HAMILTON, Bermuda--(BUSINESS WIRE)--Beechwood Bermuda, which through its affiliates is one of the largest providers of international investment plans with more than $1 billion in assets, announces the renaming of Old Mutual (Bermuda) to Beechwood OMNIA as part of its commitment to providing international investors with access to guaranteed investment plans.
The renamed Beechwood OMNIA, which has been integrated into Beechwood’s existing platform, includes clients from approximately forty distribution partners throughout Asia, Latin America and the Middle East. The completed integration provides Beechwood with the scale necessary to continue to meet demand from new and existing clients for innovative investment plans.
Although Beechwood OMNIA has been closed to new investors since 2009, existing clients of the business will now have access to enhanced features and fixed accounts with higher rate options than are currently offered. In addition, as more financial institutions add Beechwood’s Preferred Rate Plus and Escalator Plus investment plans to their platforms, many Beechwood OMNIA clients will have the opportunity to transition their investments to these products, which offer attractive rates and unique investment features such as principal protection guarantees.
“We are committed to providing international investors with guaranteed investment plans, and there is a clear opportunity in this market, which contracted during the financial crisis but now is experiencing strong growth in client demand,” said David Lessing, Executive Vice President of Products and Services at Beechwood. “Our purchase and integration of Beechwood OMNIA uniquely positions us to meet this client demand by sending a clear message to our clients that we are in this market for the long-term.”
Beechwood Bermuda’s investment solutions are featured on the platforms of over eighty banks and brokerage firms around the world. The investment plans are supported by Beechwood’s seasoned portfolio managers, a senior management team consisting of the former Chief Operating Officers of both Merrill Lynch’s and Morgan Stanley’s U.S. Wealth Management groups, and Beechwood’s experience in managing risk as a reinsurer to leading global financial institutions.
About Beechwood Bermuda International Ltd. and Beechwood Re, Ltd.
The Beechwood family of companies includes Beechwood Bermuda International Ltd., a licensed long-term insurer located in Hamilton, Bermuda and regulated by the Bermuda Monetary Authority (BMA) -- and Beechwood Re, a reinsurer domiciled in Grand Cayman and regulated by the Cayman Islands Monetary Authority (CIMA). The companies were formed to provide solutions that address significant demand from: (1) non-U.S. or Bermudian high net worth investors seeking innovative, guaranteed investment products; and (2) U.S. and international insurers in need of attractive capacity in the life insurance and annuity reinsurance market.
Forward Looking Statements:
This press release may include information that might be considered forward-looking. While any such forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise these forward-looking statements in light of new information or future events.