The insurance industry is reaping the benefit of the growing use of the Federal Home Loan Bank System as a funding source, according to a recent report from Moody’s Investors Service.Total membership in the FHLBs nearly doubled between 2005 and 2014 and advances rose around fivefold, said Moody’s. Growth will remain driven primarily by the life insurers. But with the FHLBs continuing to expand their lending to the sector, the ratings service said the underpenetrated property and casualty sector is likely to experience a large increase. Moody’s views insurers’ access to the Federal Home Loan Banks as a credit positive for insurers and said it provides an alternative source of funding for operational or liquidity emergencies.