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Withholding Tax Reclaiming Solutions for Insurance Companies

Regardless of the number of custody banks involved, Furado’s industry-leading solution streamlines the withholding tax reclaiming process for life insurance companies across all relevant investment markets.

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insurance consultant

How Does It Work?

We manage the entire reclaiming process on behalf of the life insurance company, directly interfacing with local and international tax authorities without further involvement of your clients. Furado ensures that all necessary documents are secured, and reclaimed funds are automatically transferred to the insurance company, then distributed to individual policy accounts.

Leveraging superior technology and proven processes, Furado produces cost-optimised reclaims by consolidating all positions held with over 120 international custody banks. This extensive coverage allows insurance companies to comply with the principle of equal client treatment.

Our unique service offers comprehensive reporting throughout the process, ensuring complete tracking of all reclaims on policy level.

– Solution Model

Our Reclaiming Model

Based on a comprehensive service level agreement, Furado reclaims withheld taxes on policies booked by the life insurance company. These portfolios are typically distributed among numerous custody banks in different countries. We ensure a consolidated and optimised reclaim for all relevant policy accounts, reducing process complexity and the costs allocated to individual policy accounts. In addition, Furado provides regular, detailed reports, keeping the life insurance company fully informed on the status of each request for every life insurance policy. From the insurer’s perspective, Furado’s service is user-friendly and does not require IT investments or any other project costs.

– Service Level

Full Service

Furado’s fully automated withholding tax reclaiming process for life insurances operates in a full-service mode, requiring minimal involvement from the life insurance company. We organize the receipt of documents and vouchers necessary for the process. Upon successful completion of the reclaim process and receipt of refunds, Furado assists the insurance company in allocating the refund amounts, net of costs, to the policy accounts.

Interested to find out more about the process and read an anonymised case study for life insurance companies?
Contact us for more information.

Why Furado?

– Error-free Execution

Furado’s fully automated end-to-end withholding tax reclaiming process guarantees superior product delivery 
and error-free execution, ensuring your clients always receive optimal results.

– Cutting Complexity

Furado’s innovative software solution facilitates a fully automated, end-to-end withholding tax reclaim process, significantly reducing complexity.

– Broad Coverage of Client-Driven Structures

Furado’s broad investment market coverage extends across Europe, ensuring an efficient reclaim process for a wide range of client-driven structures.

Find Out More Details about Our Fully Automated Services for Life Insurance Companies

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