Life Settlement News

Centurion Fund managers has obtained regulatory approval in Luxembourg for what it said is the first open-ended fund to combine macro and micro longevity life settlement exposure.

Innovative New Platform Allows Islamic Investors to Diversify Holdings Using an Uncorrelated Asset Class

The Lifetrade Fund B.V., has received a Standard & Poor’s Credit Quality rating as a life settlement investment fund. Lifetrade is the first open-ended fund to receive such a rating from Standard & Poor’s in the secondary life insurance market.

Life-Exchange member, European Life Settlements Management announced today the launch of their new Luxembourg based life settlements fund, the European Life Settlements Fund. Under the supervision of the Luxembourg Financial Authorities the fund will provide investors with the much needed transparency and regulatory oversight necessary to successfully invest in life settlements.

Old Mutual Plc., one of London’s largest insurers dropped as much as 9.4% in UK trading today after announcing a charge of $502 million to its Bermuda based unit stemming from failed hedges. The company said that unless market conditions change they may see an additional charge of $30 million.

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.

European Life Settlements Management formerly Abacus Life Settlements Management has changed their trade name this week to eliminate market confusion between themselves and the US life settlement provider firm Abacus Settlements, LLC.

Legacy to Expand into Life Settlement Portfolio Trading

Legacy Benefits Corporation (New York), a recognized leader in the life settlement industry, announces a strategic partnership with Mofet Holdings, Ltd. 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 will acquire for cash a 50 percent interest in Legacy Benefits, LLC.

Advanced Life Settlements Management, B.V. (“Advanced LSM”), a specialized Dutch firm active in life settlements responded to rumours today of a possible alliance with a major US investment bank.

Ritchie Capital Management Ltd. sought bankruptcy protection for two Dublin-based funds after they lost more than $700 million on life insurance investments.