BOLI assets reached nearly $144B in 2013
April 10, 2014 by Warren S. Hersch
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.
