Regulatory Disclosures

Prudential Bermuda ISA, Ltd.


Prudential Bermuda ISA, Ltd. ("Prudential") is an insurance company incorporated in Bermuda and licensed by the Bermuda Monetary Authority (“BMA”). You may confirm details in relation to Prudential’s licensing status on the BMA’s List of Regulated Entities.
 

Bermuda Regulatory Framework


Prudential is subject to, and conducts its business, in accordance with all applicable laws and regulations issued or effective in Bermuda (collectively, Bermuda’s “Regulatory Framework”). This Regulatory Framework fosters a safe, transparent and resilient financial services (including insurance) sector whilst protecting policyholders, investors and other stakeholders. The Regulatory Framework includes, but is not limited to, requirements relating to anti-money laundering and anti-terrorist financing, sanctions, tax reporting, and personal information protection.

Prudential is not licensed, authorised or in any other way regulated – nor does it hold itself out as being such – in any other jurisdiction outside of Bermuda. Nothing on this website constitutes, and shall not be construed as, an offer, invitation, recommendation or solicitation to purchase any insurance product in any jurisdiction where such offer, invitation, recommendation or solicitation would be unlawful or would require registration, licensing, authorisation or approval that has not been obtained.
 

Customer Due Diligence


Prudential is committed to maintaining robust customer due diligence ("CDD"), anti-money laundering ("AML"), Anti-Terrorist Financing (“ATF”) and Counter Proliferation Financing (“CPF”) standards.

As part of the application and policy lifecycle, we may request additional information or documentation relating to:

  • identity verification
  • source of wealth
  • source of funds
  • beneficial ownership
  • tax residency
  • sanctions screening
  • ongoing customer due diligence

We may also carry out screening against applicable sanctions, politically exposed person ("PEP"), and other regulatory watchlists where required by law or internal policy.

Any application for insurance coverage is subject to acceptance by Prudential and may only be made in accordance with applicable laws and Prudential's underwriting, compliance and policy issuance requirements.
 

FATCA and CRS


Prudential complies with applicable tax reporting obligations, including the U.S. Foreign Account Tax Compliance Act ("FATCA") and the OECD Common Reporting Standard ("CRS").

Customers may be required to provide information relating to their tax residency, Tax Identification Number ("TIN"), and other relevant tax information. We may disclose such information to relevant tax authorities or other authorised parties where required by applicable law.

Customers are responsible for notifying Prudential promptly of any changes to their tax residency or other relevant tax information.
 

Cross-Border Information Sharing


To provide our products and services, Prudential may share information within the Prudential Group and with authorised service providers, reinsurers, professional advisers, distribution partners, and regulatory authorities, both within and outside Bermuda.

Where personal information is transferred internationally, appropriate safeguards will be implemented in accordance with applicable data protection laws.
 

Sanctions


Prudential is required to comply with applicable sanctions laws and regulations.

We reserve the right to decline applications, restrict transactions, delay payments, or terminate policies where required to comply with applicable sanctions, legal, or regulatory obligations.
 

No Legal or Tax Advice


Information provided on this website is intended for general information purposes only and should not be regarded as legal, tax, accounting, investment, or financial advice.

Prospective policyholders should seek independent legal, tax, regulatory and financial advice regarding the suitability and legal consequences of acquiring and holding any insurance product prior to purchase.
 

Governing Law


Unless otherwise stated, products issued by Prudential Bermuda ISA, Ltd. are exclusively governed by the laws of Bermuda.
 

Contact Us 


If you have any questions regarding our regulatory obligations or compliance requirements, please contact us through the details provided on our Contact Us page.