WASHINGTON, DC—Results are in from the latest semiannualPortfolio Lender Survey of insurance company investment performanceconducted by the CRE Finance Council andTrepp LLC. The pattern that emerges when lookingback over survey results from previous years is one of stabilityand reliability.

"These results provide clear evidence of extremely solidinvestment performance within insurance company portfolios," ToddEverett, chair of CREFC's portfolio lenders insurance companysub-forum, observed in early 2013, when the survey coveredperformance from the first two quarters of 2012. Managing directorand head of real estate fixed income at Principal Real EstateInvestors, Everett continued, "They also demonstrate the reasons weare seeing increasing allocations in commercial mortgages from thissector. The lowering level of losses and minor levels of high riskseem to indicate that insurance companies are benefitting from therecovery in real estate fundamentals."

Three years later, the newest results are comparable. Insurers'allocations to commercial mortgages showed a slight increase forthe first six months of 2015 compared to year-end 2014, while thedelinquency rate among these mortgages is bested only by Fannie Maeand Freddie Mac, according to recent figures from theMortgage Bankers Association.