A big part of the working capital that helps Virginia open its doors, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $171 billion in Virginia’s economy with agricultural loans, education and affordable housing bonds, retail mortgages and more. We are here to strengthen communities and businesses across the Old Dominion.
Investing in Education
Life insurers have purchased nearly $1.3 billion in bonds issued by education-based entities, including the Virginia Public School Authority among others.
Investing in Affordable Housing
Life insurers have invested more than $1 billion with the Virginia Housing Development Authority, which helps Virginians attain quality, affordable housing.
Investing in Apartments/Multifamily
In Newport News, Richmond and other cities, life insurers have invested nearly $4.8 billion in mortgages for apartment buildings and multifamily units, helping families call Virginia “home.”
Investing in Infrastructure
Life insurers have invested in the Virginia Commonwealth Transportation Board, the Fairfax County Water Authority, the Chesapeake Transportation System and more, with bond purchases for a wide range of infrastructure needs exceeding $919 million.
Investing in Retail
By providing $3.7 billion in retail mortgage loans, life insurers play a role in boosting employment in Virginia. The National Retail Federation says that 24 percent of jobs are supported by the retail industry in the state.
Investing in Agriculture
Life insurers have invested $94 million in agricultural loans that provide the working capital Virginia farmers need to purchase equipment and support their operations.