The Life Settlements Report - July 17, 2008

Competition, Maturing Industry Force Expansion of Services

As the life settlement business matures and grows more competitive, the role of a key participant – the provider – is changing.

Some providers are taking on new duties such as servicing portfolios while others are buying policies for their own portfolios. The traditional provider that merely acted as a conduit in purchasing policies for institutional funders, hedge funds, and other investors may soon be a thing of the past.

Consumer Protections Could Lower Costs, Advocates Say

Adopting consumer-centric "best practices" within the life settlement industry could solve a host of problems for the market, said Jim Cavoli, chief executive of Cleveland-based brokerage Life Settlement Insights.

Estate Tax Attorneys Said to Oppose Bill

Rhode Island Gov. Donald Carcieri vetoed life settlement legislation earlier this month, apparently after estate tax attorneys complained about the impact on their high net-worth clients.

The veto caught industry representatives as well as the bill's sponsor by surprise.

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• Bear Stearns Executive Joins Lehman Brothers
• Former Portsmouth CEO Named Senior Advisor to Peninsula Group
• Swiss Bank EFG Joins ILMA
• Top NAIC Executive Resigns
• Fortune Magazine Says Life Partners Is Growing Fast
• Advanced Underwriting Solutions Named Preferred Vendor to Cambridge
• Forum National Shareholders Elect Three New Directors
• Mosaic Management Hires Greenspoon for Compliance Advice
• Settlements for Life Names New Executives