The state Department of Insurance has sought to encourage companies to divest from Iran, which is on the U.S. State Department's list of designated terrorist-sponsoring states and continues to engage in a nuclear program.
Jones reiterated that stance in a news conference Wednesday. He does not have the legal authority to require the companies to divest from Iranian companies, but said he believes the investments are a financial risk.
"Insurance companies investing in companies doing business with the military, nuclear or energy sectors of the Iranian economy are making a risky investment," Jones said in a news release.
The eight remaining companies are listed on the department's website, http://www.insurance.ca.gov.
The total value of the insurers' Iran investments has fallen to less than $200 million from about $6 billion in 2009, the department said.
Separately, the state passed a law in 2007 requiring the California Public Employees' Retirement System, the country's largest public pension fund, and the California State Teachers' Retirement System, the second largest, to divest from Iran.