According to a National Association of Insurance Commissioners (NAIC), the US insurance industry reported a total of $7.5 trillion in total cash and invested assets at the end of last year, showing an increase of 7.7% compared to 2019.
The NAIC report also noted that cash and invested assets have grown steadily on an absolute dollar basis since 2011, with BACV increasing over 40% during the 10-year period.
The US insurance industry’s composition of assets has been relatively stable over time, with bonds continuing to be the largest component, representing 62.6% of total cash and invested assets at year-end 2020.
