Life Settlement - Servicing News

Managing Partners (MPL), the Cayman Islands-based fund management group that invests in traded life policies, has launched a new sterling share class of its Traded Policies portfolio, the GBP Growth Class.

A wholesale fund that enables investors to gain exposure to life insurance policy settlements is now available in Australia.

The fund works like a fixed interest investment as the portfolio managers trade life settlements on the secondary market where the policies are sold at a discount to each policy’s face value.

The Life Insurance Finance Association (LIFA) board of directors voted today to open its membership to insurance producers, agents and financial advisors.
Under the revised dues structure, professionals involved in the sale of life insurance and who act as advisors to consumers who purchase life insurance are invited to join the growing membership of the association.

Zohar Elhanani has been named chief operating officer for Legacy Benefits Corporation (New York), a recognized leader and innovator in the life settlements industry. In his new position, Elhanani will spearhead the company’s growth through accelerated acquisition of high-quality life settlement assets and a new emphasis on the company’s ongoing national leadership in defining the industry’s best practice standards.

The American Council of Life Insurers (ACLI), the Association for Advanced Life Underwriting (AALU), the National Association of Insurance and Financial Advisors (NAIFA), and the National Association of Independent Life Brokerage Agencies (NAILBA) are calling for changes to state regulation to protect the vital, social purposes of life insurance from transactions known as stranger-originated life insurance (STOLI).

The Life Settlement Institute (LSI), the leading organization representing secondary market providers for life insurance, reaffirmed today its pro-consumer and pro-competition efforts to regulate life settlements.

ISC Services  has successfully been registered with the State of Florida Office of Insurance Regulation (OIR) as a Life Expectancy provider. While Florida is the largest source of Life Settlement contracts in the US, the Florida legislature has only recently required Life Expectancy providers to become registered with OIR. As one of only four registered Life Expectancy providers in the state of Florida, ISC Services is uniquely positioned to provide industry-leading Life Expectancy services to the Life Settlement industry.

Life Insurance Finance Association to Host First Conference; Conference to Bring Members of Insurance Industry Together and Celebrate Organization’s First Year in Existence

Formed last year to address emerging matters affecting the life insurance premium finance market, the Life Insurance Finance Association (LIFA) has had great success in working cooperatively with insurance carriers, regulators, other associations, and consumers, and has issued an industry-approved code of conduct.

Ernst & Young LLP today announced its Global Insurance Center will be the lead sponsor of the 2006 Annual Executive Conferences for the Insurance Industry that address “Managing Change” in the Property/Casualty and Life/Health sectors. The events are organized by The Conference Group, Ltd., a division of National Underwriter Company.

As part of Ridge Capital Group, LLC’s commitment to quality, premium-finance products and strict compliance with industry regulations, the company today is announcing its support of the Life Insurance Finance Association’s statement of best practices.