|
|||
 |
|||
 |
|||
 |
|||
       |
|||
By Katrina Baugh
Lifemark, one of the life settlements groups behind Keydata, could be facing liquidation after US hedge fund CarVal pulled a $60m rescue offer.
CarVal entered a six-week exclusivity period with Luxembourg-based Lifemark last month to try and thrash out a deal but this has failed, according to the Life Settlements Wire.
It had already stumped up £3.5m in short-term loans to Lifemark, which ran bonds backing Keydata plans owned by 23,000 customers who invested £350m.
By Darla Mercado
A recommendation by an SEC task force that life settlements be treated and regulated as securities has raised concerns that another turf battle may be brewing between state insurance regulators and federal securities cops.
“We generally have concerns when the federal government pre-empts state authority, and this would be no exception to that, but we’ll reserve judgment until we see what action the federal government will take,” said Connecticut’s insurance commissioner, Thomas R. Sullivan, who is also chairman of the National Association of Insurance Commissioners’ Life Insurance and Annuities Committee.
Commentary by Life Policy Group:
The media and political coverage of the industry and its predilection with ‘bad’ news has created an impression of an industry filled with fraudulent practice and consequently confidence is low. Perhaps these changes will help to raise the industry profile and give investors and regulators more comfort.
Read original article here
Critics say plan to treat all life settlements as securities will shrink the industry – or worse; others say it’s not so
By Darla Mercado
On Thursday, a government task force recommended treating life settlements as securities, thus bringing the instruments under tighter regulatory scrutiny.
On Friday, some market participants backed the idea. But others bashed the plan, claiming that such a proposal would place sizable burdens on providers — and offer little added protection for institutional investors.
Commentary by Life Policy Group:
At this stage unfortunately regulation is needed which may ‘kill off’ some of the smaller players in the market, but it may well produce a more settled and professional industry. These developments are all part of the industry growing up and very much echo the experience of the UK secondary market which began its development perhaps ten tears earlier than the US life settlement market.
Read original article here
New York, NY – June 1, 2010 – Life Policy Group (LPG), a specialist in life settlement investment and policy acquisition, last week conducted its first life settlement investment seminar. Titled, Sweating the Asset: How To Make Sure Your Life Settlement Investment Delivers, the May 19 event at The Yale Club in New York brought hedge funds, family offices, endowments and pension funds together with seasoned life settlement industry executives to discuss trends and developments shaping the growth of this emerging asset class.
“Investors remain hungry for effective strategies that enable them to access the life settlements market. Providing full transparency through an educated and unbiased view of the investment opportunities, weighed with the risks, is key to allow investors to feel comfortable when they invest in this non-correlated asset class.” said Mark Engelhardt, CEO of Life Policy Group. “In providing a forum for investors and industry veterans to come together to share knowledge and opportunities, LPG’s inaugural life settlement seminar underscores our commitment to helping institutional investors, family offices, and broker-dealers tap the benefits of this attractive asset class.”
Participants were treated to three presentations and lively discussion which explored past negative perceptions of this maturing industry, its continued evolution and a range of investment challenges and opportunities. Keynote presentations included:
• Mark Engelhardt, CEO of Life Policy Group, provided a detailed overview of the growth of the life settlement market, addressed misconceptions about the industry and presented the investment options available to investors seeking to enhance their portfolios;
• Brian Casey, Partner at Locke Lord Bissell & Liddell LLP and one of Life Settlement Review’s “Top 10 Most Influential People in the Life Settlement Industry,” reviewed due diligence in life settlement investing and the impact of increased regulation; and
• Bill Potoczak, Joint Owner of Mills, Potoczak & Company, a full service public accounting firm, offered his insights into the role of life settlement servicing.
Brian Casey, Partner at Locke Lord Bissell & Liddell, added, “Bans on stranger originated life insurance or STOLI, an advance in regulations nationwide and the arrival of meaningful transparency within transactions are all examples of how the asset class has matured. However, for investors to take full advantage of the asset class, thorough due diligence and the selection of experienced service providers throughout the investment process remain critical to mitigating risks and achieving the expected returns.”
Steve Oliver, President of ManhattanRidge Advisors, a delegate at the seminar commented, “Combining life settlement industry veterans Mark Engelhardt’s, Brian Casey’s and Bill Potoczak’s insights with a detailed explanation of current investment strategies, LPG provided investors with a thorough exploration of the opportunities and challenges of life settlement investing at every part of the process from policy sourcing and valuation to structuring investment portfolios. I look forward to their next event.”
The LPG seminar series for investors continues this summer. For more details click here.
About Life Policy Group
Founded in 2007, Life Policy Group (LPG) is a specialist in life settlements investment and policy acquisition. Directly and through its subsidiaries, which include Life Settlement Leads and LifeBack, LPG participates in all aspects of life settlement investing providing investment advice and solutions to institutional investors, family offices, broker-dealers, high net worth investors, consumers and other life settlement service providers. LPG applies extensive life settlement expertise and proprietary technology to policy acquisition and valuation, policy and portfolio servicing, and fund management to provide clients with comprehensive life settlement solutions designed to enhance their investment returns.
By Life Policy Group
Over the past few years we have witnessed a big growth in the popularity of life settlements as an alternative investment opportunity. In comparison to other, more traditional asset classes, life settlements offer a non-correlated, market neutral investment opportunity that is independent of the volatility associated with interest rates, the equity markets, global events and property.
According to an October 2008 report, Conning Research estimated that approximately $12 billion in face amount of Life Settlements changed hands in 2007, up from $6.1 billion in 2006. By 2012, Conning estimated that figure will approach $21 billion.
As the market continues to expand, an increasing number of companies are making investment in life settlements funds available to both retail and institutional clients. The list below, which is not exhaustive, includes a number of funds and their managers, some of which Life Policy Group has or is supplying policies to:
Aurora Defined Benefits Funds
The Aurora Defined Benefits Funds
Catalyst Investment Group
The ARM Assured Income Plan
Centurion Managers
Defined Return Fund
Accelerated Life Settlement Growth Fund
EEA Investment Partners (Guernsey)
EEA Life Settlement Fund
Lansdown Atlantic
The Lansdown Atlantic Life Settlement Fund
Life Contracts International Ltd
Senior Life Settlements Asset-backed Securitization Bond
Life Settlements Funds Limited
The Life Settlements Wholesale Fund
Managing Partners Limited – MPL
Traded Policies Fund
Policy Selection
Assured Fund
Select High Security Fund, plc
|
