Industry News Archive
Legacy Benefits and Mofet Holding Announce Closing of Strategic Investment
Legacy Benefits Corporation a recognized leader in the life settlement
industry, announces the closing of the transaction of a strategic partnership with Mofet Holdings, Ltd. which
aims to broaden Legacy’s role as principal in the origination and trade of life insurance settlements and
portfolios. As part of this new alliance, Mofet U.S. Holdings, Inc., a subsidiary of Mofet Holdings, Ltd., acquired
for cash a 50 percent interest in Legacy Benefits, LLC, a newly formed subsidiary of Legacy Benefits
Corporation. Mofet Holdings is a subsidiary of Kaman Holdings, both public Israeli companies with investments
in a wide range of business sectors worldwide.
Supporting Legacy Benefits’ strategic growth plan, the Mofet investment will enable Legacy to expand on its
acquisition and trading strategy by purchasing a broader spectrum of policies, which will be warehoused,
resold individually or as blocks in the active secondary market.
This transaction will also enable Legacy to further expand its access to the international capital markets. Meir
Eliav and the Legacy management team will continue to lead the Legacy Benefits organization.
About Legacy Benefits
A recognized leader in the life settlement industry, Legacy Benefits Corporation pioneered this burgeoning
specialty finance field over 16 years ago and today maintains its reputation as an industry innovator. Since
1991, Legacy Benefits has specialized in the origination, servicing and management of life insurance assets
for a broad range of institutional clients. It utilizes an ever-evolving array of sophisticated analytical tools and
upholds the highest ethical standards when evaluating and acquiring insurance policies for its institutional
clientele. Legacy Benefits was founded by company president Meir Eliav, a 30-year financial services veteran,
who was a founding member and past-president of the Life Insurance Settlement Association (LISA), the
largest U.S. trade association in the industry.
In 2004, the innovative firm became the first ever to originate a portfolio of life settlement assets for a
securitization transaction underwritten by Merrill Lynch and rated A1/Baa3 rating by Moody’s Investor
Services. Visit the company’s website at www.legacybenefits.com.
About Kaman Holdings and Mofet Holdings
Kaman Holdings, a public Israeli company invests through its subsidiaries in trade, manufacturing, retail, real
estate, financial services and information technology. The group, which has invested in 24 companies to date,
focuses on mature companies possessing quality management teams, reputations and growth potential. Mofet
Holdings Ltd. a public investment company, is a subsidiary of Kaman Holdings.
Contact:
Zohar Elhanani
Chief Operating Officer
.(JavaScript must be enabled to view this email address)
1-800-875-1000 Ext. 221
