Insurance and financial services firms engage in financial transactions and create, liquidate, purchase, and sell financial assets such as securities, bonds and insurance. Major financial and insurance products and services include loans, financial services, investment advice, insurance products, transactions processing, trading financial instruments and asset management.
According to Hoovers First Research, the US finance and insurance sector consists of about 475,000 establishments with combined annual revenues of more than $3 trillion. Key growth drivers include an increase in business activity and consumer income. Insurance carriers account for about 45 percent of sector revenue, banks and credit unions for about 20 percent, and securities firms for 15 percent.
Insurance and financial services build on an existing industry base already found in the City of Scottsdale. In general, they offer higher value/higher paying activities than standard back office operations. Insurance and financial services industries have experienced strong growth in the region and the national projections for future growth in both employment and output are above average.
- Impressive visitor location for clients and business transactions
- Low relative cost of labor with high number of executive, administrative and managerial workers
- Strong dependability of energy supply with no major natural disasters
- Direct flight access for clients and corporate executives via the Scottsdale Airport, with seven day per week on site U.S. Customs service
- Available corporate office space
- No corporate franchise tax
- Low workman’s comp & unemployment insurance costs
The City of Scottsdale is honored to be home to a number of significant financial firms, and attracts new ones regularly, such as the recent western expansion of Stonegate Mortgage into the community, creating 100 new jobs in the next 36 months.
A wholly owned subsidiary of Nationwide®, Scottsdale Insurance Company® benefits from the backing of one of the largest insurance and financial service providers in the United States, an A.M. Best rating of A+XV (superior), and a Standard & Poor’s “A” rating. As an industry leader with impeccable financial strength and stability, Scottsdale Insurance Company® provides its customers with exceptional experiences based on mutual respect and trust.
An investment management firm with more than 2,100 employees in Scottsdale, Vanguard it is one of the largest investment management companies in the world. The company offers more than 160 index and actively managed funds to U.S. investors and more than 80 additional funds in non-U.S. markets.
|Scottsdale Insurance Company||Headquarters||1,800||Fire, marine, and casualty insurance|
|Quicken Loans||Branch||850||Online Loans|
|PayPal||Branch||350||Online payment systems|
|Nautilus Insurance||Headquarters||220||Fire, Marine, and casualty insurance|
|Troon Golf||Headquarters||135||Management services|
|CNA National Warranty Corporation||Single Location||115||Insurance agents|
|Sagicor Life Insurance Company||Headquarters||100||Life insurance|
|On Q Financial, Inc.||Single Location||100||Investment advice|
Source: Hoovers.com, July 2016 and MAG 2015 Employer Database
It’s important to know Vanguard has been here for more than 17 years now and has a strong commitment to the area. With the additional building opening here, it will hold upward of 700 people. Our presence in Scottsdale continues to grow.Deborah Akinsipe, Vanguard’s director of human resources in Arizona