As the life settlement market struggles to recover from a tough 2008 and 2009, a group of American life settlement representatives are embarking on a European trade mission. This is exactly the kind of proactive thinking that we need more of in the industry to lift from the difficult times we are now facing. The idea is to cultivate international activity in the US longevity market. Below is an excerpt of the press release.
LUXEMBOURG, February 08, 2010 -- Carlisle Management Company, a leading alternative assets manager and manager of the Luxembourg Long Term Growth Life Settlement Fund, today announced its sponsorship of the First European Life Settlements Trade Mission.
"We are extremely pleased to be a part of the foundation for a European based life settlement organization, ELSA sets standards for the European life settlement industry and promotes transparency by providing accurate, authoritative information to the investment community," said Tim Mol, Carlisle's Chief Operating Officer.
A life settlement is the transfer of ownership and beneficiary rights of an unwanted or unneeded life insurance policy in exchange for a cash settlement. Life settlements represent an estimated $12 billion annual secondary market and one of the fastest growing financial sectors today. As capital sources continue to search for stable returns and low volatility, life settlements are already playing a significant role in the asset allocation strategies of leading banks, financial institutions, insurance companies and mutual funds.
