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Insurers' Commercial Mortgage Metrics Hold Steady

MIAMI—Released Monday in connection with the CREFC January Conference in Miami, the biannual survey found that allocations have remained stable even as the dollar volume increased.

By Paul Bubny | paulbubny | Updated on January 09, 2017

Photo of Lisa Pendergast Lisa Pendergast, executive director of the CRE Finance Council.

MIAMI—Insurance companies’ commercial mortgage investments remain consistent in terms of exposure, net losses and loan-to-value ratios, according to preliminary results of the CREFC/Trepp Insurance Company Portfolio Lender Survey for the first half of 2016. The CRE Finance Council and Trepp LLC released the biannual survey Monday in connection with the CREFC January Conference in Miami and a panel discussion taking a deeper dive into the results.

Tracking the performance of commercial mortgage investments across 27 insurance companies with a combined $217 billion in loan exposure, the survey found that insurers’ commercial mortgage holdings averaged 10.68% of total invested assets, with individual respondents’ allocations ranging from a high of 17.58% to a low of 2.21%. CREFC says insurers’ allocations to commercial mortgages have remained stable over the past few years even as the total dollar volume increased.

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