WASHINGTON – The American Council of Life Insurers (ACLI) today unveiled “360 Community Capital” as the name of its new nonprofit investment partnership initiative.
“America’s life insurance industry is coming together to do even more to help address the pressing need of affordable housing,” said Susan K. Neely, ACLI President & CEO.
“The name of our nonprofit reflects its mission,” she said. “’360’ conveys our holistic approach to what communities and households need to thrive, ‘Community’ invites the partnerships essential to this work, and ‘Capital’ conveys the weight of the industry with the long-term financial investments we make in order to meet long-term commitments to policyholders.”
360 Community Capital is designed to be a force multiplier bringing capital from the life insurance sector to affordable housing in underserved communities through partnerships with nonprofit and public community development organizations. Click here to learn more.
Already, life insurers have invested nearly $6 billion in municipal affordable housing bonds.
Neely said affordable housing is key to healthy communities – for individuals, families, education, employment, social justice, and local tax bases. “Sustainable solutions are needed for stability and upward mobility for all Americans.”
The following 39 ACLI member companies are Founding Partners of 360 Community Capital:
New York Life
Pan-American life Insurance Company
The American Council of Life Insurers (ACLI) is the leading trade association driving public policy and advocacy on behalf of the life insurance industry. 90 million American families rely on the life insurance industry for financial protection and retirement security. ACLI’s member companies are dedicated to protecting consumers’ financial wellbeing through life insurance, annuities, retirement plans, long-term care insurance, disability income insurance, reinsurance, and dental, vision and other supplemental benefits. ACLI’s 280 member companies represent 94 percent of industry assets in the United States.