I have certain restaurants that I like to go to because they offer familiar favorites, but also consistently feature new choices, and the service is outstanding. This mix of the old and new reminds me of our product line at Ullico, because we feature old standards like our group life insurance, and consistently offer new items like our cyber liability insurance, and our union friendly Private Exchange and Defined Contribution platforms. All of our products are delivered by a union staff that understand the importance of service to our union marketplace.
The process of constantly reviewing and reinventing ourselves to meet the ever changing needs of the market are the reason that we have never been stronger, or more valuable, to our only clients – the Labor Movement. Strength and stability are especially important in uncertain times, such as we face today. I am pleased to report that 2016 was a great year for the company, with all of our business units profitable and meeting the needs of the unions we serve.
Our J for Jobs platform continues to rebuild cities around the country, and new this year, we started a daily valuation, to allow its use in 401k and annuity plans, allowing workers an opportunity to directly invest in the vehicle that finances the projects they work on. Also this year, we received our first commission for our Builders Risk Program on a project in New York. This program, to insure union developers and owners, is designed to level the playing field in bidding projects.
A hot topic in Washington, D. C. this year is President Trump's $1 trillion planned investment in America's infrastructure. Our Ullico Infrastructure Fund had a great 2016 and is well positioned to play a role in helping to rebuild the many infrastructure needs of the Country.
The future of the Affordable Care Act has also generated a great deal of discussion about what a replacement health care system would entail, and the impact it would have on Health & Welfare funds. Our stop loss insurance has proven to be a tremendous asset in protecting plan assets under the ACA, and we expect it will continue to be a valued option going forward. And finally, the protection that is offered by our fiduciary, union liability, and labor leader liability insurance, continues to grow and provide real peace of mind to fund trustees and union leaders.
In closing, our goal is to provide you with the tools you need to be successful and grow, with a product mix that includes traditional favorites and new offerings that continue to provide solutions for the union workplace.
Edward M. Smith
President and CEO