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美国保险业 在类似于美国的资本市场发育程度较高的国家,寿险公司可以投资的信用工具范围非常广泛。截至2003年底,公司债券的数量占美国寿险公司总资产的61％,远远高于其他投资品所占的比例。公司债券一度是美国寿险公司资产中最大的一类资产,由于保险商寻求从信用工具中获得超额盈利,因此在2003年这类资产的绝对数量变得更高。保险公司的资产负债表分为总账户和独立账户两部分。独立账户是由保险公司建立的在法律上独
U.S. Insurance Industry In countries with a high degree of capital market development similar to the U.S., life insurance companies can invest in a wide range of credit instruments. As of the end of 2003, the number of corporate bonds accounted for 61% of the total assets of the United States life insurance companies, far higher than the proportion of other investment products. Corporate bonds were once the largest asset of life insurance company assets in the United States. As insurers sought excess profits from credit instruments, the absolute number of such assets in 2003 was even higher. The insurance company’s balance sheet is divided into general accounts and separate accounts in two parts. Independent accounts are legally established by insurance companies