MLF Lexserv

They utilise exactly the same principles as an annuity.

Until the Keydata collapse not much was written about Life Settlements, which is odd given that the underlying problems with the Keydata issue are nothing to do with the asset class itself.

Life settlements are not new and have actually been around for a while - nearly 100 years to be precise. What is new is the number of recent market entrants trying to promote something perceived as new, with relatively little substance behind them.

The U.S. District Court for the Southern District of New York recently ruled on the parties’ motions for summary judgment in Settlement Funding, LLC v. AXA Equitable Life Ins. Co., No. 09 CV 8685 (HB) (S.D.N.Y. Sept. 29, 2010), holding that egregious facts may permit an insurer’s rescission of a life policy after expiration of the policy’s two-year incontestability period. Plaintiff Settlement Funding, the assignee of a $5 million insurance policy on the life of Esther Adler, sought summary judgment on its claim for recovery of insurance proceeds following Ms.

The specialist asset manager said the asset class was appealing because of its low correlation, low volatility and returns of nine to ten per cent, however it required sophisticated investors.

Life Settlements funds operate by buying the legal rights to multiple US life policies, paying policy premiums and generating a return by collecting the entire death benefit of the policy upon the death of the insured.

SL Investment said the lack of a standard valuation base meant it was very difficult to compare one fund with another.

The Life Insurance Settlement Association (LISA) board voted unanimously yesterday to offer the top staff job to Darwin Bayston, according to a person familiar with the situation.

Bayston recently became director of consulting at AVS Underwriting, a Kennesaw, Ga.-based life expectancy provider. Before that, he had been managing director of Life Settlement Consulting & Management since 2004.

Doug Head is the current executive director of LISA. Head earlier announced plans to retire at the end of the year.

European Life Settlement Market Comes of Age
Trade Association Launched to Represent Eur9.5bn Asset Class
Europe’s life settlement industry officially comes of age today with the launch of its
new trade body, the European Life Settlement Association (ELSA). The association
has been established to promote highest standards, and to educate and inform retail
and institutional investors seeking assets that are uncorrelated with equities and
unaffected by volatility in global markets. The launch of ELSA follows a survey of

Major Life Expectancy Providers (LEPr) have formed a focus group to provide best practices standards and transparency to the life settlement and longevity markets.

WASHINGTON--(BUSINESS WIRE)--In his opening remarks to over 200 industry participants attending Fasano’s 7th Annual Life Settlement Conference, Michael Fasano, President of Fasano Associates, called for more transparency from life settlement intermediaries.

“We should not minimize the real differences that continue to exist among Life Expectancy underwriters and we should be willing to present Actual to Expected experience based on the actual life expectancy estimates given to our clients, and not limit our disclosures to hypothetical results based on adjusted estimates.”

The trade body for the traded life settlement market, the European Life Settlements Association, has issued a code of practice for its members designed to increase protection for investors.

Elsa says: “Members must either comply with the code or face suspension and ultimately expulsion from the association.”

In February, FSA head of investment policy Peter Smith said he had “significant concerns” about levels of transparency in the industry in a speech at the Elsa trade mission in London.