RCS - Alpha Growth PLC - Providence Life Granted Isle of Man Branch License

Alpha GrowthAnnouncement

20/06/2025 08:15

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RNS Number : 6607N  Alpha Growth PLC  20 June 2025

 

 

REACH: non-regulatory announcement

Alpha Growth plc

("Alpha" or the "Company")

Providence Life Receives Isle of Man Branch License

Alpha Growth plc, (www.algwplc.com (http://www.algwplc.com) ) a leading global
financial services specialist in the multi-billion dollar market of longevity
assets and insurance linked asset and wealth management is pleased to announce
that one of its group companies, Providence Life Assurance Company (Bermuda)
Limited ("Providence Life Assurance"), a leading provider of bespoke life
insurance solutions for ultra-high net worth ("UHNW") individuals and family
offices, has been granted a branch license in the Isle of Man. The new branch,
operating under the name Alpha PPLI www.alphappli.com
(http://www.alphappli.com) ,  will cater to the sophisticated wealth planning
needs of clients across the UK, Europe, Middle East and Asia.

 

The Isle of Man Financial Services Authority issued the permit to Providence
Life Assurance on May 23, 2025, under section 22 of the Insurance Act 2008,
authorizing the company to conduct both Class 1 and Class 2 insurance business
with immediate effect.

 

Alpha PPLI builds upon Providence Life Assurance's established expertise in
Private Placement Life Insurance ("PPLI") and Private Placement Variable
Annuities ("PPVA"), offering tailored solutions designed to address the
complex financial and succession planning requirements of UHNW individuals and
family offices. The branch aims to provide a full suite of customized
insurance structures, supported by a team with decades of collective industry
experience and backed by the financial strength of parent company Alpha Growth
plc.

 

Alpha PPLI is lead by its Chief Executive Julian Melling and Business
Development Executive Richard Turnbull, both based in the Isle of Man with
significant recognized experience in the high net worth life insurance
industry.

 

"Our expansion into the Isle of Man through Alpha PPLI marks a significant
milestone in Providence Life Assurance's growth strategy. This new branch
enhances our ability to deliver world-class, flexible insurance solutions to
discerning clients in key international markets," said Gobind Sahney, Chairman
& CEO of Alpha Growth plc and Providence Life Assurance.

 

"After many years in this industry, I am pleased to lead the strategic
expansion of Providence Life Assurance's international business.  This marks
a pivotal moment for UHNW life insurance, opening up an exciting future for
Providence Life Assurance and the Alpha Growth group of companies, as we
enhance our ability to serve the sophisticated needs of UHNW clients and
family offices across key international markets." said Julian Melling,
jm@alphappli.com Chief Executive of Alpha PPLI.

 

Providence Life Assurance is renowned for its independent, client-focused
approach, delivering best-in-class service and innovative insurance products.
The launch of Alpha PPLI in the Isle of Man underscores the company's
commitment to supporting the wealth management objectives of UHNW clients and
family offices in the UK, Europe, and Asia.

 

About Providence Life Assurance Company (Bermuda) Limited: Providence Life
Assurance specializes in providing customized life insurance products,
including PPLI and PPVA, to ultra-high net worth individuals and institutions.
The company operates under the regulatory oversight of the Bermuda Monetary
Authority and is part of Alpha Growth plc, a global leader in insurance-linked
wealth management.

 

 

                                                                                  ir@algwplc.com (mailto:ir@algwplc.com)

 Alpha PPLI - Julian Melling jm@alphappli.com (mailto:jm@alphappli.com)

                        Richard Turnbull rt@alphappli.com
 (mailto:rt@alphappli.com)

 UK Investor Relations - Mark Treharne

 

 

About Alpha Growth plc

 

Specialist in Life Insurance, Esoteric and Longevity Assets

 

Alpha Growth plc is a financial advisory business providing specialist
consultancy, advisory, and supplementary services to institutional and
qualified investors globally in the multi-billion dollar market of longevity
assets and insurance linked asset and wealth management. Building on its
well-established network, the Alpha Growth group has a unique position in the
insurance and asset services and investment business with global reach.

 

 

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