Municipal Bonds

Municipal Bonds

Insurance companies help fund the construction of schools, roads and healthcare facilities, and a variety of other public sector projects through their investments in municipal bonds. The property/casualty insurance industry invested $331.1 billion in such bonds in 2011, and the life insurance industry invested $126.6 billion, according to the Federal Reserve. (See pages _ and _ for further information on insurance industry investments.)

INSURANCE COMPANY HOLDINGS OF U.S. MUNICIPAL SECURITIES AND LOANS, 2009-2013

($ billions, end of year)

  2009 2010 2011 2012 2013
Property/casualty insurance companies $369.4 $348.4 $331.0 $328.1 $325.8
Life insurance companies 73.1 112.3 121.8 131.5 141.2
Total $442.5 $460.7 $452.8 $459.6 $467.0

Source: Board of Governors of the Federal Reserve System, June 5, 2014.

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