The Bahamas has been a major player in international financial services since the 1930s. With its historic commitment to providing high quality services to families that span the globe, The Bahamas is one of the world’s foremost wealth management centres. It services a global client base with a full range of private banking, estate planning, asset management, and insurance and fund administration services.
Life insurance solutions are excellent wealth management instruments both for estate and succession planning as well as asset protection. Private Placement Life Insurance combines the security and protection of a life insurance policy with the asset management flexibility of private banking.
A strong investor protection regime
The Bahamas insurance regulation provides for one of the strongest investor protection regimes, with segregated accounts for the safekeeping of clients’ assets and restrictions on policy proceeds being paid exclusively in accordance with the designated wishes of the policyholder exempting them from any creditor claims. The assets held in a segregated account will not form any part of the liability of the insurance company.