JPMorgan Chase Bank owns about $2.5 billion in bank‑owned life insurance (BOLI) policies, a figure reported in its most recent public filings and typical for a bank of its size.
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What is Bank‑Owned Life Insurance?
BOLI is a type of whole life insurance purchased by banks on the lives of key employees. The cash value grows tax‑deferred and can offset the cost of employee benefits, while the death benefit helps cover the bank's obligations.
JPMorgan Chase's BOLI Portfolio
The $2.5 billion valuation combines the cash‑value reserves and the death‑benefit exposure disclosed in the bank's annual 10‑K report. The amount fluctuates with new purchases, policy maturities, and changes in the underlying cash value.
How It Compares to Peers
| Bank | BOLI Holdings | Notes |
|---|---|---|
| JPMorgan Chase | ~$2.5 billion | Largest U.S. bank, diversified portfolio |
| Bank of America | ~$2.0 billion | Similar employee‑benefit strategy |
| Wells Fargo | ~$1.8 billion | Focus on legacy policies |
Why the Figure Matters
Regulators monitor BOLI levels because excessive exposure can affect a bank's capital ratios. JPMorgan's holdings sit comfortably within the industry‑wide risk limits, supporting its strong capital position.