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## INVESTMENTS 

## Net Investment Income 

The significant components of Net investment income are presented in the following table. Fixed income securities, as presented, include both fixed maturity securities and non-redeemable preferred stock. 

<img src='content_image/1040112.jpg'>

Net investment income, after tax, increased $227 million in 2019 as compared with 2018 driven by limited partnership and common stock returns. 

