VL Assurance (Bermuda) Ltd. (Company) is a Bermuda-exempted life insurance company registered and licensed as a Class C Long-Term insurer under the Bermuda Insurance Act 1978 and incorporated pursuant to the Bermuda Companies Act 1981 on February 26, 2015. The Company is registered as a segregated accounts company under the Segregated Accounts Companies Act 2000, as amended. VL Assurance (Bermuda) Ltd received assent on August 5, 2015, from the Governor of Bermuda for the VL Assurance (Bermuda) Ltd Private Act.
On April 13, 2015, the Company merged with Bermuda International Insurance Services Limited (BIISL) and BIISL traces its roots back to 2005.
The Insurance Manager and Insurance Agent for VL Assurance (Bermuda) Ltd is Valor Management Ltd.
VL Assurance Inc. (Company) is a Barbados Insurance Company. The Company offers a variety of life insurance 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 can structure and design investment funds and insurance dedicated funds in collaboration with our investment and banking partners.
The Company’s private placement life insurance 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.