U.S. Life Insurance Industry Mortgage Loan Exposure
Mortgage loans have long been an important asset class for life insurers. These assets involve the insurer making a loan directly to a real estate developer or other property owner, rather than via less direct methods of investing in commercial real estate such as commercial mortgage-backed securities (CMBS), real estate investment trusts (REITs), joint venture real estate assets, or in the debt securities of real estate related firms.
