IMPORTANT INFORMATION ABOUT ACCESS TO THIS WEBSITE

The information provided on this website is not intended for distribution to, or use by, any person in the United States or in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Northstar products are not available to US persons or citizens or residents of Bermuda. The website has been created for informational purposes only and is intended for use only by authorized distributors or current policyholders.

Please download and read the Terms & Conditions of Use below carefully. These set out the terms and conditions for accessing this website. After you have read and understood the Terms & Conditions of Use, you may click “I Accept” to proceed. By doing so, you:

i) confirm that you are accessing this website on an unsolicited basis, on your own initiative and in compliance with the laws and regulations of the jurisdiction or country in which you are residing;

ii) confirm your understanding that this website contains information about investment and/or insurance products and services that may not be available to persons in your jurisdiction;

iii) confirm that to the extent that any information contained in this website relates to any security or insurance, you will not use such information either directly or indirectly in connection with any purchase or sale, or the solicitation of any offer to purchase or sell, any security or insurance to or from any person that would violate the securities, insurance or other laws of any jurisdiction; and

iv) acknowledge expressly that you have read and understood the Terms & Conditions of Use and agree to abide by them.

By clicking ‘I Accept’ you confirm your understanding and acceptance of the criteria detailed above, and that you have read and accept the Terms & Conditions of Use.

NORTHSTAR – TERMS & CONDITIONS OF USE

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Bermuda Information

Bermuda has earned a formidable reputation as a leading international financial center, with a strong and stable economy and extensive resources of intellectual capital in key sectors, including insurance, legal and financial services. Behind New York and London, Bermuda is the third largest insurance hub in the world, with an A2 rating from Moody’s, and has a long history of providing sophisticated financial and professional services to international business as well as high net worth individuals.

Bermuda Monetary Authority

The Bermuda Monetary Authority (BMA) is the integrated regulator of the financial services sector in Bermuda. Established under the Bermuda Monetary Authority Act 1969, the BMA supervises, regulates and inspects financial institutions operating in or from within the jurisdiction.

The BMA develops risk-based financial regulations that it applies to the supervision of Bermuda’s banks, trust companies, investment businesses and insurance companies. In addition, as required by the relevant financial services legislation, the BMA provides specific reports on its activities to the Minister of Finance on an annual basis. In carrying out its role, the BMA both follows and helps to set international best practice.

Northstar Financial Services (Bermuda) Ltd. is regulated by the Bermuda Monetary Authority and is registered as a long-term insurer and segregated accounts company.

For further information regarding the Bermuda Monetary Authority, please visit their website at www.bma.bm

Bermuda Trusts

Bermuda trusts offer the advantages of regular trusts but at significantly less cost and they are relatively quick and straightforward to establish. By participating in a Bermuda trust, investors are provided with financial security and wealth transfer flexibility.

The NFSB Master Trust, which establishes segregated sub-trusts for each individual investor, purchases the appropriate Northstar product as chosen by the investor and holds that product for the benefit of the investor’s designated beneficiaries.

The Bermuda trust structure offered through Northstar’s investment products provides investors with the following benefits:

  • Trust income is not subject to Bermuda tax
  • Enables the investor to designate beneficiaries with proceeds paid directly to them on death
  • Segregated account protection, which segregates the assets in the trust from the general creditors of Northstar
  • Enhanced protection of trust assets from creditors and from arbitrary seizure

Solvency II

In November 2015 Bermuda was awarded full equivalence under the tough EU Solvency II regulations by the European Commission, which means that Bermuda and Switzerland are the only non-EU jurisdictions to be recognised as in line with new Euro insurance rules.

Solvency II equivalence is a significant achievement for the BMA and represents the European Commission’s recognition and acceptance of Bermuda’s supervisory regime for insurance. This very public recognition is a positive development for the jurisdiction and the insurance industry as it positions Bermuda favourably when compared with the regulatory framework of some other offshore jurisdictions.