TIAA is a Fortune 100 investment company. Provides pension insurance for taxpayers in education, culture and science. Assets amount: USD 1 trillion. The company’s turnover in 2015 amounted to $ 26.8 billion, of which $ 23.9 billion came from insurance premiums, $ 2.4 billion was a return on invested capital (about $ 60 billion of the company’s assets were invested in US Treasury bonds, municipal and corporate bonds). The amount of insurance payments amounted to 13.7 billion. The corporation operates through more than a thousand branches in 65 countries.
On June 24, 2011 TIAA insurance company issued an international marketing bulletin AI-11-09r (AI-11-09e – English), according to which the maximum life insurance limit was increased to $ 2 million in Russia, Kazakhstan, Ukraine, Estonia, Lithuania, Latvia and Moldova. The company made this decision based on the positive results of its activities in this market for more than 5 years (from 2006 to 2010). At the same time, the sale of life policies on the territory of Russia, practiced by representatives of this company (for example, SI Save-Invest), is illegal, since the company does not have a license for insurance in the Russian Federation.
Health Care — commercial health insurance, and participation in the government Medicare program in some regions of the United States; insurance premiums for this division in 2016 amounted to $ 54 billion, combined with other income, the division’s turnover was $ 60 billion; the ratio of insurance payments to premiums is about 82%.
Group Insurance — collective insurance of company employees (life insurance, against disability); turnover – $ 2.5 billion
Large Case Pensions — pension insurance (the division is in a state of gradual liquidation, no new contracts are being signed); turnover – $ 300 million.
The TIAA Academic Pension is a form of academic pension at US universities that is not associated with the concept of union work. Thus, if the employee’s lifetime pension is university-specific, the TIAA does not work as a participant in labor or dispute resolution departments.
Official site: https://www.tiaa.org/public/
For U.S. Toll Free: +1 (800) 842-2252