Investing in Retail
Life insurers have long supported small businesses. Their investments in recent years in retail are one example. They provided $2 million in loans in Albertville, nearly $5 million in Anniston-Oxford and nearly $8 million in Troy. Larger retail operations in Birmingham, Mobile and Montgomery received financing from life insurers as well. In all, life insurer retail mortgage loans totaled more than $707 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 $720 million in municipal bonds for infrastructure in recent years.
Investing in Education
The Alabama State Public School & College Authority has received $257 million in financing from life insurers. Auburn University has received $120 million. The University of Alabama has received $28 million. The Tuscaloosa City Board of Education has received nearly $20 million. In all, life insurers in recent years have purchased $542 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, Talladega and throughout the state are getting help from life insurers who have provided more than $120 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 $440 million in industrial loans in recent years.
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 $152 million in mortgage loans for single-family homes.