Life Settlement News

European Life Settlements Management formerly Abacus Life Settlements Management has changed their trade name this week to eliminate market confusion between themselves and the US life settlement provider firm Abacus Settlements, LLC.

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.

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.

Lawrence S. Brown, Ryan A. Young and Robert F. Haran are pleased to announce the formation of 4Pluris, LLC, headquartered in Bethesda, Maryland.
4Pluris originates structured financial products for institutional investors seeking to benefit from the attractive short and long term investment returns available to risk oriented capital in the life insurance marketplace. 4Pluris is also active in assisting insurance professionals and financial advisors, and their clients, in taking advantage of the myriad of wealth creation and wealth preservation opportunities in the rapidly evolving life insurance sector.

Secondary Life Capital, LLC
(“SLC”) announced today that the State of Mississippi has granted their life settlement provider license. In addition to Mississippi, SLC was recently awarded a life settlement provider license in both Texas and Tennessee. Founded in 2003, the Washington DC based firm is a leading provider of life settlements and life settlement portfolios to institutional investors worldwide.

Habersham Funding, LLC, a Georgia-based firm that does business nationally, has been licensed as a viatical settlement provider in California. Habersham, which was founded in 2001 by settlement industry pioneer M. Bryan Freeman, provides the funds for viatical and life settlements, which enable seniors who no longer want or need their life insurance to receive an advance cash payment for their policy, or those with a terminal illness to live with dignity in their last days.

The Florida Office of Insurance Regulation (Office) today issued a Notice and Order to Show Cause to Coventry First LLC alleging violations of the Florida Insurance Code and for “engaging in fraudulent or dishonest practices.” Coventry First LLC, founded in 1999, engages in the purchase of life insurance policies of elderly individuals in exchange for cash payments.

Life Policy Dynamics, LLC, (“LPD”) announced today the completion of its 4th quarter market analysis of the life settlement industry. The market analysis provides life settlement funders and premium finance lenders an independent summary of economic values for life policies recently traded in the secondary market. The analysis is based upon a sample of actual transactions completed during the fourth quarter of 2006.

As part of Ridge Capital Group, LLC’s commitment to quality, premium-finance products and strict compliance with industry regulations, the company today is announcing its support of the Life Insurance Finance Association’s statement of best practices.

Due to Trinity Financial Services’ recent growth, success and desire to strengthen their position in the marketplace, they have chosen to obtain Errors and Omissions (E&O) Coverage. This will allow them to solidify pending agreements with a number of nationally recognized Broker-Dealers.