The document summarizes the California insurance industry's impact in the state. It details that insurers invest over $51 billion in California bonds that finance education, transportation, water, healthcare and other infrastructure. It also notes that insurers employ over 297,000 people in California and pay $22 billion in annual payroll. Insurers pay $2.3 billion annually in insurance taxes to the California General Fund.

1. California Organized Investment Network $21.9 billion
21,520 Qualified Investments
Housing and Community Development Bonds $2.5 billion
California Communities Development Authority, California Housing Finance
Agency, CalVet Home Loans, 130 local redevelopment agencies
CALIFORNIA INSURERS
Build communities

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3. Companies Regulated 397
Domiciled in California 14
Agent licenses 247,000
LIFE
PROPERTY/
CASUALTY
CALIFORNIA INSURERS
Provide financial security for retirement, illness, injury
or death and manage the financial risk of driving a
car, owning a home or running a business.
669
100
123,000

4. LIFE INSURANCE
Retirement savings, lifetime income, and life,
disability and long term care protection.
Life Insurance in Force (2015)
$3.6 Trillion
Individual
Group

5. LIFE INSURANCE
Premiums Paid in California (2015)
$66.1 Billion
Annuities
Life Insurance
Accident & Health
Deposit Funds

6. LIFE INSURANCE
Benefits Paid in California (2015)
$18.2 Billion
Life Insurance
Annuities
Policy Dividends

7. PROPERTY/CASUALTY INSURANCE
Protects consumers and businesses from financial
loss due to property damage and legal liability
Premiums Paid in California (2015)
$69.8 Billion
Private Auto
Workers Comp
Homeowners
Commercial
Other

8. PROPERTY/CASUALTY INSURANCE
Claims Paid in California (2015)
$39.6 Billion
Private Auto
Commercial
Workers Comp
Homeowners
Other

9. INVESTMENTS
Insurers buy municipal bonds -- safe investments
that can be liquidated quickly.
U.S. Investments (2015) – Life
$3.7 Trillion
Bonds
Mortgages
Cash
Stocks
Real Estate
Other

10. INVESTMENTS
U.S. Investments (2015) –
P/C$1.5 Trillion
Bonds
Stocks
Cash
Mortgages
Real Estate
Other

11. Catastrophe Losses (2015)
Texas $3.4 billion
California $1.2 billion
Massachusetts $1.2 billion
CATASTROPHES
Wildfires and earthquakes threaten millions of
Californians.
Wildfires (2015)
Texas 9,272
California 8,745
North Carolina 3,828
California Earthquake Authority
Policies in Force 870,000
Claims-Paying Capacity $12 billion

12. Insurance Industry Employees 297,159
Payroll $22.3 billion
Supplier Diversity $1.5 billion
Minority Business Enterprises $729 million
Women Business Enterprises $558 million
Multi-Certified Business Enterprises $135 million
Disabled Veteran Business Enterprises $89 million
LGBTQ Business Enterprises $5 million
CALIFORNIA INSURERS
Provide green, upwardly-mobile jobs and purchase
goods and services from local businesses.

13. Insurance Industry Charitable Fund
$25.3 million in U.S. community grants
218,000 hours of volunteer community service
CALIFORNIA INSURERS
Give generously to their communities

14. California General Fund
Revenue (2016-17) $169 billion
Personal Income Tax $85.3 billion
Sales and Use Tax $38.9 billion
Corporation Tax $11 billion
Motor Vehicle Fees $6.9 billion
Highway Users Tax $4.8 billion
Insurance Tax $2.3 billion
Cigarette Tax $816 million
Alcoholic Beverage Tax $377 million
Other $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 2.35
New Jersey 2.10
New York 2.00

15. California Bond Investments $51.3 billion
Education $14.9 billion
State Government $9.1 billion
Local Government $6.9 billion
Transportation $6.9 billion
Water $5.2 billion
Energy $3.5 billion
Housing and Community Development $2.5 billion
Healthcare $1.3 billion
Environmental Protection $1.1 billion
CALIFORNIA INSURERS
Finance the construction of California’s infrastructure.

16. California Organized Investment Network $21.9 billion
21,520 Qualified Investments
Housing and Community Development Bonds $2.5 billion
California Communities Development Authority, California Housing Finance
Agency, CalVet Home Loans, 130 local redevelopment agencies
CALIFORNIA INSURERS
Build communities

17. K-12 $6.4 billion
443 local school districts
EDUCATION $14.9 billion
Insurers invest in California’s future by purchasing
bonds that help schools, community colleges and
universities build the facilities they need.
Higher Education $4.5 billion
University of California, California State
University, Student Loan Corporation
Community Colleges $4 billion
68 community college districts

18. State Government $9.1 billion
Economic recovery, economic development, public works
Local Government $6.9 billion
262 cities and counties
GOVERNMENT $16 billion
Insurers support state and local governments with
investments that finance capital improvements.

19. TRANSPORTATION $6.9 billion
Insurers 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

20. Water $5.2 billion
LA Water and Power, Metropolitan Water District of Southern
California, San Diego Water Authority, Sacramento Water
Financing Authority
Energy $3.4 billion
San Francisco Public Utilities Commission, East Bay Municipal
Utilities District, Southern California Public Power Authority,
Sacramento Municipal Utility District
WATER AND ENERGY $8.6 billion
Investments in water and energy bonds help sustain
California’s growing population.

21. Healthcare $1.3 billion
California Health Facilities Financing Authority
UC Medical Center
Environmental Protection $1.1 billion
California Pollution Control Financing Authority
Orange County Sanitation District
Sacramento County Sanitation District
HEALTHCARE AND ENVIRONMENTAL
PROTECTION $2.4 billion
Investments in healthcare facilities, clean water and
clean air keep Californians healthy.

22. SOURCES
AM Best
American Council of Life Insurers
California 2016-17 Budget
California Department of Insurance
California Earthquake Authority
Insurance Information Institute
National Association of Insurance Commissioners
National Interagency Fire Center
Property Claims Services
SNL Financial LC
US Department of Labor, Bureau of Labor Statistics

23. #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

24. FOR MORE INFORMATION
Richard Wiebe
Pacific Crest Public Affairs
richard@pacificcrestpa.com
916.952.1730