BOLI gives small-bank "investment opps previously available via big banks". Targeting small regional and community banks in the U.S., Sun Life Financial has launched a new bank-owned life insurance (BOLI) product that is designed to provide low-tier banks the sort of investment opportunities normally reserved for larger institutions.

BOLI for you

"Our new Pooled Stable Value option gives our smaller-bank clients a similar capability to manage risk in their BOLI portfolios that larger banks have long employed," says Michele Van Leer, general manager of Sun Life's individual-insurance unit.

The investment products available in Sun Life's Pooled Stable Value product include a mortgage-backed securities strategy by Goldman Sachs Asset Management and a fixed-income fund managed by Sun Life's Sun Capital Advisers.

The Pooled Stable Value option, an iteration of Sun Life's "Large Case Private Placement Variable Universal Life" product, "provides consistent and stable value protection in conjunction with a choice of bank-eligible managed accounts for BOLI purchases that range from $1 million to $20 million," a statement says.

Toronto, Canada-based Sun Life offers life insurance, wealth management, and protection products in the U.S., Canada, the U.K., Ireland, Bermuda, Hong Kong, the Philippines, Japan, Indonesia, India and China. -FWR

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