Sevitt Consulting Limited

UBS International Life Ltd - a wholly owned subsidiary of Swiss financial giant UBS AG - was established in record time in April 2003. The UBS-sponsored life assurance company offers unit-linked life insurance to wealthy private clients in Europe.

The choice of headquarters fell on Ireland with its more liberal investment regulations, well-developed infrastructure and low rates of taxation. Being licenced as an insurance company in Ireland also gave UBS International Life Ltd. automatic access to other countries within the EU.

For UBS, the pan-European insurance products were developed in Switzerland, combined with global UBS investment instruments, distributed in EU countries and processed in Ireland.

Sevitt Consulting was appointed by UBS to ensure that their conceptual business model was implemented in full by pulling together the various constituant parts, some of which were already in existence within the UBS group, and combining them in the most streamlined and cost-effective way. To achieve this, we worked with the client's technical teams and external partners to develop and implement the required operational infrastructure including:-

• Advising on the infrastructure required for each new country launch;
• Drafting the required Operations Manuals for each country;
• Setting up of the local office in Ireland;
• Recruitment of the core management team & support staff;
• Advising on the re-engineering of the business to bring administration in-house and move away from an outsourced TPA model;
• Managing the tender and selection process for a new Policy Administration system.