With the presence of many insurance and financial giants in the state, Iowa is widely regarded as a major center for the insurance and financial services industry. Nearly 6,500 firms and 94,000 employees are at work in this sector.

Iowa’s insurance industry output as a percent of gross state product now ranks third among the 50 states. 

For decades, state government has been committed to policy that creates favourable conditions for both existing companies and those taking a look at what the state has to offer. The result of those efforts has been progressive, pro-business legislation.

• In recent years, Iowa has lowered its insurance premium tax by half, to just 1 percent, one of the lowest rates in the nation.
• Iowa does not charge premium taxes on sales of annuities or qualified life insurance plans.
• Iowa does not assess any additional surtaxes or income taxes on insurance carriers.
• Iowa’s New Jobs and Training Program provides funding for various costs associated with new worker training and education.
• Iowa is acknowledged as a leader in insurance regulation. The Iowa Insurance Division has earned a reputation for oversight that is efficient, responsive and fair.
   

The Principal Financial Group, Wells Fargo, Nationwide, Prudential, ING, MetLife, AEGON, Marsh and many others are part of the financial services industry in Iowa.

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