A life insurance company of distinction

Providence Life Assurance Company (Bermuda) Ltd. (“Providence”) specializes in providing customized life insurance products to ultra-high net worth individuals to serve their financial planning needs. Headquartered in Bermuda, Providence focuses on two primary lines of business: private placement variable life insurance policies (“PPVLI”) and private placement variable annuities (“PPVA”).

Our Approach

We tailor our products and services to meet client needs

We offer a full range of private placement life insurance and annuity structures. As an independent company exclusively serving the needs of its clients, Providence offers flexible customized products in conjunction with best-in-class complementary service providers. Backed by the financial strength of our parent company, Northstar Group (Bermuda) Limited, our team is dedicated to one outcome: the success of our clients.

Our Strengths

There is no substitute for experience combined with innovation

Providence’s leadership team has many decades of collective experience in the life insurance business. Our founder, Daniel L. Gray, was one of the first insurance executives to develop the PPVLI business in Bermuda in 1998. The experience and industry knowledge of our employees, along with our specialist focus, enable us to compete against much larger companies.

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Our History

Pramerica of Bermuda Life Assurance Company Limited (“Pramerica”), a wholly owned subsidiary of Prudential Financial, Inc., was incorporated in 2008 as a long-term insurer under the Bermuda Insurance Act 1978 and related regulations. Pramerica stopped writing new business in March 2017. In May 2019, Pramerica was sold to Northstar Group (Bermuda) Limited and renamed Providence Life Assurance Company (Bermuda) Ltd.

Leadership Team

Providence’s leadership team has unparalleled experience in the life insurance business

Our leadership team has extensive experience in the insurance industry and has demonstrated management and investment success over many economic and insurance cycles.

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Financial Condition Report

Latest Financial Condition Report