Description: This article is part of the Digest of Informal Discussion, which took place at the 1956 Society of Actuaries Eastern Spring Meeting, held April 19-20 in Hartford, CT. It identifies the participants and summarizes each person’s comments. The participants discuss changes in investment policy over the last ten years, direct placement financing, differences among companies by size, equity investments and real estate ownership. From Transactions of Society of Actuaries 1956 Volume 8, Number 21.