Positive Trends on Horizon for Life Settlement Industry — LISA Fall Life Settlement Conference Concludes

Category LISA
Posted Date 11/12/2009
Publish By Marketwire
Publish Date 11/12/2009
Rating Positive

Marketwire, 12 November 2009

New York, NY

Despite a lingering economic malaise, the Life Insurance Settlement Association’s (LISA) 15th Annual Fall Life Settlement Conference received an enthusiastic and robust turnout for three days in New York City. On November 10th, institutional and securities investors, hedge fund managers, regulators and others brought the industry’s longest running major life settlement conference to a successful conclusion. The diversity and depth of the fall 2009 crowd proved that a once-considered “niche market” is undoubtedly entering the mainstream U.S. financial markets. A Life Settlement is the sale of an existing life insurance policy to a third party for more than its cash surrender value but less than its net death benefit. In recent years the industry has grown exponentially and received equal attention among major media outlets and U.S. policy makers.

Running from November 8-10, LISA’s 15th Annual Fall Conference garnered an attendance in excess of three hundred. In an economy slow to recover, the success of such a crowd was a stark reminder that interest in life settlements among investors and consumers remains as vibrant as ever. “We’re extremely pleased with not only the size of this year’s turnout — given ongoing economic hardships — but the depth and diversity of our attendees this year exceeded all expectations,” remarked Doug Head, LISA Executive Director. “We’re seeing a significantly higher level of understanding of this industry among financial professionals. This was reflected in the quality of presentation and dialogue at this year’s fall meeting.”

Among the conference faculty was Georgia State Senator Ralph Hudgens. LISA presented Sen. Hudgens with their 2009 Consumer Freedom Award for his legislative accomplishments in protecting the long-established property rights of life insurance policy owners. In 2009, Georgia saw the passage of Senate Bill 61, a strong “consumer-first” legislative proposal authored by Sen. Hudgens, Chair of the Insurance & Labor Committee. “We’re tremendously grateful for the work Sen. Hudgens has done on behalf of seniors,” remarked Mr. Head. “We wish him all the best as he seeks to be Georgia’s next insurance commissioner.”

LISA’s Fall Conference corresponded with a major milestone for the life settlement industry. Conference attendees celebrated the 10th Anniversary of the life settlement industry. Additionally, LISAPAC, the bi-partisan federal political action committee of LISA, launched its 2010 campaign drive. LISAPAC Chairman Mark Goode explained: “Each year, LISAPAC works to advance consumer rights in the settlement arena. We actively support candidates for public office who share our view that the right of life insurance policy owners to sell their policies on a secondary market must be preserved and defended.”

The 15th Annual Fall Conference concludes in the wake of major federal interest in the secondary market. Recently, LISA has played an active role in several major federal congressional hearings and ongoing inquiries into the role of securitization of life settlements. As the U.S. economy is revived, the association sees the market playing a larger role in the financial decisions of many seniors and, by extension, in the policy decisions of Washington lawmakers.

To learn more about LISA, please visit: http://www.thevoiceoftheindustry.com/.

About LISA

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 over 140 members with a wide variety of interests in the industry. For more about the association, visit www.thevoiceoftheindustry.com.

Doug Head
LISA Executive Director
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