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 to the right). Overall, the Federal Home Loan Bank System (FHLBanks) has over 400 insurance company members, while the percentage of all FHLBanks borrowings by insurance companies has more than quadrupled between 2007 and 2019.
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 2019 income, we returned $352.5 million in dividends to our members for a full-year dividend rate of 6.35%. This high performance is a testament to our dedication to provide value to our members.
FHLBNY Insurance Company Members
Show Members List
|American Home Assurance Company||New York Life Insurance Company|
|Ameritas Life Insurance Corp. of New York||Prudential Insurance Company of America|
|Build America Mutual Assurance Company||SBLI USA Life Insurance Company, Inc.|
|Cooperativa de Seguros Múltiples de Puerto Rico||SCOR Reinsurance Company|
|Cumberland Mutual Fire Insurance Company||Security Mutual Life Insurance Company of New York|
|Empire HealthChoice Assurance, Inc.||Selective Insurance Company of America|
|Equitable Financial Life Insurance Company||Selective Insurance Company of New York|
|Everest Reinsurance Company||Spinnaker Insurance Company|
|Excellus Health Plan, Inc.||Sterling Insurance Company|
|Genworth Life Insurance Company of New York||Stratford Insurance Company|
|Gerber Life Insurance Company||Teachers Insurance and Annuity Association of America|
|Guardian Life Insurance Company of America||The United States Life Insurance Company in the City of New York|
|Horizon Healthcare of New Jersey, Inc.||Trans-Oceanic Life Insurance Company|
|Horizon Healthcare Services, Inc.||Transamerica Financial Life Insurance Company|
|Kingstone Insurance Company||Transatlantic Reinsurance Company|
|Lincoln Life & Annuity Company of New York||Triple-S Salud, Inc.|
|MAPFRE PRAICO Insurance Company||Triple-S Vida, Inc.|
|Merchants Mutual Insurance Company||Tudor Insurance 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|
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 will be:
This worksheet will help calculate:
Tools to Help you Determine Eligibility
Contact a dedicated Relationship Manager that will help determine
your insurance company’s membership needs (212) 441-6700
VP, Member Relations and 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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