Hyperion launches new life cover facility
Hyperion Risk Solutions (HRS), a Cayman Islands' independent specialty broker, which operates in conjunction with Syndicate 779 at Lloyd's, has launched a new facility.
The broker said that it will increase the geographical scope and size of life insurance limits available to high net worth individuals (HNWs).
The facility is primarily aimed at the international investors, particularly those with sizeable investments in the UK property market. However, it also creates an opportunity for those seeking term life cover in strong and stable currencies.
Simon Owen, chief executive officer and founder of HRS, said: "The combination of Syndicate 779’s seasoned underwriting expertise and their ability to underwrite significant policy values provides us with a welcome addition to our range of international life insurance solutions.
“Since the introduction of the Annual Tax on Envelope Dwellings (ATED) in the UK in 2013, there has been a significant shift in the way that overseas investors hold related property assets. In many cases, the consequence is a significant and potentially liquidity draining exposure to Inheritance Tax (IHT), with life-insurance offering one of the few viable solutions."
