Life Settlement News

Today, Russel Dorsett, President of the Life Insurance Settlement Association (LISA), released the following statement:

Responding to the American Council of Life Insurers (ACLI) policy statement that the securitizations of life insurance settlements should be prohibited by legislation and regulation, Jack Kelly of the Institutional Life Markets Association (ILMA) said “once again ACLI has chosen to mix apples and oranges when condemning the life settlement market. The recent policy statement issued by ACLI concerning securitization of life settlements is misplaced and incorrect.”

Life settlement packagers target B-Ds. But private placements of policy-backed securities raise concerns among independent broker-dealers. For the first time they can recall, several independent broker-dealers have been solicited by life settlement companies to sell private placements of securities based on life insurance policies.

Life Partners Holdings, Inc. (NASDAQ GS: LPHI), a leader in the life settlements industry, announced today that it has been advised by Eide Bailly LLP that the firm has resigned as the Company’s independent registered public accounting firm effective January 13, 2010.

In anticipation of the first-ever cross continental life settlement trade mission, event coordinators have released a complete and detailed agenda for public access. The 2010 Life Settlement Trade Mission (February 23-26) is a mutual effort by the two leading trade groups for their respective continents: in North America, the Life Insurance Settlement Association (LISA) and in Europe, the European Life Settlement Association (ELSA). The stated objective of the Trade Mission is to establish “a new standard for accuracy of information and a realistic presentation of the challenges and opportunities in the life settlement marketplace.”

Crump Life Insurance Services has purchased the assets of a life settlements company.

Life Partners Holdings, Inc. (Nasdaq GS: LPHI), parent company of Life Partners, Inc., announced today that it has paid the $0.25 per share quarterly dividend to shareholders of record as of November 6, 2009 as previously announced.

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.

To elevate life settlement knowledge and expertise nationwide, Invescor, Ltd., in partnership with the National Underwriter Company, has launched the most authoritative and comprehensive online life settlement training program in the country.

Program Offers CE Credit, Addresses Broker-Dealer Firm Element Requirements

The Life Insurance Settlement Association announced the passage of a new law in New York that establishes comprehensive regulation of Life Settlements in that state. The new law introduced at the request of the New York State Insurance Department by Senator Neil Breslin (S66009) and Assemblyman Joseph Morelle (A40009), is based on the National Conference of Insurance Legislators (NCOIL) Life Settlement Model Act.