INVESTMENTS, LIFE/HEALTH INSURERS, 2004-2008
       Amount ($ billions)  Percent of total investments
Investment type 2004 2007 2008 2004 2007 2008
Bonds $2,049.4 $2,164.1 $2,147.1 75.88% 73.26% 71.27%
Stocks 99.3 141.2 114.2 3.68 4.78 3.79
     Preferred stocks 32.5 65.6 63.7 1.20 2.22 2.12
     Common stocks 66.8 75.6 50.5 2.47 2.56 1.68
Mortgage loans on real estate 266.1 315.1 327.4 9.85 10.67 10.87
     First liens 265.0 313.1 325.1 9.81 10.60 10.79
     Other than first liens 1.1 2.0 2.3 0.04 0.07 0.08
Real estate 19.6 19.6 20.0 0.72 0.66 0.67
     Properties occupied by company 5.8 5.9 5.9 0.22 0.20 0.20
     Properties held for income production 12.3 12.7 13.8 0.46 0.43 0.46
     Properties held for sale 1.4 0.9 0.4 0.05 0.03 0.01
Cash, cash equivalent and short-term investments 74.7 79.2 146.5 2.76 2.68 4.86
Contract loans 105.6 113.5 118.1 3.91 3.84 3.92
Other invested assets 70.2 102.5 103.2 2.60 3.47 3.42
Receivables for securities 2.5 2.4 3.0 0.09 0.08 0.10
Aggregate write-ins for invested assets 13.5 16.4 36.0 0.50 0.56 1.20
Total cash and invested assets $2,700.8 $2,954.0 $3,012.8 100.00% 100.00% 100.00%

Source: National Association of Insurance Commissioners (NAIC) Annual Statement Database, via Highline Data, LLC. Copyrighted information. No portion of this work may be copied or redistributed without the express written permission of Highline Data, LLC.