The Protective Life Insurance Company has been approved for membership at the Federal Home Loan Bank of Cincinnati.
The membership allows Protective Life to take advantage of Home Loan Bank of Cincinnati (FHLBank) product line of financial services, including advances that can be used for liquidity management, funding agreements and general asset/liability management.
David Hehman, CEO of FHLBank, said: Membership offers Protective Life an excellent source of reliable, low-cost wholesale credit that provides efficient alternatives for managing liquidity, expanded product offerings, interest rate risk mitigation and overall asset/liability management.
Richard Bielen, vice chairman and CFO of Protective Life, added: Membership in the Federal Home Loan Bank expands our portfolio of liquidity sources and will help us continue to efficiently manage our balance sheet.