Asset distribution.

THE "FLOAT" CYCLE: The interval between when the insurer receives a premium and the time a claim against that policy must be paid. During the cycle, the insurer invests the premium, making a profit or loss depending on how the investment performs. Life insurers establish separate accounts for nonguaranteed insurance products, such as variable life insurance and annuities, whose values vary because they are invested in stock and/or bond markets. Separate accounts also may be used to fund guaranteed benefits.

Property/Casualty

Potential outcomes with property/casualty contracts, which are
usually short term, can vary widely. Catastrophic losses can wipe
out years of accumulated premiums in some lines.
($ Billions)

Preferred Stocks:            $18.0
Real Estate, Offices:         $9.4
Real Estate, Investment:      $1.5
Bonds:                      $854.0
Common Stocks:              $120.1-
Cash & Short-Term
  Investments:              $102.7
Investments in
  Affiliates:                $85.1
Other Nonaffiliated
  Invested Assets:           $55.7
Total:                      $1.25 Trillion (2008)

Note: Totals may not add up due to rounding.

Source: Best's Aggregates & Averages

Life/Health
Claims against life insurance and annuity contracts, which can last
decades, are more predictable as risks and losses typically are long
term and stable.
($ Billions)

Preferred Stocks:      $64.4
Contract Loans:       $121.7
Cash & Short Term
  Investments:        $149.1
Other Assets:         $304.4
Mortgage Loans:       $336.9
Separate Accounts:    $1,337.4
Bonds:                $2,207.7
Real Estate:           $20.2
Common Stocks:         $52.5
Total:                $4.63 Trillion (2008)

Note: Totals may not add up due to rounding.

Source: Bests's Aggregates & Averages