The Bahamas accounts for 13 percent of ultra-high-net-worth (UHNW) clients in the United States, who on average own nine homes overseas, according to a study of proprietary data by AIG Private Client Group, a division of the member companies of American International Group, Inc. (AIG).

The study's findings helped the company develop a new multinational property coverage that serves U.S. UHNW clients with considerable overseas assets.

The AIG Private Client Group data looked at trends with clients who pay in excess of $250,000 in annual personal insurance premiums.

Mexico, The Bahamas and the Caribbean were listed as the top three out of five locations for those clients who own homes overseas. The study found that this particular segment of clients owns nine homes overseas, on average, with more than 50 percent of these located in the Americas.

The breakdown includes: 14 percent in Mexico, 13 percent in The Bahamas, nine percent in the Caribbean, 12 percent in England and nine percent in France. The study also found that these UHNW clients have on average "19 regular-use vehicles, $1.7 million in jewelry insured and $19.6 million in fine art insured".

On a global scale, another report found that The Bahamas has an UHNW population - that is, those with at least $30 million in assets - of 45; with three billionaires, with an average age of 62; and an average list price for homes over $1 million of $2.7 million.

That report was published in 2015 by Wealth-X and Sotheby's International Realty, titled "UHNW Luxury Real Estate Report: Homes as Opportunity Gateways".

Xian Smith, Guardian Business Reporter

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