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INSURERS AS INVESTORS |
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OWNERSHIP OF CORPORATE EQUITIES
Equity investments provide an ownership interest in a company through stocks. The insurance industry held $1.4 trillion in corporate equities in 2005.
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HOLDINGS OF U.S. CORPORATE EQUITIES, 2003-2007 (1)
($ billions, market value, end of year)
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2003 |
2004 |
2005 |
2006 |
2007 |
Percent change
2003-2007 |
| Total | $15,618.5 | $17,389.3 | $18,512.0 | $20,909.3 | $21,477.2 | 37.5% |
| Household sector | 5,767.5 | 5,938.1 | 5,874.9 | 6,178.9 | 5,454.1 | -5.4 |
| State and local governments | 84.7 | 90.0 | 95.5 | 102.4 | 107.4 | 26.8 |
| Rest of the world (2) | 1,674.6 | 1,904.6 | 2,039.1 | 2,454.7 | 2,797.1 | 67.0 |
| Commercial banking | 15.0 | 20.3 | 24.1 | 35.3 | 41.5 | 176.7 |
| Savings institutions | 30.4 | 28.2 | 26.2 | 24.9 | 25.3 | -16.8 |
| Property/casualty insurance companies | 178.4 | 196.6 | 199.5 | 227.0 | 235.3 | 31.9 |
| Life insurance companies | 919.3 | 1,053.9 | 1,161.8 | 1,364.8 | 1,491.5 | 62.2 |
| Private pension funds | 2,096.6 | 2,333.5 | 2,537.0 | 2,755.3 | 2,766.3 | 31.9 |
| State and local govt retirement funds | 1,421.0 | 1,600.9 | 1,715.8 | 1,927.5 | 1,987.1 | 39.8 |
| Federal govt retirement funds | 79.9 | 99.2 | 112.6 | 138.1 | 149.2 | 86.7 |
| Mutual funds | 3,051.3 | 3,693.6 | 4,175.7 | 4,989.6 | 5,476.9 | 79.5 |
| Closed-end funds | 53.0 | 82.3 | 105.6 | 122.5 | 146.9 | 177.2 |
| Exchange-traded funds | 146.3 | 219.0 | 285.8 | 402.0 | 573.7 | 292.1 |
| Brokers and dealers | 100.5 | 129.1 | 158.3 | 186.4 | 224.8 | 123.7 |
(1) Excludes open-end mutual fund shares.
(2) Holdings of U.S. issues by foreign residents.
Source: Board of Governors of the Federal Reserve System, June 5, 2008. |
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