The Life Settlements Report - June 5, 2008

Iowa Insurance Commissioner Susan Voss worked behind the scenes with the life insurance industry to craft legislation that life settlement representatives say harms their industry and hurts consumers, emails from the commissioner's office show.

Emails obtained by LSR, under the state's public records law, show the regulator's close working relationship with the American Council of Life Insurers and top insurance company officials.

Smaller Banks Followed Fed Advice, May Escape Harm

The recent losses suffered by some of the nation's biggest banks on their bank-owned life insurance (BOLI) investments are just the first in a series of write-downs that could run into the billions of dollars, industry experts say.

But the vast majority of the nation's banks are expected to suffer no harm at all from the kinds of well-publicized problems experienced by banks that made BOLI investments with Citigroup's Falcon Strategies hedge fund.

The California state Senate approved new life settlements legislation. If passed by the state Assembly and signed by Gov. Arnold Schwarzenegger, the bill will set regulations for the market for the first time in the state.

• Ohio Legislature Votes to Allow Settlements after Two Years
• Maple Life Hired to Sell Former Ritchie Portfolio
• Arizona Governor Signs Anti-STOLI Bill
• Oklahoma Governor Signs NCOIL Bill
• Hawaii Life Settlements Legislation Awaits Governor's Signature
• Centurion's Argent Fund Launches on the Euro MTF
• LifeOptions, Life Advisors Form Sales and Marketing Alliance
• Malone Retiring from EMSI
• Life Partners Increases Dividend
• LISA Elects Board Members
• Milestone Says New Software Speeds Up Policy Processing
• Connecticut Governor Hasn't Signed Life Settlements Bill
• IFG Issues Retraction: No Partnership with National Financial
• Life-Exchange Reports Quarterly Profit
• Life Settlement Solutions is Hosting Life Settlement Awareness Month