SOURCE: Life Insurance Settlement Association

Life Insurance Settlement Association

March 02, 2010 08:41 ET

International Life Settlement Trade Mission Concludes With an Eye on Future Growth

ORLANDO, FL--(Marketwire - March 2, 2010) -  On February 26th, the 2010 Life Settlement Trade Mission concluded its successful four-day cross-country tour with an eye on a future ripe for considerable growth. Two of the industry's leading trade associations, the Life Insurance Settlement Association (LISA) and the European Life Settlement Association (ELSA) wrapped up a first-ever effort to unify international interest in this secondary market. Opening in London, with stops in Luxembourg and Zurich, the initiative is drawing high praise for the quality of discourse and presentation throughout its four days. The event showcased institutional interest in the secondary market for life insurance, a multi-billion dollar industry driven by the sale of existing life insurance policies. LISA defines this transaction thus: 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.

Open, frank, and forward-looking discussions marked the final day as U.S. life settlement veterans and European investors broached a variety of serious issues critical to the advancement of the industry. "The depth of interest and expertise marking these discussions over the four days of this event is a testament to the seriousness with which we have been received," remarked Doug Head, LISA Executive Director. "Investors understand that the potential for future growth is extraordinary but must be tempered by wise regulatory policies and best practices on both sides of the pond. The Trade Mission raised this key awareness and it's now our job to drive the point home in our respective governing bodies."

The 2010 Trade Summit drew an opening London crowd of 150 and robust crowds followed the event as it arrived in Luxembourg and finally, in Zurich. "It's clearly heartening to experience straightforward and honest deliberation of the industry's most pressing issues," said Bryan Freeman, co-chairman of the Trade Mission and president of Habersham Funding LLC. "We all agree on the fundamental value offered by the secondary market. What is essential as we work with our European colleagues is a clear-eyed understanding of the risks and possibilities before us. This event clearly illustrated the seriousness of intent with which respected institutional investors are approaching life settlements."

"Fresh off its final day in Zurich, both LISA and ELSA are receiving strong calls for additional events to advance the many relationships established in the past week," explained Jim Connolly, Managing Editor of Life Settlement Review (LSR). LSR, a leading industry monthly publication, provided in-depth daily coverage of the Trade Mission. "The reception we've received has been tremendous. The excellent results produced by this event could not have been realized without the work and professionalism of ELSA, the LISA Events Department, the Trade Mission Committee and our honored speakers," declared Will Menezes, LISA Business Manager. "We fully intend to build upon the good work of all involved."

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 ELSA

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. For more about the association, visit www.elsa-sls.org.

About Life Settlement Review

Life Settlement Review is published monthly by the Life Insurance Settlement Association (LISA), the most recognized and trusted trade group in the life settlement industry. From legislation to regulation, court cases to securitization, Life Settlement Review covers all the major issues affecting the life settlement world. The publication features in-depth interviews with top industry leaders and editorial commentary by well known life settlement experts. Subscribers also receive the latest industry news and business development advice. To learn more about subscription to LSR, visit: www.lifesettlementreview.com.

Contact Information

  • Contact

    Doug Head
    LISA Executive Director
    407-894-3797
    Email Contact