Life/annuity industry investments

Investments, Life/Annuity Insurers, 2021-2023 (1)

($ billions, end of year)

	Amount			Percent of total investments
Investment type	2021	2022	2023	2021	2022	2023
Bonds	$3,532.5	$3,618.0	$3,644.5	70.01%	69.61%	68.14%
Stocks	$141.6	$126.0	$131.6	2.81%	2.42%	2.46%
Preferred stock	20.5	17.1	17.6	0.41	0.33	0.33
Common stock	121.0	108.8	113.9	2.40	2.09	2.13
Mortgage loans on real estate	$639.9	$694.4	$732.9	12.68%	13.36%	13.70%
First lien real estate mortgage loans	631.9	685.1	723.5	12.52	13.18	13.53
Real estate loans less first liens	8.0	9.3	9.4	0.16	0.18	0.18
Real estate	$22.8	$22.6	$22.7	0.45%	0.43%	0.42%
Occupied properties	6.0	5.7	5.4	0.12	0.11	0.10
Income generating properties	16.4	16.6	16.8	0.33	0.32	0.31
Properties for sale	0.4	0.3	0.5	0.01	0.01	0.01
Cash, cash equivalent and short term investments	147.8	143.2	189.0	2.93	2.75	3.53
Contract loans including premium notes	131.5	131.4	138.5	2.61	2.53	2.59
Derivatives	96.8	95.4	102.0	1.92	1.83	1.91
Other invested assets	292.3	320.5	340.9	5.79	6.17	6.37
Receivables for securities	9.3	9.9	8.7	0.18	0.19	0.16
Securities lending reinvested collateral assets	19.5	14.3	15.4	0.39	0.28	0.29
Write-ins for invested assets	11.9	21.8	22.1	0.24	0.42	0.41
Total cash and invested assets	$5,045.8	$5,197.4	$5,348.2	100.0%	100.0%	100.0%

(1) Data are net admitted assets of life/annuity insurers.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.