A big part of the working capital that helps South Carolina 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 $86 billion in South Carolina’s economy with agricultural loans, mortgages for apartments/multifamily units and office space. Life insurers have purchased bonds to boost industry, infrastructure and economic development in the Palmetto State. We are here to strengthen communities and families across the state.
- $67 billion in stocks and bonds that help finance business development and create new jobs
- $12 billion in real estate, loans and other investments
- $7 billion in mortgage loans on farms, residential, and commercial property
Investing in Office Space
Life insurers have $573 million invested today in office space mortgages in Spartanburg, Myrtle Beach, Sumter and more, helping business and commerce grow in South Carolina.
Investing in Industry
Life insurers have invested more than $862 million in South Carolina for industrial development in Greenville, Anderson, Union, Spartanburg and other parts, contributing to the Palmetto State’s significant growth in this important economic sector.
Investing in Infrastructure
Life insurers have purchased more than $1.3 billion in bonds for infrastructure development in the state, from $333 million in financing for the South Carolina Ports Authority to $87 million for the Piedmont Municipal Power Agency and more. These investments help fuel the state’s advance into the future.
Investing in Apartment/ Multifamily
In Charleston, Greenville, Columbia and more, families and individuals are residing in apartments and multifamily units in part because of the financing providing by life insurers. In all, the industry has invested nearly $2 billion in recent years in this sector in the state.
Investing in Residential
Life insurers have invested in single family mortgages in major South Carolina cities such as Charleston and Columbia to smaller cities such as Bennettsville and Newberry. In recent years, these mortgage investments total mor than $311 million.
Investing in Affordable Housing
Life insurers have invested more than $50 million in bonds issued by the South Carolina State Housing Finance and Development Authority, an agency which administers federal and state programs that target low and moderate-income residents in South Carolina.