GEORGE TOWN, Cayman Islands--(BUSINESS WIRE)--Knighthead Annuity & Life Assurance Company™ today announced the introduction of the first Fixed Index Annuity (FIA) available to global clients. The Knighthead Annuity Safe Harbour™ FIA is designed to provide global clients with the opportunity to benefit from growth in the S&P 500®, while protecting their investment from market downturns.
Gary Dombowsky, Chief Executive Officer of Knighthead Annuity, commented: “Global clients continue to demand straight forward quality financial products from highly capitalized and rated insurers that meet their needs for capital preservation and competitive investment returns. In response, we are very pleased to provide our market with the first ever fixed index annuity as part of Knighthead Annuity’s existing suite of fixed annuity products.”
The Safe Harbour™ FIA’s crediting rate is linked to the performance of the S&P 500® Index on an annual point to point basis, subject to a declared cap. All premium and interest earned is 100% protected from index losses. Similar to other Knighthead Annuity products, the Safe Harbour™ FIA offers generous liquidity benefits, an enhanced death benefit, trust structure and annuitization features.
About Knighthead Annuity
Knighthead Annuity & Life Assurance Company is an AM Best rated insurer that provides fixed annuity offerings to international clients through regulated institutional distribution partners. Knighthead Annuity maintains capital levels to policyholder liabilities at significantly higher levels than traditional annuity insurers to ensure protection of policyholder assets. www.knightheadannuity.com.
Knighthead Annuity is not licensed to sell products in the United States. Its products are not offered for sale to any resident or citizen of the United States, in the United States or in any other jurisdiction where distribution or use would be contrary to law or regulations. Prospective purchasers should obtain independent financial, legal and tax advice to ensure suitability and adherence to any local regulatory requirements. Ratings are effective March 13, 2015. For up to date rating information, visit www.ambest.com.
The S&P 500 index is a product of S&P Dow Jones Indices LLC ("SPDJI"), and has been licensed for use by Knighthead Annuity. S&P® and S&P 500® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Knighthead Annuity.
Knighthead Annuity's product is not sponsored, endorsed, sold, or promoted by SPDJI, S&P or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s), nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 index.
