Life Settlement News

On November 8-10, life settlement professionals from all walks of life will converge on New York City for the Life Insurance Settlement Association’s (LISA) 15th Annual Fall Life Settlement Conference. As 2009 winds down and the US economy shows signs of leveling, LISA proudly brings together sophisticated investors, institutional funders and other life settlement professionals for an intimate three day meeting. The LISA Fall Conference comes in the midst of a significant show of interest by the federal government and the general public. With hearings on Capitol Hill, increased activity on Wall Street and a surge in mainstream media, the life settlement industry is poised to make major gains in investment influx and public awareness.

Yesterday on Capitol Hill, Russel Dorsett, President of the Life Insurance Settlement Association (LISA) testified before Congress on the benefits of life settlements to American consumers. In testimony to the House Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, Mr. Dorsett reported that American consumers have benefited greatly from the life settlement market and have received nearly $10 billion over the past decade, “making it possible for them to afford retirement, medical care, or simply to enjoy the lifestyle they have earned,” said Dorsett, continuing: “The average settlement pays policy owners 4 to 6 times the policy’s cash value.”

The Institutional Life Markets Association outlined today the major differences between life settlement securitizations and the securitization of mortgages during testimony before the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.

As the global economy starts to show signs of a recovery, investors and their advisors are increasingly recognizing life settlements as a stable and viable 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.

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

KPMG was appointed receiver and manager of all of the property of New Life Capital Corp. and its related entities by the Superior Court of Justice this week.

AllFinancial Group LLC (“AFG” or the “Company”) announces that in the midst of recent life settlement market dislocations, it has immediately available capital to provide liquidity in the form of short term, or “bridge” loans to life settlement investors, including providers that may be holding policies for their own accounts.

Proverian Capital is a premier life settlements provider based in New York City.

Johan’s address will focus on the importance of accurate life expectancy determinations as the most impactful and misunderstood factor in accumulating a performing Life Settlement portfolio. He will talk about the three “wrecking balls” that affected the life settlement industry in 2008 and what can be done about them

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.