Life/annuity industry investments

Investments, Life/Annuity Insurers, 2018-2020 (1)

($ billions, end of year)

	Amount			Percent of total investments
Investment type	2018	2019	2020	2018	2019	2020
Bonds	$2,989.1	$3,087.8	$3,272.1	72.48%	71.11%	70.24%
Stocks	94.1	105.3	117.1	2.28	2.43	2.51
Preferred stock	12.3	12.9	14.6	0.30	0.30	0.31
Common stock	81.8	92.4	102.5	1.98	2.13	2.20
Mortgage loans on real estate	521.5	565.5	587.2	12.65	13.02	12.60
First lien real estate mortgage loans	512.6	557.3	579.2	12.43	12.83	12.43
Real estate loans less first liens	8.9	8.3	8.0	0.22	0.19	0.17
Real estate	20.4	23.0	22.6	0.50	0.53	0.49
Occupied properties	5.8	5.9	6.1	0.14	0.14	0.13
Income generating properties	14.1	16.0	16.0	0.34	0.37	0.34
Properties for sale	0.5	1.1	0.6	0.01	0.03	0.01
Cash, cash equivalent and short term investments	104.7	118.7	151.0	2.54	2.73	3.24
Contract loans including premium notes	129.2	131.0	130.4	3.13	3.02	2.80
Derivatives	56.4	79.5	121.5	1.37	1.83	2.61
Other invested assets	187.1	206.0	227.4	4.54	4.74	4.88
Receivables for securities	4.5	5.0	7.0	0.11	0.11	0.15
Securities lending reinvested collateral assets	12.6	15.5	16.2	0.30	0.36	0.35
Write-ins for invested assets	4.5	5.3	6.1	0.11	0.12	0.13
Total cash and invested assets	$4,124.1	$4,342.5	$4,658.6	100.00%	100.00%	100.00%