Bank-owned life insurance assets increased 0.6% in 2009, to about $135 billion, according to Michael White Associates L.L.C.
Michael White looked at data from 916 bank holding companies with assets greater than $500 million, along with data from 8,012 commercial banks, savings banks and savings associations that are regulated by the Federal Deposit Insurance Corp. or by the Office of Thrift Supervision.
Among the firm’s key findings:
- BOLI holdings increased 0.9% at the BHCs and 2.4 at banks without BHCs.
- BOLI holdings fell 5% at savings associations.