A big part of the working capital that helps Virginia open its doors to families, invest in new projects and grow its workforce comes from long-term investments by life insurers. Our companies have invested $168 billion in Virginia’s economy with agricultural loans, education and affordable housing bonds, retail mortgages and more. We are here to strengthen communities and families across the Old Dominion.
- $129 billion in stocks and bonds that help finance business development and create new jobs
- $22 billion in real estate, loans and other investments
- $17 billion in mortgage loans on farms, residential, and commercial property
Investing in Education
Life insurers have purchased more than $1.2 billion in bonds issued by education-based entities, including $256 million from the Virginia Public School Authority.
Investing in Affordable Housing
Life insurers have invested more than $1.2 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 more than $5.5 billion in mortgages for apartment buildings and multifamily units, helping families call the Old Dominion “home.”
Investing in Infrastructure
Life insurers have investments today in the Virginia Commonwealth Transportation Board, the Virginia State Port Authority, the Fairfax County Water Authority, and more, with bond purchases for a wide range of infrastructure needs exceeding $880 million.
Investing in Retail
By providing $3.6 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 nearly $88 million in agricultural loans that provide the working capital Virginia farmers need to purchase equipment and support their operations.