A big part of the working capital that helps Alabama open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $71 billion in Alabama’s economy with agricultural loans, education bonds, residential and retail mortgages and more. We are here to strengthen businesses and communities across the Cotton State.
Investing in Retail
Life insurers have long supported small businesses. Their investments in retail are one example. They provided mortgage loans of less than $200,000 in Scottsboro and Covington County. Larger retail operations in Birmingham and Mobile received financing from life insurers as well. In all, life insurer retail mortgage loans totaled more than $725 million in Alabama.
Investing in Infrastructure
The Mobile Airport Authority, the Alabama State Port Authority, the Birmingham Water Works and Sewer Board and the Tuskegee Utility Board are just some of the entities maintaining and building the state’s infrastructure that have received financing from life insurers. In all, life insurers have purchased more than $525 million in bonds that they and others building roads, bridges, ports, airports and fueling the state's future and providing clean water have issued.
Investing in Education
The Alabama State Public School & College Authority has received $255 million in financing from life insurers. The University of Alabama has received $141 million in financing. Auburn University has received $28 million. In all, life insurers have purchased $533 million in bonds issued by school districts, colleges, universities and other education-based entities, helping prepare Alabama students for the future.
Investing in Agriculture
Farmers in Selma, Decatur, Montgomery and throughout the state are getting help from life insurers who have provided $470 million in agricultural mortgage loans.
Investing in Industry
Alabama, the Cotton State, is an industrial hub as well. Life insurers help industries thrive in Birmingham, Mobile, Huntsville and Auburn with financing. They have provided $320 million in industrial loans.
Investing in Residential
Life insurer financing of residential mortgage loans is helping individuals and families throughout the state to call Alabama “home.” In all, life insurers have issued $56 million in mortgage loans for single-family homes.