Life Settlement News

Advanced Underwriting Solutions (AUS) announced today that it has been named the preferred vendor of life expectancy underwriting for Cambridge Guarantee Limited.

The Kentucky House of Representatives has taken an important
step to protect life insurance consumers with a ban on stranger originated life insurance (STOLI) schemes,
according to the Life Insurance Settlement Association. HB 348, unanimously passed last week, protects
consumers by succinctly and directly prohibiting initiation of life insurance for wager purposes—without rolling
back a policy owner’s property right to gain or utilize the market value of a properly initiated policy as he sees
fit.

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.

The Life Insurance Settlement Association (LISA) kicks off this weekend in New York City, what promises to be its largest conference ever. The LISA 13th Annual Fall Conference begins this Sunday with a reception welcoming more than 500 registered attendees. The following two days offer attendees an extraordinary lineup of prominent speakers addressing the most significant issues facing the life settlement industry to date. The conference presents a constructive platform for attendees to engage each other on the latest industry research, business developments and legislative updates, among many other issues. Participants will take advantage of the exclusive networking opportunities available in a variety of forums.

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.

The Life Insurance Settlement Association published a graphic representation of the life settlement process. “This is our effort to clear up some of the mystery and misinformation surrounding the process so that everyone can work from a common understanding,” says LISA Executive Director, Doug Head.

LISA
The month of September will offer a unique opportunity for producers and brokers in the burgeoning market of life settlements. The Life Insurance Settlement Association is presenting a day long Producer Seminar on September 24th and a day-long Broker Summit on September 25th in sunny Orlando, Florida. The producer seminar offers life insurance professionals from all industry segments a singular opportunity to expand their professional portfolios.

Integrity Capital Partners (Bethesda, MD), is proud to have been recognized in the July 27th addition of the “Washington Business Journal” as the 16th largest Insurance Agent/ Broker in the Washington Metropolitan Area, and its inclusion in the Journal’s Annual Book of Lists. The Washington DC Metropolitan Area is the 5th largest in the Nation.

Since 2001, Integrity has been intimately involved in all aspects of the specialty finance industry and in particular, those related to the life settlements arena and carrier approved premium financing.

Institutional Investor Journals and the Life Insurance Settlement Association Publish New Research and Investment Strategies in a Special Section on Life Settlements in The Journal of Structured Finance

Life settlement-backed securities have seen tremendous growth in the past 12 months. The life settlement market expanded in 2006 to approximately $12 billion. While this number is still a fraction of what some predict will be the size in 10 years, it still represents a significant increase over the prior year. The market for life settlements grows as financial institutions become involved in unprecedented ways via securitization of life insurance policies or other new synthetic structures.
For the second year, Institutional Investor Journals and the Life Insurance Settlement Association (LISA) have published a special section on life settlements in the Summer 2007 issue of The Journal of Structured Finance.

The Life Insurance Settlement Association (LISA) today renewed its objections to the recent amendments to the NAIC Viatical Settlement Model Act, after it was revealed that both the primary author of the model and its key supporter, the American Council of Life Insurance (ACLI), knew that the model act failed to address the problem of stranger originated life insurance (STOLI). LISA has repeatedly raised concerns about the highly unorthodox process and closed-door tactics which were used to develop and adopt the amendments and has held firm that the model does not stop what the NAIC has already identified as the improper manufacturing of life insurance.