Your Key to Reliable Liquidity
Insurance companies play a key role within the U.S. housing market. The Federal Home Loan Bank of New York (FHLBNY) promotes housing and economic development by providing low-cost, flexible liquidity to member financial institutions. This closely aligns with our insurance company members’ significant investments and participation in the mortgage market along with their economic development initiatives. Our insurance company members count on us to be a reliable and stable source of liquidity in any market condition.
Membership and advances by insurance companies have increased exponentially as more and more realize the integral role the FHLBNY plays to insurers looking to converge liquidity and working capital needs (as shown in the chart below). Overall, the Federal Home Loan Bank System (FHLBanks) has over 570 insurance company members, while the percentage of all FHLBanks borrowings by insurance companies has more than tripled between 2007 and 2023.
Insurance companies typically capitalize on their membership to satisfy contingent and strategic funding needs, in addition to financing capital, acquisition costs, and new facilities. This enables them to manage their liquidity positions and obtain affordable financing to support lending, investing, daily operations and grow their business in order to support the housing markets and the communities they serve.
Since the FHLBNY is structured as a cooperative, our members are shareholders. Paid from 2022 income, we returned $310.6 million in dividends to our members for a full-year dividend rate of 6.13%. This high performance is a testament to our dedication to provide value to our members.
FHLBNY Insurance Company Members
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|AIG Insurance Company – Puerto Rico
|New York Life Insurance Company
|American Home Assurance Company
|Prudential Insurance Company of America
|Ameritas Life Insurance Corp. of New York
|SBLI USA Life Insurance Company, Inc.
|Build America Mutual Assurance Company
|SCOR Reinsurance Company
|Chubb Insurance Company of Puerto Rico
|Security Mutual Life Insurance Company of New York
|Cooperativa de Seguros Múltiples de Puerto Rico
|Selective Insurance Company of America
|Cumberland Mutual Fire Insurance Company
|Selective Insurance Company of New York
|Empire HealthChoice Assurance, Inc.
|Spinnaker Insurance Company
|Equitable Financial Life Insurance Company
|Sterling Insurance Company
|Everest Reinsurance Company
|Stratford Insurance Company
|Excellus Health Plan, Inc.
|Teachers Insurance and Annuity Association of America
|Genworth Life Insurance Company of New York
|The United States Life Insurance Company in the City of New York
|Gerber Life Insurance Company
|Trans-Oceanic Life Insurance Company
|Guardian Life Insurance Company of America
|Transamerica Financial Life Insurance Company
|Horizon Healthcare of New Jersey, Inc.
|Transatlantic Reinsurance Company
|Horizon Healthcare Services, Inc.
|Triple-S Advantage, Inc.
|Kingstone Insurance Company
|Triple-S Salud, Inc.
|Lincoln Life & Annuity Company of New York
|Triple-S Vida, Inc.
|MAPFRE PRAICO Insurance Company
|Tudor Insurance Company
|Merchants Mutual Insurance Company
|United Surety and Indemnity Company
|Metropolitan Life Insurance Company
|Universal Insurance Company
|Metropolitan Tower Life Insurance Company
|Utica Mutual Insurance Company
|MONY Life Insurance Company
|Western World Insurance Company
|New Jersey Manufacturers Insurance Company
Benefits of Partnering with the FHLBNY
Flexible Funding Source
Membership at the FHLBNY affords insurance companies access to a wide range of liquidity tools through the use of our various credit products called “advances.”
Members can gain access to low-cost, wholesale funding for financial flexibility and backup liquidity to help meet unexpected cash flow needs and manage risk and profitability.
How are Insurance Companies Taking Advantage of Membership?
They typically use membership to fulfill the following needs:
- Contingent and strategic liquidity
- Match funding or pool funding
- Asset and liability management
We also offer exclusive resources to our members for beneficial insight and education
Membership Eligibility Requirements
In order to be eligible for membership, your company should be:
Worksheets are available here to help you determine membership eligibility and calculate the initial FHLBNY membership stock amount. These tools are also provided above under Related Links.
VP, Member Relations and Senior Business Development Officer
You have a vision for your financial future.
Our partnership can play a key role to help get you there.
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