Mortgage Loan Exposure for Life Insurers – Year-End 2021
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 an investment in real estate via less direct methods such as commercial mortgage-backed securities (CMBS), real estate investment trusts (REITs), joint venture real estate assets, or the debt securities of real estate related firms.