A big part of the working capital that helps Pennsylvania open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $250 billion in Pennsylvania’s economy with agricultural loans, education bonds, residential and retail mortgages and more. We are here to strengthen businesses and communities across the Keystone State.
- $204 billion in stocks and bonds that help finance business development and create new jobs
- $32 billion in real estate, loans and other investments
- $14 billion in mortgage loans on farms, residential, and commercial property
Investing in Apartment/ Multifamily
The industry has dedicated $2.1 billion in apartments/multifamily, including $1.4 billion in Philadelphia and surrounding areas, $120 million in Harrisburg and Carlisle, and $20 million in Reading, contributing to a vibrant and affordable housing market.
Investing in Economic Development
Life insurers have invested $8.4 billion in industrial, office and retail mortgages in Pennsylvania, helping businesses secure factory space, workplaces for white-collar workers and sites to sell the goods consumers want and need.
Investing in Education
Life insurers have invested more than $2.1 billion in bonds for education. From financing for the School District of Philadelphia to the University of Pittsburgh and Penn State, these bonds allow schools to invest in safer buildings, keep up with and enhance technology, and ensure Pennsylvania students have the tools they need to learn at their best.
Investing in Capital Improvements
With more than $2.2 billion invested in the Commonwealth Financing Authority, the Monroeville Financing Authority and in Chester County, Beaver County, life insurers are helps cities and towns throughout the Keystone State modernize.
Investing in Infrastructure
Life insurers have invested more than $1.7 billion to finance Pennsylvania ports, transportation and clean water, including $1 billion for the Pennsylvania State Turnpike, nearly $6 million for the Allegheny County Airport Authority and $100 million for the Erie County Water Authority.
Investing in Residential
Life insurers have more than $720 million in single-family mortgages in the state, helping families in East Stroudsburg, York, New Castle and Lock Haven call Pennsylvania “home.”