Beechwood launches guaranteed investment plans

Kane LPI Solutions team acts as third party administrator for the launch

The Kane LPI Solutions team has played a key role in the recent launch of two new fixed and variable guaranteed investment plans by Beechwood Bermuda International Ltd (Beechwood). The two products include a guaranteed rate plan and a guaranteed investment plan spanning a wide variety of equity and bond funds. The Accumulator Plus plan, which offers guaranteed rates up to 2.75% for three years and 3.50% for five years, includes a wealth transfer benefit and is structured within a Bermuda trust. The Escalator Plus plan, which also uses a Bermuda trust structure, provides investors with access to mutual funds including multiple asset classes, as well as guaranteed fixed interest rate accounts. The plan also offers a principal protection guarantee of 95%, 100% or 115% depending on whether a three, five or ten-year plan is selected.

The Kane LPI team, headed up by Nar Almeida, worked closely with Beechwood, as well as the firm’s A-rated hedging partner, which is a large global bank, at all stages in the process, from the initial development of the two products, to the build of the system which underpins the various product features, through to the testing phase and recent launch. Commenting on their role, Nar said: “Kane LPI injected its best industry practices and deep domain knowledge of the sector into aiding Beechwood in designing and delivering the best product and operational model possible.” Kane’s ability to offer a one-stop-shop facility was also once again in evidence, with Kane Bermuda’s insurance management team, led by Robert Eastham, also providing the back-office insurance management of Beechwood’s corporate entities in Bermuda