Life Settlement News

Life Partners Holdings, Inc. (Nasdaq: LPHI) today announced net income of $223,743, or $0.02 per share, for the three months ended August 31, 2006 compared to $247,521 or $0.03 per share, reported for the same period last year. Revenues increased by 35% over the same period last year while total business volume, as measured in policy face values transacted, increased by 100% over last year to almost $29 million. For the six months ended August 31, 2006, the company reported net income of $694,735 or $0.04 per share compared to $716,626 or $0.08 per share during the period last year.

Peach Holdings Inc., which earlier this month recommended a takeover by Orchard Acquisition Company, an affiliate of DLJ Merchant Banking Partners, today reported an 81 pct drop in pretax profit for the first half of 2006 to 4.3 mln usd from 22.6 mln the prior year.

The life insurance industry’s need for a flexible, carrier-approved premium-finance program is evident by the overflow of cases received during the phase-one rollout of the Ridge Capital Flexible Premium-Finance Loan.

Peach Holdings Inc, the parent company of consumer finance company Peachtree Settlement Funding said it has recommended an offer from Orchard Acquisition Company, an affiliate of DLJ Merchant Banking Partners (‘DLJMB’), at 3.85 stg cash per share and valuing the whole of Peach Holdings at 404 mln stg.

The life settlement industry is poised for another major growth spurt in the latter half of 2006 as many non-recourse premium financing contracts enter the secondary market, according to life settlement broker John Welcom of Welcome Funds. Life settlements enable seniors to sell existing life insurance policies for sums that exceed their cash surrender values.

Fate continues to shower blessings on the greatest generation. Elderly Americans may soon be able to supplement their incomes by collecting fees from investors who wish to bet on their life expectancy. That, at least, is the fear of the life insurance industry, still wondering how to get the “viatical” genie back into the bottle.

Life Partners Holdings, Inc. (Nasdaq: LPHI) today announced net income of $470,992, or $0.05 per share, for the three months ended March 31, 2006 compared to $469,105 or $0.05 per share, reported for the same period last year. Revenues increased by 25% over the same period last year while total business volume, as measured in policy face values transacted, increased by 59% over last year to almost $29 million.

Peach Holdings eased ahead today after the US specialty finance company reported a big increase in full year profits and said the current year has started “encouragingly”.