VL Assurance (Bermuda) Ltd. (Company) is a fully licensed, qualified insurance company. Incorporated and registered in Bermuda as a Segregated Accounts Company, the Company offers a wide variety of life insurance and annuity products specifically designed to meet the needs of Ultra High Net Worth (UHNW) and High Net Worth (HNW) individuals around the world.
On April 13, 2015, the Company merged with Bermuda International Insurance Services Limited (BIISL) and together with the experience earned in the past decades, we continue to expand our business by serving our client’s interest first.
Bermuda is globally recognised as the premiere international jurisdiction for life insurance and annuity products. Bermuda has a long-respected tradition of maintaining client confidentiality and enjoys well-established legal, accounting, banking, and trust services. These factors, combined with Bermuda’s stable government, neutral taxation and strict regulatory and compliance environment make Bermuda the ideal location for international clients to purchase sophisticated life insurance and annuity products that preserve, increase and transfer personal wealth and closely held businesses from one generation to the next.
VL Assurance Inc. (Company) is a fully licenced, qualified Barbados Insurance Company. The Company offers a variety of life insurance and annuity products offering multiple investment options designed to provide maximum flexibility under applicable laws and to be compliant in the home country, including the United States, of the Owner for qualified purchasers. In addition, the Company will structure and design investment funds and insurance dedicated funds in collaboration with our investment and banking partners.
The Company’s private placement life insurance and variable annuity products allow clients access to investments and specialized funds that would not be typically available to purchasers of life insurance from domestic carriers, while providing much greater transparency with respect to fees and costs associated with these products.
VL Assurance Inc. is a Barbados domiciled qualified Insurance Company that has made a 953d election to be taxed as a U.S. corporation. A 953(d) carrier is effectively a U.S. taxpayer regulated in Barbados and subject to Barbados regulatory oversight. This means the Company is able to access Barbados tax treaties, operate under Barbados solvency rules and access investments without limitation globally.
The 953(d) election allows the Company to make U.S. investments without being subject to the commensurate 30% withholding taxes on U.S. source dividend income a typical foreign carrier (or person) would be subject to.
The 953(d) election also mitigates tax on U.S. royalty income and can make U.S. real estate investments. This is very favourable for U.S. persons with active real estate portfolios and for foreign nationals who would like to make U.S. real estate investments or other investments that would generate high dividend cash flows. A 953(d) carrier allows non-U.S. persons to make US investments tax-free; this includes no withholding tax.