The low-income housing tax credit (“LIHTC”) market has seen a surge in investments by insurance companies over the last year. The increased interest began in the fourth quarter of 2009 when yields on new LIHTC funds started to rise significantly, exceeding 10% after tax. Some market insiders estimate investment commitments by insurance companies topping $1 billion in 2010 compared to a volume of $100 million in 2009. The increase in LIHTC investment activity by insurance companies is likely linked to increased profits and greater need for tax shelter, combined with self-imposed moral obligations to social investing.