Article ID: 58704b0598b37c66ed28b0340316daf82bed820003ddd53020c7d24d00ce13f6
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Polo Insurance Managers, part of PoloWorks, a Marco Capital Group, has supported the establishing, licensing, and ongoing operation of Bitcoin Life, a newly formed Guernsey based international life insurer by the trading name of Perpetual21 Limited, to bring digital asset exposure into a regulated life insurance framework. Bitcoin Life has already received approval to operate as an international long-term life insurer, and aims to launch its first product, a Bitcoin Life insurance bond. The goal is to provide clients access to Bitcoin within a regulated insurance structure, to support long-term financial planning and intergenerational wealth transfer. The product is a regulated whole-of-life, investment-linked insurance bond, which will be made available to long-term Bitcoin holders. The pair explained that the launch responds to growing interest in incorporating digital assets into established insurance frameworks through recognised regulatory structures. Polo Insurance Managers has worked with Bitcoin Life to provide structuring support, insurance management, governance, and regulatory oversight. Meanwhile, Bitcoin custody and execution are provided by BitGo Europe. Bitcoin Life’s initial product allows clients to invest a single premium in fiat currency or Bitcoin, with the policy denominated in Bitcoin and administered through an international life insurance bond. The business will operate fully within the regulated environment, with governance, risk management and operational oversight aligning with Guernsey regulatory requirements. Mark Elliott, Chief Executive Officer, Polo Insurance Managers, commented, “The successful launch of Bitcoin Life demonstrates how non-traditional assets can be incorporated into established insurance structures in a controlled and responsible way. Polo Insurance Managers works with clients to structure and operate regulated insurance businesses, particularly where the underlying risk or asset is complex or non-standard. Bitcoin Life combines Bitcoin exposure with a familiar life insurance framework, and our role is to ensure that this is delivered within a robust and well-governed structure.” Peter Lane, Founder and Executive Director, Bitcoin Life, added, “Bitcoin Life has been established to provide a regulated structure for clients who wish to hold Bitcoin as part of their long-term financial planning. The estate planning market has been around for generations; we’ve just upgraded it to allow for the next generation of asset class. He continued, “Securing our licence in Guernsey allows us to combine Bitcoin exposure with the certainty and framework of a life insurance wrapper, creating a clear pathway for holding and transferring value over time within a recognised and regulated environment. We selected Polo Insurance Managers for their experience in establishing and operating complex insurance structures, and their ability to guide us through the regulatory process.” “If you believe Bitcoin is going to be here for the long-term, then you need to think about how you structure your investments properly. We believe Bitcoin is a forever asset and, therefore, it needs a forever home. That’s what we have been able to bring to the market. As founders, we eventually want to pass our Bitcoin down to our children seamlessly, so this licence is a huge milestone for us. It means that Bitcoin can now sit inside a fully-regulated, international insurance company, giving families the opportunity to include Bitcoin in their trusted estate planning tools. “That opportunity simply didn’t exist in this format before as the industry framework pre-dates Bitcoin. For decades, investors have been able to use life insurance wrappers to protect their assets and now we have built this business to bring Bitcoin into that estate planning world. Bitcoin Life is about building for the long term and creating structures that allow people to hold Bitcoin for life and to pass it on to future generations,” Lane added. Harald Patt, Managing Director of BitGo, said, “BitGo is proud to serve as Bitcoin Life’s institutional custody and trading partner, providing the secure infrastructure behind an innovative, regulated Bitcoin insurance product. This partnership reflects our commitment to bridging traditional finance and digital assets with institutional-grade security.” Bitcoin Life’s digital asset custody and trading is provided by BitGo Europe GmbH, a subsidiary of BitGo Holdings, Inc., the digital asset infrastructure company trusted by clients worldwide. Harald Patt, Managing Director, BitGo, said, “BitGo is proud to serve as Bitcoin Life’s institutional custody and trading partner, providing the secure infrastructure behind an innovative, regulated Bitcoin insurance product. This partnership reflects our commitment to bridging traditional finance and digital assets with institutional-grade security.” Meanwhile, BWCI provided trustee services and actuarial services, as its actuarial team helped with product design and will continue to provide support for regulatory reporting. Carey Olsen, an offshore law firm provided legal assistance.
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