Life Settlement News

Hirshorn To Spearhead Capital Markets Activities

Legacy Benefits, LLC announces the addition of Mark Hirshorn to head its Capital Markets efforts. Prior to joining Legacy, Mark spent two years as Director, US Securitization at Fortis Securities LLC in New York. He focused on client-based transactions and projects involving structured solutions in the global markets. Prior to joining Fortis, Mr. Hirshorn spent ten years at Bayerische Hypo- und Vereinsbank where he managed the bank’s US securitization efforts.

Hirshorn will lead the company’s capital markets initiatives, developing and marketing life settlement based products and structures while establishing relationships with an expanded group of institutional clients. Hirshorn said, “This is a unique opportunity to help an established and respected organization build out its funding platform and origination capacity.

Leveraging my experience, and the skills developed over the past twenty years, I look forward to helping Legacy reach its full potential in the global markets.”

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

This joint venture is just the first step in a goal to provide an end to end solution to the life settlement industry.

Value Life Corp(VLC) and Chapman, Hext & Co., P.C.. (CH&Co) have formalized a joint venture to bring VLC’s software and actuarial resources and CH&Co’s back office and accounting expertise to investors with all sizes of portfolios.

Peachtree Life Settlements announces that it has recently renewed two credit facilities for the acquisition of life settlements. Together, these credit facilities total $500 million and allow for the acquisition of approximately $900 million of policy death benefits.

Life Partners Holdings, Inc. (NASDAQ GM:LPHI) announced today that its previously announced 5-for-4 stock split will be paid on September 27, 2007 to shareholders of record as of September 14, 2007.

Peachtree Life Settlements is pleased to announce the launch of Life Settlement Trading operations which it commenced in the first quarter of 2007. This new endeavor has made a strong start with policies representing over $200 million in net death benefit sold to institutional counter-parties in the first quarter of 2007. Peachtree Life Settlements has appointed Senior VP Sergio Salani as the head of these activities, and his efforts resulted in several block sales with European banks.

Recent share market volatility caused by the fall in the Chinese equity market has illustrated the value of including non-market correlated assets in an investment portfolio, according to an industry fund manager. An example of an asset displaying these characteristics is the Life Settlements Wholesale Fund, which has experienced significant growth since its launch in July of last year.

Legacy Benefits Corporation (New York), a recognized leader and innovator in the life settlements industry, announces a major new effort aimed at attracting a greater volume of policies from today’s growing number of sellers and at originating an ever-larger number of life settlement assets for its institutional clients. Supporting this effort is an ongoing expansion of professional staff, corporate offices and IT infrastructure.

Peachtree Life Settlements is pleased to announce that it has closed on a $500 million credit facility for the acquisition of life settlements. This new facility gives Peachtree Life Settlements the capacity to purchase an additional $1.5 billion in life insurance policies. This development will add to Peachtree Life Settlements’ ongoing presence as a pioneer in providing institutional financing for the life settlement market.

In light of recent revelations regarding the mass purchase of investor-initiated life insurance at Oklahoma State University, state legislators and regulators should beware of protectionist measures sponsored by life insurors, says Doug Head, executive director of the Life Insurance Settlement Association.