Mon, Jun 25, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Philadelphia Financial launches international private placement life insurance and annuity business

Friday, August 24, 2012

amb
Ken Kilbane
Bailey McCann, Opalesque New York:

Philadelphia Financial, a US-provider of private placement life insurance for high net worth individuals has announced that it is adding an international operation through the launch of a new Bermuda office. This launch follows a recent July transaction in which the firm acquired the private placement insurance unit of Hartford Financial Services Group, Inc.

The company has established two Bermuda domiciled life insurance companies – Philadelphia Financial Life Assurance Company (Bermuda), Ltd. and Philadelphia Financial Life International, Ltd. Both companies are wholly owned subsidiaries of Philadelphia Financial Group, Inc. The launch supports the company’s strategy of growth through acquisition, and building both U.S. and international distribution.

"The establishment of these two companies positions our firm as a single source of private placement solutions to distributors, wealth advisors, law firms, accounting firms, trust companies and alternative investment managers serving global high net worth clients. Philadelphia Financial now has the ability to offer solutions from both our U.S. domiciled carriers as well as through our Bermuda domiciled carriers," said Ken Kilbane, President, Philadelphia Financial Life Assurance Company (Bermuda), Ltd. and Philadelphia Financial Life International, Ltd in an interview with Opalesque. Private placement life insurance has long been a part of high net worth estate plannin......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. North America - US fundraising for special purpose acquisition vehicles hits record this year[more]

    From AFR.com: Special purpose acquisition vehicles (spacs) are hitting the US market at the fastest rate on record, attracting the likes of Goldman Sachs and hedge fund investor Daniel Loeb for the two largest such deals in 2018. Spacs have raised $US4.5bn so far in 2018, the largest amount fo

  2. Investing - Man Group and AQR try to take aim at private equity industry, Hedge funds poised to be winners in AT&T-Time Warner deal[more]

    Man Group and AQR try to take aim at private equity industry From FT.com: The popularity of private equity investments has prompted asset managers such as Man Group and AQR to devise strategies that aim to replicate PE returns but at a much lower cost to investors. Both companies a

  3. News Briefs: David Stemerman's hedge fund holdings shrank before his run for governor, nvestment manager TSW triggers succession plan, Alan Howard joins Peter Thiel investing in Cologne-based fintech startup[more]

    David Stemerman's hedge fund holdings shrank before his run for governor But the U.S. holdings of Stemerman's Greenwich hedge fund, Conatus Capital, shrank from $2.6 billion at the apex to just over $1 billion before he announced his move into politics. (Hartford Courant) Inv

  4. British Empire: Pershing's 23% discount 'unsustainable'[more]

    From Citywire: The wide discount on Pershing Square Holdings (PSH) is 'unsustainable' and puts star hedge fund manager Bill Ackman under pressure, says British Empire (BTEM). Pershing is the third largest holding in the £850 million British Empire trust, managed by Joe Bauernfreund, which sp

  5. CalPERS defines new private equity policy with more direct investments[more]

    Dr. Ashby Monk, the executive director of the Stanford Global Projects Center and one of the world's leading experts on design and governance for institutional investors, told the CalPERS Investment Committee: "Private equity is a tough business for funds - in large part because you need it