Life Settlement News

Leading life expectancy underwriter, Fasano Associates, announced the development of an automated life expectancy calculator. The LE Calculator will be used as a screening tool for life settlement acquisitions and to assist individuals in financial planning applications.

Advanced Underwriting Solutions leads the life expectancy (LE) market in a trend toward transparent reviews. In an environment of recent economic uncertainty, AUS continues to lead with the philosophy that it is vital to focus on consistency in the methodology and tracking of Senior Market impairments that have mortality implications affecting life expectancies. The LE’s provided by AUS provide in-depth detail on medical impairments combined with ICD codes - this allows investors a clear understanding of how to appropriately bucket risks within their portfolios.

Fasano Associates released the Agenda for its 5th Annual Life Settlement Conference, to be held on Wednesday, November 5, 2008 at its headquarters in Washington, D.C.

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.”

After much anticipation the SOA/AAA Valuation Basic Table Team, a subgroup of the Preferred Mortality POG, has completed their work on the 2008 VBT.

Investors in settled life insurance policies need to thoroughly understand
the impact of underwriting and mortality assumptions on investment performance, according to a new analysis
issued today by Phoenix Life Solutions, a subsidiary of The Phoenix Companies, Inc. (NYSE: PNX).

Value Life Corporation (VLC), a premier provider of actuarial and advisory services to the life settlement and premium finance industries, announced today the launch of Instant On-Line Valuation™.
Instant On-Line Valuation™ is a web-based service which provides real-time calculations of actuarial values for
Life Settlement and Premium Finance transactions.

The Life Insurance Settlement Association announced its strong support today for the recently introduced bill in the District of Columbia City Council to regulate life settlements in that jurisdiction. This legislation, introduced at the request of the D.C. Department of Insurance, Securities, and Banking, comprehensively protects life insurance policyowners by imposing tough licensing requirements on settlement providers and brokers and thorough oversight of interactions with consumers, including an important new set of disclosures and affirmations designed to buttress insurable interest requirements and prevent STOLI (stranger originated life insurance).

Genstar Capital, LLC and Boston Ventures announced today a majority investment in 21st Services, in partnership with management. The Minneapolis, Minnesota based Company is a leading provider of mission critical, life expectancy information that is currently used in the life settlement industry, the secondary market for life insurance, and with new applications planned to be launched in coming years.

As part of its efforts to support the premium finance industry through effective regulations, legislation, industry best practices and educational events, the Life Insurance Finance Association (LIFA) has announced an expansion to its membership.
Currently open to premium finance lenders and insurance producers, LIFA’s membership is now extended to any organization assisting in premium finance business, such as life expectancy underwriters, legal counsel and other professionals.