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Monday, January 17, 2022

Benefit Protection Completes Progress Transactions

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SAN JUAN, Puerto Rico, Jan. 07, 2022 (Globe NEWSWIRE) — Achieve Insurance coverage Inc. (“Benefit”), a frontrunner in delivering custom-made insurance coverage plan treatments for firms and other people right now, introduced right now that it a short time in the past performed a sequence of transactions to develop and fortify its every day life insurance coverage protection enterprise enterprise. Highlights embody issues like:

  • Merger of our subsidiaries U.S. Commonwealth Way of life, A.I. and Achieve Day by day life Assurance A.I. to consolidate and streamline Puerto Rico capabilities

  • Allocation of greater than $100 million of incremental surplus capital to our important on a regular basis dwelling insurance coverage plan carriers to help the most recent and upcoming progress

Benefit CEO Walter Keenan said, “2021 was an important 12 months for Edge and its way of life insurance coverage plan policyholders. Subsequent quite a few a few years of very cautious planning and evaluation, we completed a restructuring and recapitalization of our lifetime insurance coverage coverage enterprise enterprise that solidly positions Edge Existence as a number one provider of personal placement every day life insurance coverage protection globally, measured by its stability sheet toughness and broad assortment of coverage choices.”

Following the transactions, Profit Way of life has six distinctive existence insurance coverage coverage subsidiaries present in three main insurance coverage plan domiciles, which alongside each other with Benefit’s different insurance coverage suppliers companies present about 700 protection customers and their prosperity advisors globally. As of December 31, 2021 Benefit’s lifetime protection enterprise enterprise skilled total property of over $4 billion, supported by greater than $100 million of surplus money obtainable to fork out coverage guarantees.

Authorized advisors to Benefit had been Conyers, Dill & Pearman Mayer Brown LLP and Vidal, Nieves & Bauzá, LLC. Actuarial services and products had been equipped by Protection Techniques Consulting, LLC.

About Benefit

Benefit Insurance coverage insurance policies Inc., by means of its working subsidiaries, offers customized insurance coverage plan objects and firms to firms and other people right now all around the world. Launched in 1993, proper now Benefit serves round 700 insurance coverage shoppers and administers in extra of $4 billion of insurance coverage coverage property from its headquarters in San Juan, Puerto Rico and extra areas in Bermuda, the Cayman Islands and United States. Benefit’s main strains of small enterprise incorporate private placement existence insurance coverage protection, captive insurance coverage protection administration, and institutional funding advisory suppliers. Make contact with folks and further particulars is accessible on the agency’s site: www.advantagelife.com

Get in contact with: Walter Keenan +1-787-705-2900
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