SOURCE: Life Insurance Settlement Association

Life Insurance Settlement Association

December 01, 2009 09:56 ET

U.S. and European Life Settlement Associations Announce International Trade Mission

Four-Day Event Draws Cross-Continental Interests in Secondary Market

ORLANDO, FL--(Marketwire - December 1, 2009) - As interest in the life settlement industry climbs, two major trade groups unveil plans to host an international trade mission in Europe. In 2010, the Life Insurance Settlement Association (LISA) and the European Life Settlement Association (ELSA) will convene the first-ever trade mission for life settlement professionals. The 2010 Life Settlement Trade Mission is scheduled to run from February 23rd to the 26th. The four-day mission opens in London with an overnight stop in Luxembourg and concludes in Zurich. Despite the lingering effects of a global economic crisis, the life settlement industry is experiencing renewed interest among financial professionals and lawmakers. A Life Settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit. The market is commonly understood to be less correlated to the fluctuations of financial markets and therefore, highly attractive in difficult economic times.

"The 2010 Life Settlement Trade Mission is a seminal event in an industry that has seen exponential growth over the past decade," explained Doug Head, executive director of LISA. "We're exceedingly proud to have a partner across the Atlantic with whom we share common interests. LISA and ELSA are breaking new ground with this international event."

2009 marked the 10 year anniversary of the life settlement industry in the United States. The first known life settlement transactions were announced at the 1999 meeting of the National Association of Insurance Commissioners (NAIC) in Orlando, Florida. Since that meeting, the industry has evolved in significant ways. European investors are entering the market and U.S. life settlement professionals affiliated with LISA, the largest trade organization in the industry, have expressed an interest in achieving clarity with their European counterparts. "Our members built this market and are intimately familiar with the challenges of the past decade. We all have a vested interest in understanding the differences of American and European insurance products," stressed Mr. Head.

A CROSS-CONTINENTAL UNDERSTANDING OF LIFE SETTLEMENTS

The 2010 Life Settlement Trade Mission will establish an important dialogue focused on the risks and benefits for life settlement investors with multinational interests. The robust four-day agenda is segmented into sessions featuring perspectives from U.S. life settlement professionals and European investors. The agenda and session topics can be found at the Life Settlement Trade Mission website: http://www.thevoiceoftheindustry.com/conference/2010/LifeSettlementTradeMissionEurope/

"The marked growth in life settlement investment activity by Europeans demands a better understanding of all the risks and rewards in this dynamic market," commented Patrick McAdams, a deputy chairman of ELSA and director of Surrenda-link Investment Management. "As the global economic crisis wanes, we foresee exponential growth but a common code of practice is needed. ELSA was conceived precisely to establish an unambiguous standard for European investors." Through-lines in the three-nation mission will include long term development, accuracy of information and clarity of business practices. Local interested investors are expected at each stop.

About the 2010 Life Settlement Trade Mission

To register please visit the event website: http://www.thevoiceoftheindustry.com/conference/2010/LifeSettlementTradeMissionEurope/

Sponsorship and exhibitor opportunities are open! For more information please contact Shannon Fleshman, LISA Conference Services and Product Sales: Shannon@lisassociation.org

About LISA

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the industry. Its goal is to promote the development, integrity, and reputation of the life settlement industry, and to promote a competitive market for the people it serves. LISA now represents over 130 members with a wide variety of interests in the industry. For more about the association, visit www.thevoiceoftheindustry.com.

About The European Life Settlement Association

ELSA, the European Life Settlement Association, was established in May 2009. ELSA sets standards for the European life settlement industry and promotes transparency by providing accurate, authoritative information to retail and institutional investors. Membership is open to capital providers, service providers and intermediaries in the life settlement market. ELSA's mission is to promote the development, integrity and reputation of the European life settlement industry and to encourage fair competition within the European market, www.elsa-sls.org.

Contact Information

  • Contact:
    Doug Head
    LISA Executive Director
    407-894-3797