Geneva Life Holdings, LLC has completed its acquisition of Geneva International Insurance (GII), a Barbados-domiciled life insurance company focused on private placement life insurance (PPLI) and private placement variable annuity (PPVA) solutions for high-net-worth families, family offices, and institutions. The deal, which closed in March 2026, was announced July 27. Financial terms were not disclosed.
PPLI policies are tax-advantaged investment wrappers that allow eligible policyholders to hold alternative assets inside an insurance structure. Those assets can include hedge funds and private equity instruments typically inaccessible to retail policyholders.
Offshore carriers domiciled in Barbados, Bermuda, and the Cayman Islands are established participants in this market. Regulatory flexibility and broader investment options make these jurisdictions attractive to ultra-high-net-worth clients and their advisors.
The domestic PPLI market drew scrutiny in 2024 when a Senate Finance Committee investigation found fewer than 3,100 active policies sheltering at least $40 billion. The findings renewed interest in offshore providers, which operate under different regulatory frameworks and carry different tax treatment for US policyholders.
Geneva International Insurance has operated since 2016 and is licensed and regulated by the Financial Services Commission of Barbados. It holds a Section 953(d) election under the US Internal Revenue Code. The election treats the company as a US taxpayer for federal tax purposes, a structural feature relevant to American policyholders.
The most recent publicly available figures, from year-end 2023, put the Geneva Insurance Group's policy book at more than 180 large policies with a combined US$1.8 billion in assets under management across its Barbados and non-953(d) carriers. More current figures for GII specifically were not available at the time of this acquisition's announcement.
Geneva Life Holdings said GII's licenses, management, regulatory relationships, and policy administration will continue without interruption. In-force policies remain under their existing terms.
Geneva Life Holdings, LLC was established in 2026 and is headquartered in Hollywood, Florida, with offices in New York, Miami, and Barbados. The company is owned by its management and employees.
David M. Borowsky, chief executive officer and managing partner of Geneva, said the deal adds GII's balance sheet and operating history to the firm's platform. "The insurer belongs on the same side of the table as the families and advisors it serves," Borowsky said.
Nikita Gibson, managing director of insurance operations, said continuity for policyholders was the defining priority of the transaction. "Nothing changes for policyholders, and that is the point," Gibson said. "Our licenses, our regulatory relationships, and our service commitments continue exactly as they were."
Gibson said the company plans to retain and expand its Barbados team. "Operational depth and expertise in our home jurisdiction is the foundation of this platform," she said.
Geneva said GII is the insurance anchor of a broader platform it intends to build across insurance, asset management, and private wealth. The employee-ownership structure that governs Geneva's own operations also shapes how GII is integrated, from fee architecture to client reporting.
