Life Settlement News

Firm’s administrator to negotiate emergency loan for stricken Keydata business to prevent portfolio from insolvency.

KPMG’s Eric Collard will this morning (June 27) arrive in London to hold crunch talks with the Financial Services Compensation Scheme (FSCS), over an emergency loan for stricken Keydata firm Lifemark.

Luxembourg-based Mr Collard is to discuss the terms of a proposed $10m (£6.3m) stopgap solution to keep Lifemark’s portfolios of traded life settlements from collapsing into insolvency.

ATLANTA (AP) — Americans are living longer, but not in every corner of the country. A new study shows that in hundreds of U.S. counties — mostly in the South — life expectancy has fallen.
The researchers believe problems like smoking and obesity are partly to blame.

“There are enormous variations within the country” said Dr. Christopher Murray, a University of Washington researcher. He’s a study author and an editor of the online journal, Population Health Metrics, which released the study Wednesday.

(Reuters) - Life Partners Holdings Inc said it received an amended Wells Notice from U.S. regulators, which includes allegations on disclosure regarding its accounting policies and practices.

Last month the company, which is active in the secondary market for life insurance, had received a Wells Notice in May for proposed civil action related to accuracy of estimates of life expectancies of settlers.

NEWARK, N.J.—(BUSINESS WIRE)—Prudential Retirement announced today the successful completion of its first longevity reinsurance transaction. Under the terms of the transaction, Prudential Retirement will provide reinsurance of longevity risk to U.K.-based Rothesay Life, a wholly-owned subsidiary of The Goldman Sachs Group, Inc., initially covering pension account values of GBP 100 million, approximately equal to $160 million U.S. dollars. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

(Reuters) - Agents with the Labor Department visited the offices of a Connecticut life settlement investment firm on Friday seeking information as part of an investigation, according to two sources.

Today is Friday the 13th and the date that is so often associated with bad luck proved so again for Life Partners Holdings, Inc.  The company’s stock, which trades under the ticker LPHI, plummeted following the filing of an 8-K stating that they had received a “Wells notice” from the SEC on May 9th.

Washington, D.C. -– In October of 2010 LEPr announced the formation of a focus group that would be creating best practices standards to the life settlement and longevity markets.

The European Life Settlement Association has elected the following officers at its Annual General Meeting:

MT. KISCO, N.Y., March 7, 2011 /PRNewswire via COMTEX/—Chronos Life Group today announced the recent acquisition of J.P. Morgan’s life settlements assets and a majority stake in Life Equity LLC, a prominent originator and servicer of life settlements. With these acquisitions, Chronos is acquiring a high quality portfolio of life settlements with an aggregate face value of approximately $1 billion. The life settlement portfolio will be managed by Chronos’ asset manager, Chronos Investment Advisors.

New York, NY, December 1, 2010 – Proverian Capital, LLC (“Proverian”)
announces that it is now buying life settlement policies for a large
financial institution. Proverian was founded in 2005, and has established
itself as a leader in the secondary life insurance market.