Latest news with #PPLI
Miami Herald
7 hours ago
- Business
- Miami Herald
Alpha Growth PLC - Providence Life Granted Isle of Man Branch License
Providence Life Receives Isle of Man Branch License LONDON, UK / ACCESS Newswire / June 20, 2025 / Alpha Growth plc, ( a leading global financial services specialist in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management is pleased to announce that one of its group companies, Providence Life Assurance Company (Bermuda) Limited ("Providence Life Assurance"), a leading provider of bespoke life insurance solutions for ultra-high net worth ("UHNW") individuals and family offices, has been granted a branch license in the Isle of Man. The new branch, operating under the name Alpha PPLI will cater to the sophisticated wealth planning needs of clients across the UK, Europe, Middle East and Asia. The Isle of Man Financial Services Authority issued the permit to Providence Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008, authorizing the company to conduct both Class 1 and Class 2 insurance business with immediate effect. Alpha PPLI builds upon Providence Life Assurance's established expertise in Private Placement Life Insurance ("PPLI") and Private Placement Variable Annuities ("PPVA"), offering tailored solutions designed to address the complex financial and succession planning requirements of UHNW individuals and family offices. The branch aims to provide a full suite of customized insurance structures, supported by a team with decades of collective industry experience and backed by the financial strength of parent company Alpha Growth plc. Alpha PPLI is lead by its Chief Executive Julian Melling and Business Development Executive Richard Turnbull, both based in the Isle of Man with significant recognized experience in the high net worth life insurance industry. "Our expansion into the Isle of Man through Alpha PPLI marks a significant milestone in Providence Life Assurance's growth strategy. This new branch enhances our ability to deliver world-class, flexible insurance solutions to discerning clients in key international markets," said Gobind Sahney, Chairman & CEO of Alpha Growth plc and Providence Life Assurance. "After many years in this industry, I am pleased to lead the strategic expansion of Providence Life Assurance's international business. This marks a pivotal moment for UHNW life insurance, opening up an exciting future for Providence Life Assurance and the Alpha Growth group of companies, as we enhance our ability to serve the sophisticated needs of UHNW clients and family offices across key international markets." said Julian Melling, jm@ Chief Executive of Alpha PPLI. Providence Life Assurance is renowned for its independent, client-focused approach, delivering best-in-class service and innovative insurance products. The launch of Alpha PPLI in the Isle of Man underscores the company's commitment to supporting the wealth management objectives of UHNW clients and family offices in the UK, Europe, and Asia. About Providence Life Assurance Company (Bermuda) Limited: Providence Life Assurance specializes in providing customized life insurance products, including PPLI and PPVA, to ultra-high net worth individuals and institutions. The company operates under the regulatory oversight of the Bermuda Monetary Authority and is part of Alpha Growth plc, a global leader in insurance-linked wealth management. About Alpha Growth plc Specialist in Life Insurance, Esoteric and Longevity Assets Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management. Building on its well-established network, the Alpha Growth group has a unique position in the insurance and asset services and investment business with global reach. ***END*** This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Alpha Growth PLC
Associated Press
11 hours ago
- Business
- Associated Press
Alpha Growth PLC - Providence Life Granted Isle of Man Branch License
Providence Life Receives Isle of Man Branch License LONDON, UK / ACCESS Newswire / June 20, 2025 / Alpha Growth plc, ( ) a leading global financial services specialist in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management is pleased to announce that one of its group companies, Providence Life Assurance Company (Bermuda) Limited ('Providence Life Assurance'), a leading provider of bespoke life insurance solutions for ultra-high net worth ('UHNW') individuals and family offices, has been granted a branch license in the Isle of Man. The new branch, operating under the name Alpha PPLI will cater to the sophisticated wealth planning needs of clients across the UK, Europe, Middle East and Asia. The Isle of Man Financial Services Authority issued the permit to Providence Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008, authorizing the company to conduct both Class 1 and Class 2 insurance business with immediate effect. Alpha PPLI builds upon Providence Life Assurance's established expertise in Private Placement Life Insurance ('PPLI') and Private Placement Variable Annuities ('PPVA'), offering tailored solutions designed to address the complex financial and succession planning requirements of UHNW individuals and family offices. The branch aims to provide a full suite of customized insurance structures, supported by a team with decades of collective industry experience and backed by the financial strength of parent company Alpha Growth plc. Alpha PPLI is lead by its Chief Executive Julian Melling and Business Development Executive Richard Turnbull, both based in the Isle of Man with significant recognized experience in the high net worth life insurance industry. 