Life Settlement News

State insurance regulators Monday voted in favor of a proposal that would allow carriers to terminate an annuity living or death benefit if a client sold the contract over the secondary market.

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.

Agreement Outlines Industry Best Practices; No Fine or Penalty Assessed

Coventry announced the launch of Montgomery Portfolio Services today, providing institutional owners of longevity-linked portfolios with access to the industry’s leading servicing platform.

The Lifetrade Fund B.V., has received a Standard & Poor’s Credit Quality rating as a life settlement investment fund. Lifetrade is the first open-ended fund to receive such a rating from Standard & Poor’s in the secondary life insurance market.

Life-Exchange, Inc., (OTCBB:LFXG), the nation’s leading trading platform for the life settlement industry, announced today its third quarter 2009 financial results for the three months ended March 31, 2009.

The Financial Industry Regulatory Authority Inc. might issue guidance in coming weeks regarding fees firms can charge for life settlement transactions, a Finra executive said today in Boston at the agency’s annual meeting.

Life-Exchange, Inc. (OTCBB: LFXG) announced today an exclusive joint venture with MediSummary. MediSummary is a specialty medical underwriting firm with a focus on the life settlement and premium finance market. Founded in 2006 by Cristina Fossati and headquartered in Coral Gables, FL the firm counts more than 50 different financial institutions as clients. Beginning February 1, 2009 Ms. Fossati and her team will begin offering their services exclusively through Life-Exchange.

Life Partners Holdings, Inc. (NasdaqGS: LPHI) today announced that its Board of Directors has approved a 5-for-4 split of the company’s common stock which will be paid in the form of a stock dividend on February 16, 2009 to shareholders of record as of February 6, 2009.

KPMG was appointed receiver and manager of all of the property of New Life Capital Corp. and its related entities by the Superior Court of Justice this week.