19th Annual Spring Life Settlement Conference
The Life Insurance Settlement Association (LISA) will host its 19th Annual Fall Life Settlement Conference in Orlando at the Peabody Resort between October 9-11, 2013.
This premier event in the life settlement market will welcome attendees from around the globe who will discuss and explore numerous topics surrounding the revitalized life settlement market.
The topics, speakers and attendee participation will focus on the growing industry, including presentations aimed at increasing consumer awareness and policy submissions and attracting institutional capital to the market.
- Life Settlement Companies
- Hedge Fund Managers
- Investment Bankers
- Mutual Fund Managers
- Family Office Managers
- Financial Advisors
- Pension Plans & Endowment Sponsors
The Life Insurance Settlement Association held its 19th Annual Spring Conference in Las Vegas on May 29th-31st. “The conference delivered a sense of awareness and urgency to the new opportunities available in the life settlement industry over the next decade,” said Alan Buerger, Chairman of LISA.
“The conference was a resounding success,” added Darwin Bayston, President of LISA, who reported that the conference hosted more than 170 registered attendees representing participants from within and outside of the life settlement industry.
Among the highlights of the conference was a presentation from Professor Narayan Naik of London Business School of a study of more than 9,000 settled life insurance policies totaling more than $24 billion of death benefits. Professor Naik reported that the study confirmed consumers received an average of more than four times the amount they would have received had they surrendered their policies back to life insurance carriers. The study also concluded that the average internal rates of return investors could have expected to make over the past decade were substantial, falling in a range of between 11 percent per annum and over 19 percent per annum. Even when adjusting for revised underwriting over the past decade, Professor Naik reported that investors could still have expected to come out ahead.
Conference attendees were treated to a riveting presentation by author and motivational speaker Scott Burrows, and from two Georgetown University law students who re-enacted their championship moot court arguments on legal issues affecting the secondary market for life insurance. Building on past conferences, Amy McIlwain of Financial Social Media, spoke to attendees about successfully integrating social media into their businesses.
Andrew Plevin, Co-CEO of BroadRiver Asset Management presented the case that a very large base of funds is available from institutional investors, especially pension funds for investment in life settlements. The challenge, Plevin said, is to create an acceptance of life settlements as a viable asset class of sufficient market size and availability of product to attract these institutional funds. Simon Errit, Chairman of the European Life Settlement Association, led a panel discussion on the opportunities for European investors to participate in the US life settlement market.
The growing attention to the ability of seniors to use the proceeds from a life settlement to finance the costs of long-term care received much attention and discussion. Kentucky State Representative Robert Damron discussed efforts by the Kentucky Legislature to adopt legislation to allow seniors to use proceeds from the sale of their life insurance policies for long-term care and still qualify for Medicaid benefits. To date, more than one in five states have actively considered life settlements as a means to offset the growing costs of Medicaid. Attendees openly discussed how life settlements can be integrated into discussions with families, elder care providers and traditional insurance advisors, all of whom are concerned about the impact of the long-term care crisis on their loved ones and clients.
Platinum SponsorsFor more than 30 years, Coventry has been redefining insurance. By uniquely bridging capital and insurance markets, we created the secondary market for life insurance and pioneered the resulting life settlement industry, opening a wealth of opportunities for consumers, financial professionals, and institutional investors alike. Our efforts have delivered more than $3 billion to policy-owners and launched a global longevity market.
Today, Coventry is a global financial services company with operations throughout the world’s major financial centers. We are committed to establishing a healthy and vibrant secondary market for life insurance. Our global distribution platform and deep structuring expertise offer a range of custom solutions to counter-parties worldwide, providing institutional investors with unrivaled access to the US longevity market.
At CMG Life Services, our experienced team of financial, legal, insurance and securities professionals is dedicated to “Delivering Institutional Grade Opportunities.” We provide a full array of life settlement services to institutional clients, supported by our provider and broker-dealer affiliates.
Our proprietary analytical tools provide in-depth valuation analysis of policies acquired through modeling various metrics, including mortality, premium burden, and time horizons. Following policy acquisition, we stand ready to provide portfolio management services, including premium payment, premium optimization, valuation, life tracking and benefit collection services. Our proprietary risk management model for policy acquisition, as well as our proven portfolio management capabilities, has enabled us, in the face of difficult market and industry conditions, to consistently access the institutional capital markets. Our successful acquisition of over $5 billion (face) of policies that continue to exceed maturity projections validate our tools and our experience.