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 $184 million with the Connecticut Housing Finance Authority, which helps alleviate the shortage of housing for low- to moderate-income families and persons in this state.
Investing in Apartments/Multifamily
The industry has dedicated $837 million 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 have purchased special tax obligation bonds for transportation infrastructure purposes, and bonds to help finance pollution control. In all, they have provided $488 million for infrastructure in the state.
Investing in Education
Life insurers have invested $92 million in entities dedicated to higher education, including the University of Connecticut, Sacred Heart University and Wesleyan University.
Investing in Retail
With retail mortgage loans totaling $1.1 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.
Investing in Office Space
Life insurers have invested nearly $1 billion in mortgage loans for office space in Stamford, Hartford, Torrington and other cities in the state. This financing helps private businesses and public entities set up their shops and thrive, making Connecticut’s economy one of the fastest growing in the nation.