There are no cash and cash equivalents.
The Company exclusively holds and transacts in Bitcoin (BTC), and all transactions and balances are measured and recognized in BTC.
Refer to the General Note 4.f) to the Statutory Financial Statements for information related to Quoted Investments — Digital Assets.
As of December 31, 2025, and 2024, respectively, quoted investments included 548.29 BTC and 70.65 BTC.
As of December 31, 2025 and 2024, the Company did not have any quoted investments subject to legal or contractual restrictions, other than those disclosed separately in relation to collateral held in custody, as disclosed in Note 13 below.
Refer to the General Note 4.g) to the Statutory Financial Statements for information on unquoted bonds classified as held to maturity.
As of December 31, 2025 and 2024, the Company did not have any unquoted investments subject to legal or contractual restrictions.
No policy loans are issued or outstanding as of December 31, 2025, and 2024.
Refer to the General Note 4.h) to the Statutory Financial Statements for information on Collateral Loans.
Collateral Held in a Company-Controlled Custody Account
As of December 31, 2025, the Company had the following collateral loans outstanding:
| 2025 (all amounts in BTC) | ||||
|---|---|---|---|---|
| Description | Loan Amount | Collateral Held | Interest Rate | Maturity Date |
| Collateral Loans | 212.80 | 212.80 | 2.89% to 3.26% | 12 months¹ |
¹ Loans have an initial term of 12 months and are renewable annually, subject to agreement of the parties, for up to four additional terms.
As of December 31, 2024, the Company had the following collateral loans outstanding:
| 2024 (all amounts in BTC) | ||||
|---|---|---|---|---|
| Description | Loan Amount | Collateral Held | Interest Rate | Maturity Date |
| Collateral Loan | 5.00 | 5.00 | 4.5% | 10/30/2025 |
The collateral held is recorded within Sundry Assets — Other Sundry Assets — Collateral held in Custody, in the Statutory Balance Sheet, and the obligation to return the collateral to the borrower upon loan repayment, recorded within Sundry Liabilities — Other Sundry Liabilities — Collateral Payable, in the Statutory Balance Sheet.
Collateral Held by a Qualified Third-Party Custodian
As of December 31, 2025 and 2024, respectively, the Company had the following collateral loans outstanding:
| 2025 (all amounts in BTC) | |||
|---|---|---|---|
| Description | Loan Amount | Interest Rate | Maturity Date |
| Collateral Loans | 190.40 | Variable | Repayable on-demand with 5 days' notice |
| 2024 (all amounts in BTC) | |||
|---|---|---|---|
| Description | Loan Amount | Interest Rate | Maturity Date |
| Collateral Loans | 100.00 | Variable | Repayable on-demand with 5 days' notice |
Accrued investment income as of December 31, 2025, and 2024, respectively, was 3.83 BTC and 4.75 BTC.
0.50 BTC balance is recoverable against policyholder account values as premium receivable of December 31, 2025 (2024: Nil).
Refer to the General Note 4.h) to the Statutory Financial Statements for information related to Collateral Loans.
As of December 31, 2025, the Company had sundry assets of 212.80 BTC representing collateral held in custody (2024: 5 BTC).
There are no Letters of Credit, Guarantees and Other Instruments.
Reserves for Reported Claims
Long term insurance reserves for reported claims represent the estimated accrued liability for claims reported to the Company through the statutory balance sheet date. These reserves are estimated using individual case-basis valuations. These estimates are subject to the effects of trends in claim severity and frequency. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes available.
As of December 31, 2025, and 2024, there are no reported claims.
Reserves for Unreported Claims
Long term insurance reserves for unreported claims represent the estimated accrued liability for claims incurred but not yet reported through the statutory balance sheet date. These reserves are estimated using statistical analysis techniques. These estimates are subject to the effects of trends in claim severity and frequency. The estimates are continually reviewed and adjusted as necessary as experience develops or new information becomes available.
As of December 31, 2025, and 2024, there are no reserves for unreported claims.
Policy Reserves — Life
Refer to the General Note 4.a) to the Statutory Financial Statements for information related to policy reserves. Policy reserves — Life noted in the Statutory Balance Sheet are supported by the Company's capital and surplus.
Policyholders' Funds on Deposit
Policyholders' funds on deposit represent premiums that have been funded in advance.
There are no insurance or reinsurance balances payable to affiliates at December 31, 2025 and 2024.
Refer to General Notes 4.i) to 4.k) to the Statutory Financial Statement for information regarding Commissions, Expenses, Fees and Taxes Payable.
The Company's federal excise tax liability for the year ended December 31, 2025, is Nil (2024: Nil).
Refer to General Note 4.j) to the Statutory Financial Statement for information regarding income taxes.
Refer to General Note 4.l) and 15 to the Statutory Financial Statement for information regarding Amounts Due to Affiliates. Amounts due to affiliates pertaining to the related party transactions described in General Note 15 are generally due within 30 days after the end of the period the related services are provided.
| Amounts due to Affiliates (all amounts in BTC) | ||
|---|---|---|
| Description | 2025 | 2024 |
| Beginning of Year | )—) | )—) |
| Shared Services and Expense Allocation fees charged to Company | )5.00) | )5.00) |
| Expense reimbursements | )0.19) | )—) |
| Payments during the year | (5.00) | (5.00) |
| End of Period | )0.19) | )—) |
Refer to the General Note 4.h) to the Statutory Financial Statements for information related to Collateral Loans.
As of December 31, 2025, the Company had sundry liability of 212.80 BTC representing the obligation to return the collateral held in custody to the borrower upon loan repayment (2024: 5 BTC).
As of December 31, 2025, the Company had sundry liability of 3.19 BTC representing the prepaid interest on the collateral loans (2024: nil BTC).
44 Montgomery Street, Suite 1480
San Francisco, CA 94104
Magnolia Towers, 2nd Floor, No. 15 Parliament Street
Hamilton HM 12, Bermuda
Meanwhile Insurance Bitcoin (Bermuda) Limited ("Meanwhile") is a life insurance carrier licensed and regulated by the Bermuda Monetary Authority.
Applications for Meanwhile's insurance products will only be received and reviewed by the company at its offices in Bermuda, and all offers and sales of its insurance products will only be made in Bermuda. Meanwhile does not conduct insurance business in any other jurisdiction.
The material on this website should not be construed as any solicitation to buy, offer to sell, or submit an application for the purchase of any insurance product in any jurisdiction other than Bermuda. Meanwhile may initially make hypothetical illustrations available.
These should be construed as illustrative only and do not constitute a proposal to enter into an insurance contract or an undertaking to offer insurance coverage under any specific terms and conditions in any jurisdiction. Only personnel of Meanwhile are authorized to make representations regarding its insurance products. Any materials which have not been prepared by Meanwhile should not be considered as representations by Meanwhile.
Neither Meanwhile Insurance Bitcoin (Bermuda) Limited nor its affiliates Meanwhile Services (Bermuda) Limited and Meanwhile Incorporated, are lawyers or accountants. They do not provide legal or tax advice. You are wholly responsible for obtaining your own legal and tax advice.