Download Life Risk News Volume 3, Issue 5, May 2024

In April, industry group LISA was at an NCOIL meeting proposing amendments to NCOIL’s Life Settlements Model Act that would support growth in the secondary market. It followed that up in early May by publishing the 2023 edition of its Market Data Collection Survey. Greg Winterton joined the dots, with comments from Bryan Nicholson, Executive Director at LISA, John Dallas, CEO at Berkshire Settlements and Chair of LISA, Alan Buerger, Coventry First Co-Founder and Executive Chairman and ACLI spokesperson Whit Corman in Life Settlement Market Pays More Than $800m To US Consumers In 2023 As Industry Pushes For Greater Awareness. 

A recent decision from Florida’s 5th Judicial Circuit Court provided something of a good news story for the life settlement market as, while the death benefit still accrued to the estate of the insured, it did so net of premiums paid, a first for the industry. Greg Winterton spoke to Jule Rousseau, Partner at ArentFox Schiff, in Recent Court Decision Close Enough to a Win for Life Settlement Industry, to learn more. 

Our Roundtable: Life Expectancy Underwriters article this month sees Greg Winterton asking questions of Chris Conway, Chief Development Officer, ISC Services, Vince Granieri, CEO, Predictive Resources, John Lynch, Director of Actuarial and Underwriting Services, Longevity Holdings, Sean Malone, President and CEO, Longevity Services and S. Jay Olshansky, Chief Scientist and Co-Founder, Lapetus Solutions with regards to the opportunities and challenges impacting their corner of the market. 

Insurance companies should represent a compelling investment for any allocator. So says Dan Knipe, Chief Investment Officer at Kilter Finance, in Insurance Companies: An Underserved Sector, a guest article this month. 

Just what is the plausibility of radical life extension occurring again? Not very, explains S. Jay Olshansky, Chief Scientist and Co-Founder at Lapetus Solutions, in Can Radical Life Extension Happen Again? Relevance for Life Settlements, our second guest article this month. 

Our Q&A this month features Ailish Finnerty, Partner at law firm Arthur Cox. Greg Winterton spoke to Finnerty to get her views on why Ireland is such a popular home for life settlement structures, and the regulatory horizon in the country. 

The Institute and Faculty of Actuaries’ Continuous Mortality Investigation (CMI) published CMI_2023, its annual update to the CMI Mortality Projections Model in mid-April. Notably, there was a disconnect between insurer and reinsurer actuaries and pension consultants and other actuaries with regards to the weighting of the 2022 and 2023 data in this latest projection. Greg Winterton covered this one, with comments from Cobus Daneel, Chair, CMI Mortality Projections Committee and Roger Lawrence, Managing Director at WL Consulting, in Conflicting Views in Calculation of Latest Continuous Mortality Investigation Model.