The European Life Settlement Association (ELSA) is delighted to announce that its Membership Committee has recently approved the membership application of Wilmington Trust.
Wilmington Trust was founded in 1903, and is a renowned provider of trust, agency and administration services for institutional investors in the life settlement industry. Wilmington Trust, an affiliate of M&T Bank Corporation, is headquartered in Wilmington, Del., USA, and has offices around the globe including the United Kingdom, Ireland, Luxembourg and Germany. Wilmington Trust provides customized, client-centric solutions with recognized industry expertise. The Capital Markets Insurances Services team works with policies that have a face amount of $13 billion. Wilmington Trust serves as securities intermediary, custodian and sub-custodian, premium paying agent, escrow agent, trustee, collateral agent and verification agent for secondary and tertiary market transactions.
Founded in 2009, ELSA represents European funding sources, service providers and intermediaries in the life settlement market who are looking to promote transparency by providing accurate and authoritative information to investors, regulators and the media. The association’s focus is on the promotion of best practices and the positive development of the European life settlement industry’s reputation amongst all stakeholders.
Alec Taylor, ELSA Chair, said, “ELSA is delighted that Wilmington Trust has chosen to join the Association. It is great to have a company of their standing and reputation as a new member.”
ELSA members must comply with the association’s Code of Practice which is a comprehensive framework that ensures the highest professional and ethical standards within the industry and protection of the interests of investors in the asset class.