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MWA: BOLI Assets Shrink

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Bank-own life insurance (BOLI) assets fell to about $122 billion March 31, down 1.6% from the total recorded a year earlier, according to Michael White Associates L.L.C.

MWA, Radnor, Pa., a bank insurance consulting firm, has published those figures in a report based on an analysis of data from 6,850 banks and federally supervised savings banks.

About 3,400 banks and savings banks reported having BOLI assets.

About $63 billion, or 52%, of the BOLI assets were in separate account life assets, MWA says. General account life assets account for about $50 billion of BOLI assets, and hybrid accounts account for the rest.

- Allison Bell

Other BOLI coverage from National Underwriter Life & Health: