Featured Jobs


Associate Attorney - Tax (Honolulu HI)

Free Daily News and Jobs

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Get the BenefitsLink app LinkedIn
Twitter
Facebook

By Date   |   By Company Name


View More Press Releases by Meyer-Chatfield

Press release:

2Q BOLI Assets Up and Trending Toward Hybrid Accounts

Issued by: Meyer-Chatfield

Date: Oct. 24, 2011

Michael White/Meyer-Chatfield Report
2Q BOLI Assets Up and Trending Toward Hybrid Accounts

Radnor, PA, and Jenkintown, PA, October 24, 2011 - Separate account life insurance (SALI) assets constituted the majority ($62.94 billion or 51.4%) of total bank-owned life insurance (BOLI) assets in the first half of 2011, according to the Michael White/Meyer-Chatfield Bank- Owned Life Insurance (BOLI) Holdings Report.  Among the biggest banks, those over $10 billion in assets, SALI assets of $58.23 billion constituted even more of their BOLI assets of $98.61 billion, reaching nearly $3 of every $5 (59.1%) of total BOLI assets.

BOLI is used to recover costs of employee benefits and offset the liabilities of retirement benefits, helping banks to keep up with the rising benefit costs. Information about separate account life insurance (SALI) assets, general account life insurance (GALI) assets and hybrid account life insurance (HALI) assets held by commercial banks and FDIC-supervised savings banks became available for the first time at the end of first half 2011. Savings associations, i.e., thrifts, consolidate these types of BOLI assets when reporting.

Compiled by Michael White Associates, LLC (MWA) and sponsored by Meyer-Chatfield, the Michael White/Meyer-Chatfield BOLI Holdings Report measures and benchmarks the cash surrender values of life insurance and ratios of CSV to capital possessed by banks and bank holding companies (BHCs). The data here were reported by 6,805 commercial banks and FDIC-supervised savings banks operating on June 30, 2011.

For more information: http://www.bankinsurance.com/about/press-releases/2011-10-24-PR-BOLI-HR-2011-2Q.pdf

View More Press Releases by Meyer-Chatfield


This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

© 2019 BenefitsLink.com, Inc.