Issue link: http://clhia.uberflip.com/i/369328
21 investments, including infrastructure investments, which are critical to creating economic growth. The industry is one of the largest investors in a variety of key asset classes. Bonds and stocks are major components of the Canadian life and health insurance industry's total asset portfolio – 35.3 per cent and 15.5 per cent, respectively. Investments in Canadian corporations, through bonds and stocks, totalled $194.4 billion at the end of 2013. In addition, the industry continues to be a major source of financing for Canadian governments at all levels. Of the total assets, almost $105.4 billion (16.3 per cent) was held in government bonds: federal, 25.7 per cent; provincial, 65.2 per cent; and municipal or local, 9.1 per cent. The industry's investment in bonds accounts for 9.7 per cent of all government bonds and 15.6 per cent of all Canadian corporate bonds. Of the $42.4 billion invested in mortgages, 35 per cent was for residential and residential-related (such as apartment buildings) dwellings, and 65 per cent for non-residential structures (such as office buildings, shopping centres, manufacturing plants and warehouses). The industry holds 26 per cent of all Canadian non- residential mortgages. During 2013, life and health insurers' substantial investments in the mutual fund market on behalf of segregated fund policyholders rose 17.6 per cent to $164.6 billion. Of that amount, $143.4 billion was in Canadian funds and the remainder in foreign funds. In total, the industry holds 16 per cent of all mutual funds. Investments by region Life and health insurance providers invest their assets in all regions Canadian Investments by Region End of 2013 (millions) Investment British Prairie Ontario Quebec Atlantic Total Type Columbia Provinces Provinces Canada Corporate securities* $23,767 $ 44,445 $ 88,326 $ 32,979 $15,117 $204,634 Mutual funds* 16,698 31,228 54,690 29,659 11,798 144,073 Mortgages and real estate 13,171 16,922 34,834 14,076 3,228 82,231 Provincial bonds 7,103 6,178 26,722 24,534 6,501 71,038 Federal bonds* 4,216 4,559 10,847 5,803 1,982 27,407 Municipal bonds 1,945 1,503 10,589 3,498 680 18,215 Other* 3,085 4,558 14,264 7,160 3,584 32,651 Total Investments 69,985 109,393 240,272 117,709 42,890 580,249 Assets in Canada (per cent share of total) Sources: OSFI, CLHIA 2003 2005 2007 2009 2011 2013 Sources: OSFI, ACLI, CLHIA Included in these figures are Canadian securities, loans, properties, etc. Excluded are foreign assets held on behalf of Canadian policyholders and non-invested assets, such as investment income due and accrued and outstanding premiums Corporate securities include bonds and stocks *Part or all of these amounts has been attributed to each region by appropriate formulae