Filed Under:Life Insurance, Life Planning Strategies

BOLI assets reached nearly $144B in 2013

Of all 6,812 banks and savings associations, 3,840 or 56.4 percent reported holding BOLI assets in 2013.
Of all 6,812 banks and savings associations, 3,840 or 56.4 percent reported holding BOLI assets in 2013.

Bank-owned life insurance (BOLI) assets reached nearly $143.84 billion in 2013, reflecting a 4.3 percent increase from $138 billion in BOLI assets held in 2012 by commercial banks, savings banks and savings associations, according to the 2014 edition of the Equias Alliance/Michael White Bank-Owned Life Insurance (BOLI) Holdings Report.

BOLI is used to recover costs of employee benefits and offset liabilities for retirement benefits, helping banks to keep up with ever-rising benefit costs. BOLI may be differentiated by three types of assets: separate account life insurance or SALI assets, also referred to as variable separate account life insurance assets; general account life insurance (GALI) assets; and hybrid account life insurance (HALI) assets, also referred to as hybrid separate account life insurance assets. Commercial banks and FDIC-supervised savings banks began reporting their BOLI assets by type in 2012, while savings associations began reporting them by type in 2013.

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Nichole Morford

Nichole Morford
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