Specialized, expert service built upon over 40 years of operating
history in the insurance business
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-movers in developing 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.
Segregated Account Protection
In addition to Providence's use of reinsurance, the policy design
of Segregated Accounts affords additional protections to the
policyholder. Under the segregated account design, the investments
of the policies are not commingled with the general accounts of
the company, hence ensuring that the funds are always available
for the policyholder.
Financial Protection Of Reinsurance
The use of reinsurance provided by some of the world's largest and
best rated reinsurers means that our products have the financial
security of a large company, but provided by a smaller company
dedicated to this line of business. Providence only reinsures with
some of the largest, best rated reinsurers. No reinsurer would be
rated less than A- by AM Best.
Focus On Our Clients And Their Advisors
Our success depends on the success of our clients. We take pride
in our reputation for responsiveness, accuracy and integrity. A
key component of our success is working with third-party
professional services groups such as law firms, investment
managers and financial advisors. Providence understands the role
of the insurance expert in serving client needs and does not
attempt to displace other professionals in order to enhance its
own fees or position with the ultimate client.
The policy administration of the business is provided by Kane LPI
and Marsh Management Services who provides regulatory reporting
and accounting support. Ernst & Young are the auditors for
With offices in Hamilton, Bermuda, Providence gives financial
advisors the ability to select the insurance solution that best
meets a client's unique objectives and preferences. Providence has
made a United States 953(d) tax election and is treated as a US
taxpayer thereby avoiding the imposition of a 1% US Federal Excise
Tax on premiums paid by policyholders.
Experienced Management Team
Providence's senior executives have deep experience in the
insurance, reinsurance and private equity industries. Most team
members have worked in client-facing roles and appreciate
Providence's philosophy of providing first class client service.