Life settlement professionals, investors and consumers finally have an authoritative source to turn to for business news, legislative updates and expert analysis of the secondary market for life insurance. The Life Insurance Settlement Association, the most recognized and trusted trade group in the life settlement industry will start publishing a monthly digital magazine titled Life Settlement …
WASHINGTON—-Fasano Associates announced that its Sixth Annual Life Settlement Conference will be held on Monday, October 26, 2009 at its headquarters building in Washington, D.C.
SAN DIEGO—-Insurance-linked asset investors have been capitalizing on the current buying opportunities available in the life settlement market brought about by the contraction of available capital.
Life Settlement Investors have lacked a reliable and updated benchmark which demonstrates the performance of the various funds dedicated to this secondary market. The AAP Life Settlement Index should help solve this issues.
Here is a little bit about the Index:
The AAP Life Settlement Index was developed to provide investors a transparent, representative benchmark of different investment funds that are majority invested in the area of traded US life insurance policies. The index is constructed and calculated following clear rules. Along the lines of other well known indices in the area of non-traditional investment strategies, the AAP Life Settlement Index reflects the performance of the according fund universe.
The fund must qualify for the Index:
- The fund follows a strategy in the area of traded US life insurance contracts (Life Settlements). The part of other strategies in the portfolio is permanently smaller than 25% of the fund volume.
- The fund is open-ended, which means it accepts new investors and allows redemptions. Funds with a soft-closing or restricted liquidity for the investors still qualify for the index.
- Subscriptions can be made at least quarterly.
- Redemptions can be made at least quarterly.
- The fund calculates monthly a NAV in USD and the NAV is publicly available or is provided for the calculation of the index.
- The fund is not US domiciled.
- The fund is not a fund of funds. The fraction of open-end or closed-end funds is persistently smaller than 33%.
The AAP Life Settlement Index is calculated by Structured Solutions, AG and is fed into Reuters and Bloomberg. AA-Partners, Ltd acts as index advisor. The index has the following codes:
Bloomberg Code: AAPLIFE;
Reuters Code: .AAPLIFESETTLEM;
About AA-Partners Ltd
AA-Partners, Ltd (AAP) is a Zurich, Switzerland based independent investment boutique. AAP is specialised on wealth and fund of funds management with open-ended funds which follow a strategy in the area of traded life insurance policies.
More Life Settlement Investment Articles:
Life Settlement Investment Returns (Thanks Life Settlement Info)
Life Settlement Business
ORLANDO, FL - Life Settlement Info (LifeSettlementInfo.com) is now accepting advertisers from the Life Settlement Industry onto their web site. Life Settlement Info is a Life Settlement resource and information provider to consumers, financial professionals, and individuals within the industry. Life
Settlement Info is the first site to offer an open directory strictly for the Life Settlement Industry.
“We feel that a void has been filled within the Life Settlement Industry. Consider our site to be the “Yellow Pages” for Life Settlements,” said Grant Shellhammer, president of Dream Team Financial. “Our site is built to generate leads, responses, and feedback for our partners/advertisers.” Brokers, Agents, Providers, Investment Groups, and other industry related companies can now list their services, build their brand, and create exposure to their business with a listing on LifeSettlementInfo.com.
Dream Team Financial will be operating the site, creating traffic, adding news, updating the blog, and distributed the leads and information requests to the network of partners. “In a competitive industry that we are in, and the value of life settlement leads, our partners are acquiring an immediate potential to tap new leads at a minimal costs.” “We have also decided to limit the amount of partners per each state listing. This will give our partners maximum exposure and also keep our resource as a credible and valid source for referrals and information,” said Mr. Shellhammer.
For further information regarding a listing on Life Settlement Info and its life settlement advertising and lead program, contact Grant Shellhammer at email grant@dreamteamfinancial.com, call 1-888-249-0399, or visit http://www.DreamTeamFinancial.com/.
Looks like more lawsuits and accusations are coming out regarding the Mutual Benefits scam. This time the husband of Broward county mayor has been named.
According to the lawsuit, Russ Klenet — Mayor Stacy Ritter’s spouse and a prominent state lobbyist — borrowed the money to take over an investment firm that buys and sells life insurance policy settlements. Klenet is accused of selling the business last year and “pocketing” the proceeds without repaying his debts back to Steven Steiner and Henry Fecker.
Looks like the firm in question is: Life Settlements International, which Klenet sold to Cantor Fitzgerald (alleged in the lawsuit.)
Read the complete article from the Sun Sentinel at Life Settlement Fraud.
Lawsuit from Mutual Benefits Executives
Found this information on the 10-Q provided by MaxLife Fund Corporation. However, it gives a nice outline for life settlement investors or those looking to invest in life settlements.
Investment in life insurance policies are recorded in accordance the Financial Accounting Standards Board Staff Position No. FTB 85-4-1 Accounting for Life Settlement Contracts by Third-Party Investors (FSP FTB 85-4-1). FSP FTB 85-4-1 states that an investor may elect to account for its investments in life settlement contracts using either the investment method or the fair value method. The election shall be made on an instrument-by instrument basis and is irrevocable. Under the investment method, an investor shall recognize the initial investment at the purchase price plus all initial direct costs. Continuing costs (policy premiums and direct external costs, if any) to keep the policy in force shall be capitalized. Under the fair value method, an investor shall recognize the initial investment at the purchase price. In subsequent periods, the investor shall remeasure the investment at fair value in its entirety at each reporting period and shall recognize change in fair value earnings (or other performance indicators for entities that do not report earnings) in the period in which the changes occur. The Company has elected to value its investments in life settlement contracts using the investment method.
Investors may also be interested in: Internation Society of Life Settlement Professionals
SAN DIEGO—-The market for insurance-linked assets has become a buyer’s market with conditions generally viewed as very favorable to those currently purchasing or entering the life settlements arena.
LONDON, Jan 30 (Reuters) - British investment bank Close Brothers Group Plc said it expected economic troubles to continue to hit some businesses, but forecast “satisfactory” results for the six months to end-January. “We expect the challenging economic and financial market environment to continue to impact our businesses, particularly in the asset management and corporate finance divisions,” …
Senators’ compromise with moderate Republicans paves the way for a vote in the chamber and hands Obama a legislative victory on his highest economic priority.