NEWPELGROUP to offer wealth management products from Gibraltar

NEWPELGROUP provides sophisticated private client solutions to the wealth management industry.

Luxembourg – NEWPELGROUP announces that it has been granted a license by the Gibraltar Financial Services Commission to distribute life products. This represents an important further step in the Group`s strategy, as it expands its portfolio of wealth management products available to clients across the European Union.

NEWPELGROUP has made use of a new legal structure that has recently been introduced in the European Union, called a Protected Cell Company (PCC). Gibraltar has taken a lead in supporting the development of these products.

From the perspective of the client, a PCC offers several advantages, with asset protection being one of the most important. A PCC is a corporate body that can establish legally recognised cells in order to segregate and protect policyholder assets. Business transactions conducted through one cell are therefore kept separate from the activities of other cells.

NEWPELGROUP was advised by Nigel Feetham, Partner of Gibraltar law firm Hassans.

Tom Fraser, CEO of NEWPELGROUP, commented: “The Gibraltar regulations allow for a wide range of asset classes to be included in life products, thus complementing NEWPELGROUP`s existing product portfolios domiciled in Luxembourg and Bermuda.”

James Tipping, Director of the Gibraltar Finance Centre, added: “Gibraltar was the first jurisdiction within the European Union to implement PCC legislation. We are very pleased that PEL has chosen Gibraltar as its insurance domicile.”

Media enquiries
Thorsten Wittmeier, NPG Wealth Mangement
Telephon +352 4567 30 4716
Mobile +352 621 19 17 33
thorsten.wittmeier@finadmin.eu

Alex Child-Villiers, Temple Bar Advisory
Telephon +44 20 7002 1080
Mobile: +44 7795 425580
alexcv@templebaradvisory.com





Notes to Editors
About NPG Wealth Management

NPG Wealth Management provides sophisticated private client solutions to the wealth management industry. Through its subsidiaries, NPG creates financial structures designed to meet clients’ objectives for investment planning, inheritance and retirement planning. The Group controls client assets of over EUR 5 billion, including EUR 3.7 billion of client assets in its wealth management business, serves more than 50,000 clients in eight countries and employs some 400 people throughout Europe.