Meanwhile, a Bermuda-based life insurer operating entirely in Bitcoin, announced $37.5 million in new funding led by Bain Capital Crypto, bringing its total capital raised to more than $180 million. The round included participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital, and was disclosed on October 8. Company statements said the financing responds to rising international demand for Bitcoin-denominated life insurance across Asia, Europe and the Middle East amid broader macro instability.
The firm's product strategy centers on BTC Life 1-Pay, launched in early 2026 as a single-premium whole-life policy for high-net-worth clients outside the United States. The policy requires one Bitcoin premium and provides a guaranteed death benefit denominated in BTC; it can be owned by individuals, trusts or companies, making it suitable for succession and estate planning. According to company disclosures, policyholders can borrow against the policy after the first year — up to 90% of policy value — without fixed repayment schedules or margin calls. Meanwhile also offers BTC 10-Pay, a product designed for U.S. taxpayers that allows premiums to be paid over ten years. The insurer has not disclosed exact sales figures or the total Bitcoin value of premiums collected.
Regulatory and operational details underscore the company’s approach: Meanwhile Insurance Bitcoin (Bermuda) Limited received a Class IILT license from the Bermuda Monetary Authority on July 25, 2024, after participation in the regulator’s insurance innovation sandbox. The company says its financial statements, reserves and balance sheet are denominated entirely in Bitcoin, and customer holdings are kept with regulated institutional custodians. Meanwhile has signed agreements with 15 brokers serving wealthy families in financial centers including Singapore, Hong Kong, Switzerland and the United Arab Emirates. CEO Zac Townsend said brokers approached the company because clients kept asking for regulated ways to pass Bitcoin to the next generation.
Meanwhile also reported improved underwriting performance: net long-term underwriting income for 2026 has already exceeded 2025’s total and is forecast to more than double by year-end, though precise figures were not disclosed. In related industry moves, one report noted that WTW acquired crypto insurance platform Redefind and launched a digital asset protection service covering costs such as forensic investigations, asset tracing and legal recovery following theft or loss, reflecting growing attention to protection and recovery offerings for digital assets.