Life Settlement News

In anticipation of the first-ever cross continental life settlement trade mission, event coordinators have released a complete and detailed agenda for public access. The 2010 Life Settlement Trade Mission (February 23-26) is a mutual effort by the two leading trade groups for their respective continents: in North America, the Life Insurance Settlement Association (LISA) and in Europe, the European Life Settlement Association (ELSA). The stated objective of the Trade Mission is to establish “a new standard for accuracy of information and a realistic presentation of the challenges and opportunities in the life settlement marketplace.”

Standard & Poor’s Ratings Services says that it sees inherent risks in securitizing life settlements and that it won’t be rating this type of investment any time soon.

With interest in the life insurance settlement industry at an all time high, industry founder Wm. Scott Page today warned of a “carpet-bagger” mentality that could be troublesome for the industry. Page, president and CEO of www.thelifeline.com, says that an increasing number of operators are rushing into the industry and promising unrealistic and untenable returns.

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.

In an uncertain economic environment, baby boomers are reconsidering their retirement needs and taking a closer look at their financial outlook. Many of them are revisiting their life insurance needs and finding that a life settlement option could be a great way to raise cash during this economic downturn.

The month of August will offer a unique opportunity for brokers and service providers in the burgeoning market of life settlements. The Life Insurance Settlement Association is presenting a Broker Summit on August 7th and an Industry Services Forum on August 28th. Both events will be held in sunny Orlando, Fla., and feature panel discussions, an exhibitor marketplace and above all, plenty of opportunity to network.

“The US secondary market for traded life insurance policies has reached a respectable size and matured significantly over the last decade. Given this trend a broad range of products have been developed and launched offering investors access to life settlements as an alternative asset class, however, investors have thus far lacked a reliable benchmark which reflects the performance of the various funds dedicated to this market. This issue has been solved with the launch of the AAP Life Settlement Index, “says Beat Hess, Managing Partner of AA-Partners Ltd.

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.

Finance IQ, a division of the International Quality & Productivity Center (IQPC), will hold its 5th Insurance Linked Securities Summit January 28-30, 2009 at the Millennium Broadway Hotel in New York City (www.iqpc.com/us/ils). A diverse group of the foremost ILS professionals will provide comprehensive views and strategies surrounding this non-correlated asset class on the life and non-life sides of the market.

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.