SANTA BARBARA, Calif., March 14, 2014 /PRNewswire/ -- Early yesterday morning, Guinness World Records, the global authority on record breaking, confirmed a new record broken for the 'most valuable life insurance policy,' valued at a total of $201 million, on the life of a well-known US billionaire. The record-breaking insurance policy was sold by Dovi Frances, Managing Partner of SG LLC, a global advisory firm that provides high-net-worth clients with unique solutions to their complex financial needs.
The policy has a combined death benefit to be paid upon the death of the single insured that more than doubles the previous record set by Peter Rosengard from the UK, whose record-breaking insurance sale in 1990 sold at $100 million, on the life of a US entertainment industry figure.
Frances commented, "Bringing this transaction together required negotiating concurrently with over two dozen insurance companies and complex underwriting requests from each insurance company."
The well-known billionaire client, who bought the single-life-insurance policy, resides in the Silicon Valley area of California and is widely known for actively participating in the technology space.
When SG, LLC began in 2010, they solicited new business by issuing a direct mail campaign, which the billionaire answered and subsequently became a client.
About SG, LLC:
SG, LLC is a global advisory firm that operates in the US, Russia, and Israel. The firm provides high-net-worth clients with unique solutions to their complex financial needs. SG, LLC operates through five divisions. Each division mirrors one of the five elements that encompass the financial eco-system of a high-net-worth client: Lending, Insurance, Operations, Alternative Investments and Asset management. Since 2010, SG LLC has facilitated over 940 Million USD in completed transactions through its Lending, Insurance, and Operations Divisions. The firm has also directly invested over 240 Million USD through its Alternative Investments and Asset management Divisions. Over the past 4 years, SG LLC has been featured in prestigious magazines and publications such as Forbes, Wall Street Journal, Kommersant, and Globes, often described as "L'Éminence Grise" to the wealthy.