Axco’s Offshore Life Report has now been renamed as the International Life Report. This better reflects the content of the report, which focuses on business written across borders by life insurers based in tax-efficient locations and specialising in this type of business.

All three locations experienced a drop in their international life premium income in 2008. Whilst total premium income and assets under management have fallen, the Association of International Life Offices (AILO) reported that new single premium business for its members rose by 17.6% during 2008, with new annual premiums rising by 45.5%. 

Not surprisingly in view of the economic recession and stock market volatility, 2009 new business will show a sharp fall, with one report suggesting that the Isle of Man’s annual premium equivalent new business in the first half-year of 2009 fell by 37%.

The Axco International Life Report also reports on various smaller European centres, such as the Channel Islands, Gibraltar, Liechtenstein and Malta, and the further flung locations of the Bahamas, Bermuda, Cayman Islands and the Netherlands Antilles.

Existing subscribers to the Insurance Market Reports can find this report under “International Life” in the Country Reports dropdown menu.  Non-subscribers wishing to purchase a copy of this report should contact Roberta Field at roberta.field@axcoinfo.com or phone +44 20 7623 9828.

Axco’s International Life Report is in production.  It will be published in the first quarter 2010.