Crown Global Introduces Additional U.S. Compliant Life Insurance Solution for High Net Worth and Institutional Investors
New Offering Empowers Crown Global’s Approved Insurance Brokers
NEW YORK - November 29, 2016 - Today Crown Global Insurance Company of America (“CGICA”), a Delaware-based Member of Crown Global Insurance Group, LLC (“Crown Global” or the “Company”), announced the introduction of new tax-efficient and transparent private placement life insurance policies available for high net worth and institutional investors. These additions complement the highly successful PPLI and PPVA offerings available through the Company’s Bermuda-domiciled subsidiaries, and CGICA’s PPVA offerings already available in Delaware. CGICA’s products are accessible through licensed insurance distribution partners.
On May 5, 2016, Delaware’s Governor signed House Bill 237 into law, significantly lowering the premium tax rate for trust-owned, private placement life insurance covering the life of an individual. The new law lowers the premium tax rate to 2% for the first $100,000 in net premiums, and 0.0% on net premiums over $100,000. This change has resulted in Delaware now having the lowest premium tax rate on privately placed, trust-owned life insurance in the U.S.
“This recent change in Delaware’s tax law enables Crown Global’s growing network of insurance producer partners to offer superior U.S.-compliant solutions with greater efficiency to sophisticated high net worth and institutional investors,” said Perry Lerner, Crown Global’s Chairman and CEO.
The benefits of CGICA’s PPLI policy include efficient access to liquidity, flexible premium contributions, access to a wide range of alternative investments, wealth and estate planning flexibility and simplified accounting.
About Crown Global
Crown Global, through its operating subsidiaries, provides efficient investment-enhancement strategies and products for institutional investors, investment managers and ultra-high net worth individuals. The Company’s issuing insurance companies offer custom solutions that enable managers and investors to enhance their returns from investments in alternative assets and managed accounts. Crown Global operates globally and maintains offices in North America, Switzerland and the Cayman Islands. Since its founding in 1998, Crown Global has established a solid track record of issuing U.S. and non U.S. compliant private placement variable life insurance and annuity policies for institutional and ultra-high net worth clients.
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