Sat, Aug 30, 2014
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. Study shows what resonates with investors: 'Unwavering', 'passionate' beats 'committed', 'dedicated' and more surprises[more]

    Komfie Manalo, Opalesque Asia: A new study by Pershing Square, a unit of BNY Mellon company, showed that an effective value proposition strengthens audience connections and fosters growth, yet many advisors have had little objective guidance in formulating such statements until now. In the

  2. Comment – Why you should avoid the hottest hedge fund hands, Swedroe attacks Hussman over risk management, relative value strategy[more]

    Why you should avoid the hottest hedge fund hands FromCNBC/Yahoo.com: Investors who don't have money with Pershing Square Capital Management are likely salivating at the hedge fund's industry-leading 26 percent return from January through July. But investing with Bill Ackman and other to

  3. Hedge fund assets decline in July - eVestment[more]

    Bailey McCann, Opalesque New York: Total assets in hedge funds declined in July and dropped 0.49%, marking the industry's second monthly asset decline in 2014, according to the latest asset flows data from eVestment. Despite the asset decline, total industry AUM remained above the $3 trillion

  4. AIMA makes 'the case for hedge funds'[more]

    Bailey McCann, Opalesque New York: The Alternative Investment Management Association (AIMA), the global hedge fund industry body,

  5. Managed futures' global diversification is important in next phase of economic recovery[more]

    Komfie Manalo, Opalesque Asia: The global diversification provided by managed futures may prove to be extremely valuable as the markets enter the next phase of the economic recovery, said Campbell & Company, a pioneer in absolute return invest