California Insurance Commissioner Dave Jones called on eight insurance providers to divest their holdings in companies doing business in Iran.

Noting Iran’s involvement in terrorism and its illicit nuclear program, Jones requested on Feb. 13 that the insurance companies divest their holdings from companies doing business with the Iranian energy, military, and nuclear sectors due to the high risk such investments entail.

Since the launch of the California Department of Insurance’s Iran Divestment Program, the roughly 1300 California-licensed insurers have reduced their investments in these companies from $6 billion to under $200 million, a 97 percent reduction.

The eight remaining companies with investments are State Farm Mutual Automobile Insurance Co., Connecticut General Life Insurance Co., ING USA Annuity and Life Insurance Co., The Ohio National Life Insurance Co., Ohio National Life Assurance Corp., Life Insurance Company of North America, National Guardian Life Insurance Co., and Assurity Life Insurance Co.