**Bitcoin Life Insurer Makes History with Audited Financials in BTC**
**Meta Description:** Meanwhile Insurance becomes the first company to publish audited financial statements entirely in Bitcoin, marking a significant milestone in the financial sector.
**URL Slug:** bitcoin-life-insurer-audited-financials
**Headline:** Meanwhile Insurance Becomes First to Release Audited Financials in Bitcoin
In a groundbreaking development, Meanwhile Insurance Bitcoin (Bermuda) Limited has announced that it is the first company globally to publish externally audited financial statements entirely denominated in Bitcoin. This historic announcement, made on June 5, 2025, reveals that the company holds 220.4 BTC in assets and has reported a net income of 25.29 BTC for the year 2024, reflecting an impressive 300% increase year-over-year.
Zac Townsend, CEO of Meanwhile, expressed his excitement about this milestone, stating, “We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited. This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.”
The financial statements were audited by Harris & Trotter LLP, along with its digital asset division, ht.digital. Furthermore, Meanwhile’s financials comply with Bermuda’s Insurance Act of 1978, ensuring that their Bitcoin-denominated financials meet official guidelines. The firm, which operates under a full license from the Bermuda Monetary Authority (BMA), exclusively uses Bitcoin and is restricted from liquidating its Bitcoin assets except to fulfill policyholder claims, positioning it as a long-term holder of the cryptocurrency.
Townsend added, “As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades. This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.”
The 2024 financials also highlighted 23.02 BTC in net premiums and 4.35 BTC in investment income, demonstrating that Meanwhile’s business model not only preserves Bitcoin but also generates it. The company’s reserves, also held in Bitcoin, were reviewed and approved by Willis Towers Watson (WTW). Additionally, Meanwhile offers a Bitcoin Whole Life insurance product that enables policyholders to save, borrow, and build legacy wealth entirely in Bitcoin, with plans for global expansion in 2025.
Tia Beckmann, CFO of Meanwhile, remarked, “We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets. Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.”
In conclusion, Meanwhile Insurance’s pioneering move to publish audited financial statements in Bitcoin not only sets a precedent in the insurance industry but also signifies a shift towards a more decentralized financial system. As the company continues to innovate and expand, it may pave the way for other institutions to follow suit.
**FAQ**
**What is Meanwhile Insurance’s significance in the Bitcoin market?**
Meanwhile Insurance is the first company to publish externally audited financial statements entirely in Bitcoin, marking a significant milestone in integrating cryptocurrency with traditional financial systems.
