Life Settlement News

Insurance mogul Barry Kaye, who has told Florida Atlantic University he will not fulfill his $16 million pledge to the school, is now facing a federal lawsuit in relation to his once mega-profitable life settlement business.

Former insurance magnate Barry Kaye has told Florida Atlantic University fundraisers he is unable to fulfill a $16 million pledge, the largest in FAU’s history.

The month of August will offer a unique opportunity for brokers and service providers in the burgeoning market of life settlements. The Life Insurance Settlement Association is presenting a Broker Summit on August 7th and an Industry Services Forum on August 28th. Both events will be held in sunny Orlando, Fla., and feature panel discussions, an exhibitor marketplace and above all, plenty of opportunity to network.

712 top-tier bank holding companies reported BOLI assets, up from 696 in 2007

Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.

Hartford chief steps down amid turmoil. Company will start searching for an outside replacement immediately.

Three life and health insurers have become financially “impaired” so far this year and more carriers are expected to follow, according to a report by A.M. Best.

Life-Exchange, Inc., (OTCBB:LFXG), the nation’s leading trading platform for the life settlement industry, announced today its third quarter 2009 financial results for the three months ended March 31, 2009.

Leading life expectancy underwriter, Fasano Associates, announced the development of an automated life expectancy calculator. The LE Calculator will be used as a screening tool for life settlement acquisitions and to assist individuals in financial planning applications.

The Financial Industry Regulatory Authority Inc. might issue guidance in coming weeks regarding fees firms can charge for life settlement transactions, a Finra executive said today in Boston at the agency’s annual meeting.