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National Underwriter Life and Health
By: Trevor Thomas
A life settlement think tank is defending the value of the life settlement securitization concept.
The American Council of Life Insurers, Washington, asked Feb. 3 for policymakers to ban the securitization of life insurance policies sold in the secondary market. Packaging pools of life settlement transactions to back securities encourages stranger-originated life insurance and other forms of fraud, the ACLI says.
National Underwriter Life and Health
By: Trevor Thomas
Several life settlement organizations have reacted strongly to the American Council of Life Insurers’ recent statement calling for a ban on the securitization of life settlements.
“Once again. ACLI has chosen to mix apples and oranges when condemning the life settlement market,” said Jack Kelly, director of government affairs for the Institutional Life Markets Association, Washington. He was responding to a policy statement from the ACLI, Washington, holding that the securitizations of life insurance settlements should be prohibited by legislation and regulation.
Commentary by Life Policy Group:
It’s good to hear the comments of Jack Kelly. Let’s hope that there are more people in government affairs who will stand up and be counted.
Investment News
By: Darla Mercado
The American Council of Life Insurers is asking policymakers to bar the securitization of life settlements. The group said yesterday that securitization would encourage promoters — keen on developing a secondary market — to entice seniors to sell their life insurance policies, even when it’s not in their best interests to do so.
Technorati (blog)
By: Christian Evulich
1. Life settlement buying activity will return at an incremental and measured pace as institutional funds find increased liquidity and easing pressure from balance sheet issues.
2. Feverish talk of large scale life settlement securitization will increase and bring more attention to the industry. This will of course feed speculation that the life settlement market is finally poised to reach the $60 billion plus potential it has long been rumored to have. Although, the industry will fall well short of anything near a $60 billion market in 2010.
Commentary by Life Policy Group:
Is securitization possible on such a large scale using a real rather than a synthetic product, and will the market grow to $60 billion?
Reuters
By: Nancy Leinfuss
Betting on a person’s mortality may be the safest bet on Wall Street these days as investors shun shaky financial markets and opt for securities backed by the certainty of death.
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