<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 0000049975
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 INA INVESTMENT SECURITIES, INC.
001 B000000 811-2299
001 C000000 8607263700
002 A000000 P. O. BOX 13856
002 B000000 PHILADELPHIA
002 C000000 PA
002 D010000 19192
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 CIGNA INVESTMENTS,INC
008 B000001 A
008 C000001 801-18094
008 D010001 HARTFORD
008 D020001 CT
008 D030001 06152
008 D040001 2217
012 A000001 STATE STREET BANK & TRUST COMPANY
012 B000001 84-00896
012 C010001 BOSTON
012 C020001 MA
012 C030001 02266
013 A000001 PRICE WATERHOUSE
013 B010001 BOSTON
013 B020001 MA
013 B030001 02110
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
<PAGE> PAGE 2
015 C020001 MA
015 C030001 02266
015 E010001 X
018 000000 Y
019 A000000 N
019 B000000 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 STATE STREET BANK & TRUST
022 B000001 04-1867445
022 C000001 648828
022 D000001 0
022 A000002 GOLDMAN SACHS & CO
022 B000002 13-5108880
022 C000002 190073
022 D000002 4462
022 A000003 AMERICAN EXPRESS CREDIT CORP.
022 B000003 11-1988350
022 C000003 21966
022 D000003 0
022 A000004 GREENWICH CAPITAL CORP.
022 B000004 13-2697091
022 C000004 10391
022 D000004 8475
022 A000005 BANKERS TRUST CO.
022 B000005 13-3311934
022 C000005 9426
022 D000005 9060
022 A000006 HOUSEHOLD FINANCE CORP.
022 B000006 36-1239445
022 C000006 13781
022 D000006 0
022 A000007 FIRST BOSTON CORP.
022 B000007 13-5659485
022 C000007 6071
022 D000007 5088
022 A000008 BEAR STEARNS & CO.
022 B000008 13-3299429
022 C000008 5631
022 D000008 5247
022 A000009 SALOMON BROS.
022 B000009 13-3082694
<PAGE> PAGE 3
022 C000009 4014
022 D000009 5517
022 A000010 DONALDSON, LUFKIN JENRETT
022 B000010 13-2741729
022 C000010 3869
022 D000010 5466
023 C000000 914050
023 D000000 43315
024 000000 Y
025 A000001 MORGAN STANLEY & CO., INC.
025 B000001 13-2655998
025 C000001 E
025 D000001 699
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 N
028 A010000 0
028 A020000 0
028 A030000 0
028 A040000 0
028 B010000 0
028 B020000 0
028 B030000 0
028 B040000 0
028 C010000 0
028 C020000 0
028 C030000 0
028 C040000 0
028 D010000 0
028 D020000 0
028 D030000 0
028 D040000 0
028 E010000 0
028 E020000 0
028 E030000 0
028 E040000 0
028 F010000 0
<PAGE> PAGE 4
028 F020000 0
028 F030000 0
028 F040000 0
028 G010000 0
028 G020000 0
028 G030000 0
028 G040000 0
028 H000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 75000
048 A020000 0.550
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 75000
048 K020000 0.400
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
<PAGE> PAGE 5
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 Y
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 0
062 A000000 Y
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 4.6
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 20.2
062 N000000 2.0
062 O000000 0.0
062 P000000 70.6
062 Q000000 0.0
062 R000000 0.8
063 A000000 0
063 B000000 10.1
064 A000000 N
064 B000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
<PAGE> PAGE 6
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 74887
071 B000000 75985
071 C000000 84283
071 D000000 89
072 A000000 6
072 B000000 6914
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 472
072 G000000 0
072 H000000 0
072 I000000 51
072 J000000 77
072 K000000 0
072 L000000 48
072 M000000 38
072 N000000 0
072 O000000 21
072 P000000 0
072 Q000000 0
072 R000000 41
072 S000000 -10
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 77
<PAGE> PAGE 7
072 X000000 815
072 Y000000 0
072 Z000000 6099
072AA000000 1175
072BB000000 2553
072CC010000 0
072CC020000 2118
072DD010000 6182
072DD020000 0
072EE000000 0
073 A010000 1.2900
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 3
074 B000000 0
074 C000000 4120
074 D000000 83429
074 E000000 694
074 F000000 0
074 G000000 0
074 H000000 0
074 I000000 81
074 J000000 0
074 K000000 0
074 L000000 1746
074 M000000 3
074 N000000 90076
074 O000000 0
074 P000000 127
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 84
074 S000000 0
074 T000000 89865
074 U010000 4792
074 U020000 0
074 V010000 18.75
074 V020000 0.00
074 W000000 0.0000
074 X000000 10931
074 Y000000 0
075 A000000 0
075 B000000 89740
076 000000 16.13
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
<PAGE> PAGE 8
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 NATIONAL UNION FIRE INS CO. OF PITTSBURGH, PA
080 C000000 10000
081 A000000 Y
081 B000000 6
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
087 A010000 COMMON STOCK
087 A020000 449764109
087 A030000 IIS
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE ALFRED A. BINGHAM III
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ANNUAL
REPORT FOR THE PERIOD ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 86,180
<INVESTMENTS-AT-VALUE> 88,243
<RECEIVABLES> 1,746
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 81
<TOTAL-ASSETS> 90,076
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 211
<TOTAL-LIABILITIES> 211
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 89,822
<SHARES-COMMON-STOCK> 4,792
<SHARES-COMMON-PRIOR> 4,792
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 49
<ACCUMULATED-NET-GAINS> (1,982)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2074
<NET-ASSETS> 89,865
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,914
<OTHER-INCOME> 0
<EXPENSES-NET> 815
<NET-INVESTMENT-INCOME> 6,099
<REALIZED-GAINS-CURRENT> (1,378)
<APPREC-INCREASE-CURRENT> (2,118)
<NET-CHANGE-FROM-OPS> 2,603
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,182)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (3,579)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (543)
<OVERDISTRIB-NII-PRIOR> 15
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 472
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 815
<AVERAGE-NET-ASSETS> 89,740
<PER-SHARE-NAV-BEGIN> 19.50
<PER-SHARE-NII> 1.27
<PER-SHARE-GAIN-APPREC> (0.73)
<PER-SHARE-DIVIDEND> 1.29
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.75
<EXPENSE-RATIO> 0.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
