Association of California Life & Health Insurance Co

This report, produced every two years, shows in concise form the size and scope of the California industry.  I hope you will find this useful in understanding the many contributions that insurance companies make to the State of California.  Among the report’s highlights:

• In 2006, insurance companies employed almost 250,000 Californians, with a payroll of $16.9 billion.
• Insurance companies will pay over $2.1 billion in premium taxes in 2009-10, the fourth largest source of General Fund Revenue.
• Insurance companies have over $723 billion invested in California, including government securities, stocks, bonds, loans, real estate and other investments.
• Insurers own over $29 billion in municipal bonds, which finance the construction of schools, roads, housing and other infrastructure.
• Insurers have invested over $14.3 billion in the California Organized Investment Network, which stimulates economic activity in underserved areas.  Investments made by insurers through IMPACT have improved housing, childcare, job, and healthcare opportunities in low-income neighborhoods.

The report also summarizes the business of life and health insurance in California and describes some of the charitable contributions of insurance companies and their employees across the state.  Much of the credit, and our thanks, go to Richard Wiebe who once again guided this project to a successful completion.  

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