Tech billionaire buys record-setting $201 million insurance policy

A mystery tech billionaire has just purchased the most valuable life insurance policy ever. It's worth $201 million.
The policy was sold by Santa Barbara, Calif.-based SG, a global advisory firm specializing in complex financial solutions for wealthy clients.
According to Guinness World Records, the $201 million policy beats the previous record for a life insurance policy—a $100 million policy for an unnamed American entertainer.

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SG won't disclose the buyer's name. The company said the single policyholder is a well-known billionaire living in Silicon Valley who is involved in the tech industry, and $201 million would be paid out upon the buyer's death.

Dovi Frances, SG's president and founder, said no single insurance company holds the $201 million risk. He said the policy is split between 19 different companies and none hold "more than $20 million or so" of risk.