A big part of the working capital that helps Connecticut open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $104 billion in Connecticut’s economy through office space and retail mortgages and more. We are here to strengthen businesses and communities across the Nutmeg State.
- $86 billion in stocks and bonds that help finance business development and create new jobs
- $14 billion billion in real estate, loans and other investments
- $4 billion in mortgage loans on farms, residential, and commercial property
Investing in Affordable Housing
Life Insurers have invested $140 million with the Connecticut Housing Finance Authority in recent years, which helps alleviate the shortage of housing for low- to moderate-income families and persons in the state.
Investing in Apartments/Multifamily
The industry has dedicated in recent years nearly $1.2 billion in mortgage loans for apartment buildings and multifamily homes in Bridgeport, Norwich, Hartford, New Haven and more, helping more individuals and families call Connecticut “home.”
Investing in Infrastructure
Life insurers in recent years have purchased special tax obligation bonds for transportation infrastructure purposes, and bonds to help finance water pollution control. In all, they have provided $403 million for infrastructure in the Nutmeg state.
Investing in Education
Life insurers have invested $177 million in entities dedicated to higher education in recent years, including the University of Connecticut, Sacred Heart University and the University of New Haven.
Investing in Residential
Life insurers are helping middle-income Connecticut resident purchase single family homes by investing $483 million in residential mortgages in recent years. The average life insurer-provided mortgage is approximately $230,000. Life insurers are helping individuals and families call the Connecticut “home.”
Investing in Retail
With retail mortgage loans in recent years totaling more than $1 billion in cities such as Middletown, Norwalk, and New London, life insurers are helping fuel the state’s economy and provide jobs. Nearly 25 percent of jobs in Connecticut are supported by the retail industry.