Sunday, September 20, 2009

Assets and Investments.

Assets and Investments.
The admitted assets of all United States legal reserve life insurance companies approximated $58.3 billion at the end of 1949. The figure was $55.5 billion at end of 1948, so the increase was about $3.8 billion during the year. Reflecting the heavy volume of capital formation in the private sectors of our national economy during the past three years, public-utility bond holdings rose from 11.6 per cent of assets at end of 1946 to about 16.5 per cent of assets at the close of 1949. Industrial and miscellaneous bonds, mainly industrials, increased from 6.9 per cent to 14.9 per cent in the same period; and mortgage holdings rose from 14.8 per cent to 21.7 per cent. At the same time holdings of United States Government bonds declined from 44.9 per cent to 25.6 per cent of assets.
The gross acquisitions of new investments by United States legal reserve life companies totaled $6.6 billion during the first nine months of 1949, as compared with $8.2 billion during the same period of the former year. The acquisition of public-utility bonds declined $304 million; of railroad bonds, $96 million; and of industrial and miscellaneous bonds, $108 million.

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