SOURCE: Life Insurance Settlement Association

August 29, 2007 13:53 ET

Life Settlement Association Demonstrates Historic Value Provided to Consumers

ORLANDO, FL--(Marketwire - August 29, 2007) - The Life Insurance Settlement Association (LISA) has published a major data report confirming the historic and present value to consumers provided by the life settlement industry. Commissioned by LISA, the Data Collection Report serves to analyze the growth, averages, and trends of the life settlement industry for 2004 and 2005. Multiple life settlement providers contributed to the report, resulting in the largest data sample published in the history of the life settlement industry by any non-governmental effort.

According to the report, in just two years, the 11 measured companies paid more than $854 million dollars above cash surrender value to consumers. "The two years studied in this effort represent key middle years of the growth of the industry and signal successful future value to consumers," said Doug Head, LISA Executive Director.

The life settlement industry has experienced tremendous growth in the past six years. The rapid expansion of settlements brought calls from regulators, journalists, and the public, for an accurate estimate of the size of the settlement industry. Concerns expressed by these interested parties led LISA to address this issue at their 2006 New York City Spring Conference. Key committees and all present members discussed and affirmed the need to produce data for the life settlement industry. The Data Collection Report initiative was born.

At the outset, LISA recognized certain basic systemic problems in the attempt to collect data: no uniform data collection process exists; not all states require reporting; relatively few companies file official reports.

Beyond systemic obstacles, LISA understood that any attempt to compile statistical data might be viewed as improperly skewed and/or inaccurate. Early LISA efforts to quantify the size of the industry were cited in market and scholarly documents despite their anecdotal nature. "These initial estimates are supported by the Data Collection Report, which gives real substance to the trends we have reported," said Head.

"A unique opportunity for further growth is upon us today," said LISA President Ramiro Rencurrell, "and with the help of our valued members we are contributing substantive data to better understand the size and value of this burgeoning industry for consumers." Head added, "LISA will continue to acquire statistics to elevate public discourse on the life settlement industry and its future. While the rhetoric of the debate is often fueled by conjecture, it is helpful to have facts which support our contribution to consumers." To view the Data Collection Report, please visit: http://lisassociation.org/public/contact_us/public_signup2.html.

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 155 members with a wide variety of interests in the industry. For more about the Association, visit www.lisassociation.org.

Contact Information

  • Contact:

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