California Organized Investment Network $21.9 billion21,520 Qualified Investments Housing and Community Development Bonds $2.5 billionCalifornia Communities Development Authority, California Housing Finance Agency, CalVet Home Loans, 130 local redevelopment agencies

 

CALIFORNIA INSURERS Build communities

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Presentation toPresentation byDateLogo

Companies Regulated 397Domiciled in California 14Agent licenses 247,000

LIFEPROPERTY/CASUALTY

CALIFORNIA INSURERSProvide financial security for retirement, illness, injury or death and manage the financial risk of driving a car, owning a home or running a business.

669100

123,000

LIFE INSURANCERetirement savings, lifetime income, and life, disability and long term care protection.

Life Insurance in Force (2015)$3.6 Trillion

Individual

Group

LIFE INSURANCE

Premiums Paid in California (2015)$66.1 Billion

Annuities

Life Insurance

Accident & Health

Deposit Funds

LIFE INSURANCE

Benefits Paid in California (2015)$18.2 Billion

Life Insurance

Annuities

Policy Dividends

PROPERTY/CASUALTY INSURANCEProtects consumers and businesses from financial loss due to property damage and legal liability

Premiums Paid in California (2015) $69.8 Billion

Private AutoWorkers CompHomeownersCommercialOther

PROPERTY/CASUALTY INSURANCE

Claims Paid in California (2015)$39.6 Billion

Private AutoCommercialWorkers CompHomeownersOther

INVESTMENTSInsurers buy municipal bonds -- safe investments that can be liquidated quickly. 

U.S. Investments (2015) – Life$3.7 Trillion

BondsMortgagesCashStocksReal EstateOther

INVESTMENTS

U.S. Investments (2015) – P/C$1.5 Trillion

BondsStocksCashMortgagesReal EstateOther

Catastrophe Losses (2015)Texas $3.4 billionCalifornia $1.2 billionMassachusetts $1.2 billion

CATASTROPHESWildfires and earthquakes threaten millions of Californians.

Wildfires (2015)Texas 9,272 California 8,745North Carolina 3,828

California Earthquake AuthorityPolicies in Force 870,000Claims-Paying Capacity $12 billion

Insurance Industry Employees 297,159Payroll $22.3 billion

Supplier Diversity $1.5 billionMinority Business Enterprises $729 millionWomen Business Enterprises $558 millionMulti-Certified Business Enterprises $135 millionDisabled Veteran Business Enterprises $89 millionLGBTQ Business Enterprises $5 million

CALIFORNIA INSURERS Provide green, upwardly-mobile jobs and purchase goods and services from local businesses.

Insurance Industry Charitable Fund$25.3 million in U.S. community grants218,000 hours of volunteer community service

CALIFORNIA INSURERS Give generously to their communities

California General Fund Revenue (2016-17) $169 billionPersonal Income Tax $85.3 billionSales and Use Tax $38.9 billionCorporation Tax $11 billionMotor Vehicle Fees $6.9 billionHighway Users Tax $4.8 billionInsurance Tax $2.3 billionCigarette Tax $816 millionAlcoholic Beverage Tax $377 millionOther $18.7 billion 

CALIFORNIA INSURERS An important and stable source of state tax revenue

Highest Insurance Tax Rate Among Large States(Percent of Gross Premiums)California 2.35New Jersey 2.10New York 2.00

California Bond Investments $51.3 billionEducation $14.9 billionState Government $9.1 billionLocal Government $6.9 billionTransportation $6.9 billionWater $5.2 billionEnergy $3.5 billionHousing and Community Development $2.5 billionHealthcare $1.3 billionEnvironmental Protection $1.1 billion

CALIFORNIA INSURERS Finance the construction of California’s infrastructure.

California Organized Investment Network $21.9 billion21,520 Qualified Investments Housing and Community Development Bonds $2.5 billionCalifornia Communities Development Authority, California Housing Finance Agency, CalVet Home Loans, 130 local redevelopment agencies

 

CALIFORNIA INSURERS Build communities

K-12 $6.4 billion443 local school districts

EDUCATION $14.9 billionInsurers invest in California’s future by purchasing bonds that help schools, community colleges and universities build the facilities they need.

Higher Education $4.5 billionUniversity of California, California State University, Student Loan Corporation

Community Colleges $4 billion68 community college districts

State Government $9.1 billionEconomic recovery, economic development, public works

Local Government $6.9 billion262 cities and counties 

GOVERNMENT $16 billionInsurers support state and local governments with investments that finance capital improvements.

TRANSPORTATION $6.9 billionInsurers keep California moving by investing in transportation infrastructure.

Bay Area Toll Authority

Los Angeles County Airports

Alameda Corridor Transportation Authority

LA County Metropolitan Transportation Authority

San Francisco Airports

Water $5.2 billionLA Water and Power, Metropolitan Water District of Southern California, San Diego Water Authority, Sacramento Water Financing Authority Energy $3.4 billionSan Francisco Public Utilities Commission, East Bay Municipal Utilities District, Southern California Public Power Authority, Sacramento Municipal Utility District

WATER AND ENERGY $8.6 billionInvestments in water and energy bonds help sustain California’s growing population.

Healthcare $1.3 billionCalifornia Health Facilities Financing Authority UC Medical Center Environmental Protection $1.1 billionCalifornia Pollution Control Financing Authority Orange County Sanitation District Sacramento County Sanitation District

HEALTHCARE AND ENVIRONMENTALPROTECTION $2.4 billionInvestments in healthcare facilities, clean water and clean air keep Californians healthy.

SOURCES

AM Best American Council of Life Insurers

California 2016-17 BudgetCalifornia Department of Insurance

California Earthquake Authority Insurance Information Institute

National Association of Insurance CommissionersNational Interagency Fire Center

Property Claims ServicesSNL Financial LC

US Department of Labor, Bureau of Labor Statistics

#CALIFORNIA INSURANCE IMPACT

American Council of Life Insurers

American Insurance Association

Association of California Insurance Companies

Association of California Life and Health Insurance Companies

Insurance Information Institute

Pacific Association of Domestic Insurance Companies

Personal Insurance Federation of California

FOR MORE INFORMATION

Richard WiebePacific Crest Public Affairs

richard@pacificcrestpa.com916.952.1730