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November 03, 2010 at 08:00 PM
The U.S. bank-owned life insurance asset total increased to about $138 billion in the first half, up 3.3% from the BOLI total for the first half of 2009, according to Michael White Associates L.L.C. (MWA).
Michael White, Radnor, Pa., has included BOLI assets held by large 930 large bank holding companies (BHCs) and 7,830 stand-alone banks, thrifts and Federal Deposit Insurance Corp.-supervised savings banks.
Banks use BOLI to help pay for employee benefits and offset retirement benefits liabilities.
MWA found:
