California Commissioner: Impact of COIN Investments Estimated to Reach $29B

January 3, 2019

California Insurance Commissioner Dave Jones on Thursday issued a report today detailing the progress of the California Organized Investment Network during his administration.

COIN is a program within the California Department of Insurance that sources and structures investments for insurers that are designed to be financially sound and yield positive social or environmental impact in California.

The report from Jones shows based on prior data call findings and COIN’s tracking of insurer investments that COIN investments are estimated to reach $29 billion by the end of 2018.

California Insurance Commissioner Dave Jones

These investments go to support renewable energy projects, affordable housing opportunities, health centers, economic development, jobs, and numerous other social and environmental benefits in the state.

Insurance company holdings in California community development and green investments have consistently increased, and more than tripled from $6.6 billion at the end of 2010 to $22 billion at the end of 2015 according to prior data call findings, according to Jones.

Based on the growth trends, COIN investments are estimated to reach $29 billion by the end of 2018, quadrupling from $6.6 billion in 2010 when Jones was first elected, he said.

COIN in May 2019 launched the Impact Investment Marketplace, a portal to help facilitate high impact investments in underserved communities and environmental projects in California.

The marketplace links those seeking capital for community development investments with insurers looking to make COIN qualified investments at competitive financial returns in numerous ways, including Investment Bulletins. Investment Bulletins, which are pre-qualified by COIN, help insurers to find asset classes that fit their investment portfolio. The investment is focused on providing social or environmental impact in California, with competitive financial returns for insurance company investors.

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