2119.3 2371.9 2145.5 2119.3 2166.6 2247.5 2338.8 2371.9
Line 37 Other investment by holding company parent FL543194703 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 38 Funding agreements backing securities3 FL673090543 190.3 221.2 280.5 214.4 221.2 234.2 255.3 276.5 280.5
Line 39 Other reserves4 FL543195005 488.4 501.8 502.4 497.9 501.8 501.9 506.8 506.6 502.4
Line 40 Unallocated insurance contracts FL593095005 887.2 915.6 942.9 917.4 915.6 911.5 928.1 940.0 942.9
Line 41 Other FL543193005 525.9 480.7 646.1 515.8 480.7 519.0 557.3 615.7 646.1
Line 42 Total equity FL543181105 364.8 422.4 436.4 417.0 422.4 414.2 421.9 440.9 436.4
Line 43 Corporate equities (market value) LM543164175 255.0 288.7 292.5 295.5 288.7 290.5 287.8 299.2 292.5
Line 44 Foreign direct investment: equity LM543192173 109.8 133.6 143.9 121.5 133.6 123.6 134.1 141.8 143.9
Line 45 Equity investment by holding company parent FL543194603 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
 
Memo:
Line 46 Securities lending5 FL543200073 40.6 45.5 51.9 40.8 45.5 50.1 54.1 50.9 51.9
Line 47 Direct reserve FL543176015 7767.0 8292.7 8755.3 8258.0 8292.7 8241.9 8483.5 8674.0 8755.3
Line 48 Reinsured to U.S. reinsurers FL543176025 1020.0 1051.5 1098.1 1049.0 1051.5 1055.9 1073.3 1088.4 1098.1
Line 49 Reinsured to non-U.S. reinsurers FL543076035 993.9 1129.8 1196.2 1096.8 1129.8 1143.9 1161.5 1179.6 1196.2
Line 50 Reinsured from non-U.S. reinsurers FL543176035 2.7 4.1 4.4 3.8 4.1 4.2 4.2 4.3 4.4

Notes:

  1. Additional detail on the financial assets and liabilities held in life insurer's general and separate accounts is available on tables L.116.g and L.116.s.
  2. Annuity reserves held by life insurance companies, excluding unallocated contracts held by pension funds, which are shown on line 39.
  3. Equal to funding agreement-backed securities (FABS) issued by domestic issuers of asset-backed securities.
  4. Includes reserves for accident and health policies, policy dividend accumulation, and contract claims.
  5. Liability for securities lending collateral, included in line 41.

Last Update: 2026-03-19