'Our expansion into the Isle of Man through Alpha PPLI marks a significant milestone in Providence Life Assurance's growth strategy. This new branch enhances our ability to deliver world-class, flexible insurance solutions to discerning clients in key international markets,' said Gobind Sahney, Chairman & CEO of Alpha Growth plc and Providence Life Assurance. 'After many years in this industry, I am pleased to lead the strategic expansion of Providence Life Assurance's international business. This marks a pivotal moment for UHNW life insurance, opening up an exciting future for Providence Life Assurance and the Alpha Growth group of companies, as we enhance our ability to serve the sophisticated needs of UHNW clients and family offices across key international markets.' said Julian Melling, [email protected] Chief Executive of Alpha PPLI. Providence Life Assurance is renowned for its independent, client-focused approach, delivering best-in-class service and innovative insurance products. The launch of Alpha PPLI in the Isle of Man underscores the company's commitment to supporting the wealth management objectives of UHNW clients and family offices in the UK, Europe, and Asia. About Providence Life Assurance Company (Bermuda) Limited: Providence Life Assurance specializes in providing customized life insurance products, including PPLI and PPVA, to ultra-high net worth individuals and institutions. The company operates under the regulatory oversight of the Bermuda Monetary Authority and is part of Alpha Growth plc, a global leader in insurance-linked wealth management. About Alpha Growth plc Specialist in Life Insurance, Esoteric and Longevity Assets Alpha Growth plc is a financial advisory business providing specialist consultancy, advisory, and supplementary services to institutional and qualified investors globally in the multi-billion dollar market of longevity assets and insurance linked asset and wealth management. Building on its well-established network, the Alpha Growth group has a unique position in the insurance and asset services and investment business with global reach. ***END*** This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit SOURCE: Alpha Growth PLC press release
Forbes
02-05-2025
- Business
- Forbes
Unlocking Wealth With SMAs Inside PPLI: Your Guide To Tax-Smart Investing
Anatoly Iofe is founder and CEO of IceBridge Financial Group, a global multifamily office based in Boca Raton, Florida. getty If you're looking for a way to supercharge your wealth while keeping Uncle Sam at bay, let's chat about separately managed accounts (SMAs) inside private placement life insurance (PPLI). This combo is like the dynamic duo of financial planning—customizable, tax-efficient and packed with potential. PPLI is a sophisticated financial tool to combine wealth preservation, tax efficiency and investment flexibility. PPLI offers a unique structure where the cash value of the policy is invested in a customized portfolio tailored to the policyholder's financial goals. It's a potential powerhouse for wealth preservation, growth and estate planning. The flexibility of PPLI stems from its private placement nature, meaning it is not subject to the same regulatory constraints as publicly offered insurance products. Policyholders can work with investment managers to allocate funds across a range of asset classes, such as equities, fixed income, commodities or even bespoke strategies like venture capital or distressed debt. Additionally, the tax-deferred growth of the cash value and the ability to access funds through policy loans provide a compelling advantage, enhancing the appeal of PPLI as both an estate planning tool and an investment vehicle. An SMA is like having your own personal investment chef—they cook up a portfolio just for you, tailored to your tastes, and you own every ingredient directly. Inside a PPLI policy, an SMA is a custom-managed portfolio run by a professional investment manager. They've got the reins to buy, sell and tweak the holdings based on your goals, all while keeping everything compliant with insurance regs (like the IRS's diversification rules under Section 817(h)). You fund your PPLI policy with a premium, which could be cash or existing securities. That money flows into a segregated account, separate from