14 November 2016Law & regulation

Captive management firm Advantage acquires US Commonwealth Life

Advantage Insurance (Advantage), a provider of customised insurance solutions including captive insurance management, has acquired US Commonwealth Life (USCL).

Operating within Puerto Rico’s International Insurance Center, USCL issues life insurance policies to high net worth individuals and family groups to assist with estate planning, asset protection and other needs.

"US Commonwealth is the leading international life insurance company operating from Puerto Rico,” said Walter Keenan, CEO of Advantage.

“We have long admired the high quality franchise Colin Muirhead and Jay Walker have built, and we are very pleased that they have placed their confidence in Advantage to continue USCL’s tradition of client service. We look forward to working closely with Colin, Jay and their team to grow our combined life insurance business in the years to come.”

Colin Muirhead, of USCL, added: "Our success in growing US Commonwealth highlighted the need to plan for a smooth transition to the next generation of company stewardship. Partnering with Advantage gives us the confidence that our clients will continue to be well served for generations to come.”