As the Financial Services Fact Book, a partnership between the Insurance Information Institute and The Financial Services Roundtable, expands each year, we increasingly see how broadly the financial services industry impacts people’s lives, from making it possible for more people to buy homes through the creation of an ever broader array of mortgage options to the development of products designed to improve the quality of older people’s lives such as long term care insurance.

In this our fifth edition, there are new charts on the following:

  • Banks’ financial literacy programs to help consumers improve personal finance skills
  • Transfer mechanisms for remittances — money immigrants send to their families overseas
  • Government-sponsored enterprises such as Fannie Mae
  • Interest-only and reverse mortgages
  • Long-term care insurance and medical savings accounts
  • Defined benefit plan formulas, including cash balance plans
  • Online payments
  • Hedge funds

In addition, we have added new information on thrifts owned by insurance companies, title insurance, identity theft, credit cards, consumer debt and the Pension Benefits Guaranty Corporation.

This endeavor could not succeed without the help of many organizations, consultants and others who collect industry data and who have generously given permission to use their data in this book. However, the bulk of the work involved in collecting, integrating and interpreting the material was done by the Insurance Information Institute, which accepts editorial responsibility for the book.

The Financial Services Roundtable and the Insurance Information Institute actively seek your advice, comments and suggestions for next year’s edition.

Gordon Stewart,
Insurance Information Institute

Steve Bartlett,
President and Chief Executive Officer
The Financial Services Roundtable