the insurance company's general pool, where your SMA lives. Your investment manager then crafts a portfolio that's uniquely yours, picking investments that match your risk appetite, financial dreams and ideally even your values. All the growth inside that SMA—capital gains and dividends—happens tax-deferred. No 1099s or K-1s, no tax returns and no tax bill if you get your money via policy loans. One of the coolest things about SMAs in PPLI is how flexible they are. Life changes, markets shift and your goals evolve—so why should your investments stay stuck? With an SMA, your manager can pivot on a dime. Want to dial down risk as you near retirement? Done. Spot a hot new sector you want in on? They can make it happen. Unlike rigid investment vehicles, SMAs adapt to you, not the other way around. Plus, you've got control—within limits (more on this below). The IRS's Investor Control Doctrine means you can't micromanage every trade (that's your manager's job). But you can set the vibe—say, 'I want growth with a side of income,' or 'Keep it green and sustainable.' So, what can you toss into an SMA inside PPLI? Pretty much anything that fits the diversification rules and your manager's playbook: stocks, bonds, alternative assets, ETFs and index funds, commodities and insurance-dedicated funds (IDFs). How do IDFs stack up to SMAs? IDFs and SMAs are the two main flavors of investment options inside PPLI, and they're like apples and oranges—both tasty, but they hit different spots. IDFs: These are pooled funds, built specifically for insurance policies. They're managed by pros with a set strategy—like a private credit fund or a hedge fund—and you pick from the insurance company's 'menu.' IDFs are awesome if you want a prepackaged, diversified option but with less customization. You're locked into the fund's strategy, and if it doesn't vibe with your goals, you're out of luck. SMAs: With an SMA, you're not picking from a menu—you're writing the recipe. You own the securities directly, and your manager tailors everything to your needs. Want to mirror a winning strategy you've got outside PPLI? Need to exclude certain sectors or chase a niche opportunity? SMAs got you. In short, IDFs are plug-and-play, great for simplicity and lower entry points. SMAs are custom-built—perfect if you've got the cash and crave control. So, why pair SMAs with PPLI? It's all about the benefits: Tax Efficiency: There are no taxes on gains while they compound inside the policy. Customization: Your portfolio reflects you—your goals, your values, your vision. Transparency: You see every move, every holding, crystal clear. Growth Potential: You have access to alternative investments that might be too tax-inefficient outside PPLI. Legacy Power: The death benefit passes to your heirs income-tax-free, wrapping up your wealth plan with a bow. Perhaps you're a real estate mogul who wants less property exposure in your portfolio. Your SMA manager crafts a mix heavy on tech stocks and private equity, all growing tax-deferred inside PPLI. Or maybe you're a tech exec with a big stock position; your SMA balances it out with bonds and alternatives. That's the beauty of SMAs in PPLI—it's your money, your way. That said, it's not for everyone. The biggest obstacle in PPLI is higher minimums; in my experience, for SMAs, it's usually $20 million. You can still invest via PPLI with much lower minimums, but this will not be SMA. The layered fees of the insurance wrapper, legal structuring and SMA management can add up. In addition, it requires a bit of setup. Ensuring the structure complies with IRS guidelines and life insurance diversification rules requires ongoing legal and tax oversight. Without careful planning and management, the intended tax benefits can be compromised. As mentioned earlier, investor control is also limited. To preserve the tax-deferred status of the PPLI, the policyholder must not have direct control over investment decisions. This limitation can feel restrictive, particularly for HNW individuals used to customizing their portfolios through SMAs. Additionally, the SMA strategies must be approved and managed by a registered investment advisor affiliated with the insurance carrier, which can limit manager selection or strategy flexibility. Finally, PPLI structures are generally illiquid and long-term vehicles, making them unsuitable for investors who may need access to their capital in the short or medium term. If you're sitting on some serious wealth and want to keep more of it out of the IRS's domain, SMAs inside PPLI could be your golden ticket. Again, it's not for everyone—it's best for the high-net-worth crowd—but if you fit the bill, it's worth a conversation with your advisor. Think of it as a VIP pass to tax-smart investing with a custom twist. The information provided here is not investment, tax, legal or financial advice. Consult with a licensed legal or tax professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
