Life Settlement News

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

A number of major insurance companies are among the entities that were exposed to the alleged fraud perpetrated by Bernard L. Madoff Investment Securities LLC, according to published reports.

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.

Life Policy Dynamics, LLC (LPD) announced today that Terry Fields has joined LPD as that company’s Director of Operations. In this capacity Mr. Fields will manage the delivery of customized service solutions to a broad range of funding entities, providers, lenders, brokers and agents within the life settlement and senior life insurance markets.

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

Advanced Underwriting Solutions (AUS) announced today that it has been named the preferred vendor of life expectancy underwriting for Asset Servicing Group.

“We strive to build long-term relationships with clients that share our belief in providing exceptional service, a proven track record of experience, and a focus on the customer that is not based on a “one size fits all” mentality. Asset Servicing Group shares these business imperatives and we are thrilled to have them aboard.” commented Traci Davis, President of AUS.

The Peninsula Group, LLC (“Peninsula”) announced today that Jose Garcia has joined their management group as a Senior Advisor.

Two bankrupt investment units of Ritchie Capital Management LLC will pay Coventry First LLC $10 million in exchange for its recognition that they own key documents necessary for the sale of more than 1,000 life insurance policies.

Andrew D. Terrell to Lead New Life Settlements Companies

Institutional Life Services, LLC, (ILS) and Institutional Life Administration, LLC, (ILA), companies newly created by Goldman Sachs, National Financial Partners and Genworth Financial today announced Andrew D. Terrell as their first chief executive officer. ILS andILA are a marketplace and clearing operation, respectively, formed to create acompetitive and compliant institutional marketplace for the settlement of life insurance policies.

Direct-to-consumer sales model builds on leadership positions in structured
settlement and annuity segments.
Specialty finance company J.G. Wentworth, Inc. today
announced that 22 states have granted life settlement provider licenses to its dedicated life settlements