Motorists Mutual Insurance Company (Motorists) of Columbus, Ohio, reported it has been approved for membership at Federal Home Loan Bank of Cincinnati (FHLBank).
With $1.2 billion in assets and rated A (Excellent) by A.M. Best, Motorists is the 21st insurance company to join FHLBank and is among more than 180 insurance companies in the 12-district FHLBank system.
Membership allows Motorists to take advantage of FHLBank’s product line of financial services, including low-cost advances that can be used for liquidity management and general asset/liability management.
Motorists Mutual Insurance Company is the lead company in The Motorists Insurance Group. The group of companies is composed of nine property and casualty, life and brokerage companies. Motorists’ products are sold by a network of more than 4,000 independent agents in Ohio, Pennsylvania, West Virginia, Kentucky, Indiana and Michigan.
The FHLBank is a $98 billion congressionally-chartered wholesale regional bank providing financial services for residential housing and economic development to 728 member financial institutions located in Kentucky, Ohio and Tennessee.
Source: Motorists Mutual Insurance Co., www.motoristsgroup.com
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