LIFE INSURANCE COMPANIES AND THE EQUITY CAPITAL MARKETS.

The article comments on the interest of life insurance companies in the equity capital markets, particularly in reference to the impact of separate accounts and variable annuities. Postwar conditions of life insurance companies are discussed. The author attributes the inability of life insurance companies to compete in the pension field on the fact that they are required to heavily invest their funds in bonds and mortgages. He also notes that the earnings of life insurance companies are subject to income taxation, as opposed to the earnings of noninsured plans.