Saving Bank Life Insurance

Saving Bank Life Insurance

Saving Bank Life Insurance was founded in 1907 by Louis Brandeis as a mutual life insurer. The company sells life insurance and annuity products to individuals across the United States from its headquarters in Woburn, Massachusetts. The firm deploys capital across corporate and municipal bonds, US Treasuries, government agency securities, and policy loans. It also holds direct positions in affordable housing developments through joint ventures that use Low-Income Housing Tax Credits. Confirmed holdings include Hearth at Four Corners, Talbot Commons, Walando Homes, and Bancroft Dixwell Apartments, all located in the Boston area. Geographic activity centers on Massachusetts with additional exposure across the United States through its fixed-income portfolio. Assets under management stand at $3.5B. The firm maintains two Vermont-domiciled reinsurance subsidiaries, SBLI VT Re, LLC and SBLI Re, LLC, both wholly owned. It employs service providers including PwC as auditor and Swiss Re and Munich Re for reinsurance. In May 2024 the company held its annual meeting in Woburn to review performance and strategy. SBLI operates as a mutual insurer owned by its policyholders rather than external shareholders. This structure directs surplus toward policyholder benefits and community initiatives through its charitable arm focused on Massachusetts housing and health programs.