The liquidation of Custodian Life Limited in Bermuda is ongoing. Partial withdrawals are reportedly expected in 2026 or 2027, although policyholders should await official confirmation of the timing and conditions.
The latest development is the appointment of new joint liquidators from PricewaterhouseCoopers (PwC), who took over from Deloitte on July 10, 2026.
What happened to Custodian Life Bermuda?
Custodian Life entered court-ordered provisional liquidation on 24 November 2023, following a petition by the Bermuda Monetary Authority (BMA).
Deloitte was initially appointed joint provisional liquidators to assess the company’s financial position and pursue potential restructuring options.
During this process, withdrawals, redemptions and trading were suspended while the liquidators worked to establish the company’s financial position and protect policyholders’ interests.
The restructuring did not resolve the situation. On October 3, 2025, the Bermuda court ordered Custodian Life to be wound up following findings of extensive and longstanding regulatory breaches.
The BMA subsequently detailed concerns including improper trading practices, inadequate protection of policyholder assets, inaccurate disclosures and failures to cooperate with regulatory investigations.
When can policyholders expect partial withdrawals?
Partial withdrawals are reportedly expected in 2026 or 2027, but a confirmed timetable and the applicable conditions have not been established here.
Policyholders should check official liquidator communications for information about eligibility, available amounts and the process for requesting withdrawals.
The timing and amount of any eventual distribution will depend on the progress of the proceedings and the liquidators’ assessment of the company’s assets and liabilities.