IMPACT FACTS: Life Insurers’ Expertise at Managing Risk Fuels Group Annuities Growth
Dec 19, 2025
Insurance Investments Fuel Economic Growth Throughout Washington State
Dec 18, 2025
The State of Washington Tourism website says that “All paths lead to discovery.”
Many of those paths are linked to the life insurance industry.
Imagine a couple driving up I-5 from Portland to Seattle to stay with a friend while attending Sakura Con, a convention for anime lovers. Chances are they passed some forest land owned by Weyerhaeuser, which holds approximately 2.5 million acres of forests in Oregon and Washington. Life insurers own nearly $1.3 billion in Weyerhaeuser corporate bonds, nearly 25% of the total.
They also passed by the Museum of Flight just south of Seattle, where the first flight-worthy Boeing 747 is on display. Boeing was founded in Seattle and Washington is home to more Boeing employees than anywhere else in the world. Life insurers own nearly $6 billion in Boeing corporate bonds, 12% of the total.
Before arriving at their friend’s place in downtown Seattle, they stopped by Nordstrom’s flagship store to buy them a thank you gift. Life insurers own nearly $244 million or almost 21% of Nordstrom’s corporate debt.
The next morning, they went to a Starbucks on their way to the Seattle Convention Center. Life insurers own more than $2.8 billion in Starbucks corporate bonds, 18% of the total. They also own more than $117 million in bonds issued by the Convention Center.
While attending Sakura Con, they heard about an early-evening concert at the University of Washington. Life insurers own more than $300 million in bonds issued by UW. They pulled out their phones and used their T-Mobile connection ($7.1 billion in T-Mobile bonds owned by life insurers) to access Microsoft Edge ($5.7 billion in Microsoft bonds owned by life insurers) and confirm the time and location of the show.
They left the Convention Center and walked a few blocks to Westlake Station, where they caught the Sound Transit light rail line to the UW campus. The light rail line is run by the Central Puget Sound Regional Transit Authority. Life insurers own more than $159 million of the Transit Authority’s bonds.
After the concert, they went back to their friend’s place and logged into Amazon Prime to watch an anime movie. Life insurers own $8.4 billion in Amazon corporate debt, nearly 13% of the total.
Not surprisingly, it stormed during their stay in Seattle. But the lights in their friend’s place never even flickered, thanks in part to life insurers, which invest more than $1.5 billion in bonds issued by Washington utility companies.
Largely behind the scenes, life insurers have invested $190 billion in all corners of the state.
Nearly 111 million visitors spent more than $25 billion in Washington state last year. Chances are no matter where they went in the Evergreen State, the economic impact of the life insurance industry could be felt.
Andrew Melnyk
Andrew Melnyk is Vice President, Research and Chief Economist at the American Council of Life Insurers (ACLI). He holds a doctorate in economics and is a Certified Business Economist. His functions at ACLI include authoring white papers; managing the production of statistical publications; and managing ACLI’s Research Department. Prior to joining ACLI in 2005, he held positions in academia, government, and the private sector, both in the U.S. and abroad.
