Liechtenstein

Liechtenstein in brief:

• Constitutional hereditary monarchy on a democratic and parliamentary basis; Head of State: Prince Hans-Adam II

• Member of the Europea Economic Area (EEA) therefore enjoys complete freedom of services throughout all countries of the European Union, the EEA and Switzerland.

• Strong, internationally recognised financial market supervision; EU-compliant, modern insurance law following the 4th EU Life Directive

• Follows global OECD standards governing transparency and information exchange in tax matters

• AAA Rating; 3rd highest GDP per person in the world if adjusted for purchasing power parity (the highest in the world if not adjusted

Policyholder protection

Nucleus Life is subject to the art. 59a of the Liechtenstein Insurance Supervision Act which stipulates that policyholder assets constitute a separate bankruptcy estate in accordance with art. 45 of the Bankruptcy Code of Liechtenstein.  This means that in event of bankruptcy of an Insurance Company, policyholder assets are kept separate from shareholders (and other) assets, and may not be seized by its creditors.

The insurance sector

At the end of 2015, 21 life insurance companies, 17 non-life insurance companies, and three reinsurance companies operated in Liechtenstein. 11 undertakings operated as captives, eight of which as direct insurers and three as reinsurers.
Premium income in 2015 amounted to CHF 3.3 billion: life insurers generated CHF 2.3 billion, non-life insurers CHF 1.0 billion, and reinsurers CHF 47 million. The balance sheet total as at the end of 2015 amounted to CHF 27.8 billion.