Life Settlements Seminar

Nov. 12, 2020
11:00 am - 3:30 pm

About This Event

The Deal’s Life Settlements Seminar will explore the latest market updates including the impact of Covid-19 on senior insureds, the continued increase in institutional investment in the market, merger due diligence and current legal issues.  Join The Deal and a roster of investors, providers and advisers for a full day of online panel sessions and interviews. Your registration provides access to all of the sessions. You can view them live as they happen or on demand at a time that is convenient for you.

Speakers

Jay Olshansky
Chief Scientist and Co-Founder, Lapetus Solutions Inc.

S. Jay Olshansky received his Ph.D. in Sociology at the University of Chicago in 1984. He is currently a Professor in the School of Public Health at the University of Illinois at Chicago, Research Associate at the Center on Aging at the University of Chicago and at the London School of Hygiene and Tropical Medicine, and Chief Scientist at Lapetus Solutions, Inc.

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Nir Barzilai M.D.
Director of the Einstein-Institute for Aging Research; Professor of Medicine and Genetics, Albert Einstein College of Medicine
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Brian Casey
Partner, Locke Lord
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Pat Curry
Chairman and CEO, Emergent Capital, Inc.
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Kurt Gearhart
CEO, Longevity Holdings, LLC
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Ann Juliano
Managing Director, D2 International Ltd.
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Jack Kelly
Managing Director, Institutional Longevity Markets Association
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Jonas Martenson
Founder, Head of Sales, Ress Capital
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Jule Rousseau
Partner, Arent Fox
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Dan Ryan
Chief Science Officer, COIOS Research
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Agenda

11:00am – 11:45am Eastern
Covid’s Impact on Senior Insureds: Not as Dire as Once Thought, But Still a Risk

Originally, a data scientist at one of the leading life expectancy firms thought the coronavirus had increased the morality rate of seniors by six to 12% of the general population. But a more nuanced view now prevails – senior insureds are expected to die at six times the rate of the general population, not the higher estimate. Other mortality experts support the change in view as well, coming to believe that Covid-19 already may have killed sicker seniors earlier in the pandemic. As more guidance comes out on how to keep safe and isolate themselves, seniors, especially wealthier or healthier ones are more likely to survive. How are these revised estimates having an effect on the Life Settlements market?

Moderator: Donna Horowitz, Senior Editor, The Life Settlements Report, The Deal

Panelist: Nir Barzilai M.D., Director of the Einstein-Institute for Aging Research; Professor of Medicine and Genetics, Albert Einstein College of Medicine

Panelist: Jay Olshansky, Chief Scientist and Co-Founder, Lapetus Solutions Inc.

Panelist: Dan Ryan, Chief Science Officer, COIOS Research

12:15pm – 1:00pm Eastern
Due Diligence for Mergers

Maple Life has just been purchased by ITM TwentyFirst, which itself was purchased by Stone Point Capital a few years ago. The ITM TwentyFirst parent company also acquired Fasano Associates at the end of last year, and Vida Capital was purchased a year ago by Redbird Capital and Reverence Capital for $590M. One of Vida’s major owners, QuantRes, which put $400M in the company for a 40% stake five years ago, has now asked Vida to put its $770M life settlement portfolio on the market, which is being shopped around by Maple Life Analytics, as it looks to exit the company. Vida also recently acquired Avmont from RedBird. Jade Mountain also purchased the majority interest in Emergent Capital last year. What do professionals in the market look for when they’re advising companies that have put themselves up for sale? How do they value such transactions and what due diligence is necessary?

Moderator: Donna Horowitz, Senior Editor, The Life Settlements Report, The Deal

Panelist: Brian Casey, Partner, Locke Lord

Panelist: Pat Curry, Chairman and CEO, Emergent Capital, Inc.

Panelist: Kurt Gearhart, CEO, Longevity Holdings, LLC

Panelist: Jack Kelly, Managing Director, Institutional Longevity Markets Association

1:30pm – 2:15pm Eastern
Current Legal Issues in the Life Settlements Market

Lawyers for life settlement investors have been waging lawsuits against insurance companies for the past five years over cost-of-insurance rate (COI) increases. Those battles continue as the market has notched successes with class-action settlements. In some cases, investment groups that own policies remain in the class settlements, and other times they opt-out and sue separately. Also, the stranger-originated life insurance (Stoli) litigation is heating up again, with Columbus Life Insurance Co. entering the fray. One Stoli case that went to the NJ Supreme Court last year resulted in a law that just was passed by the New Jersey Legislature.

Moderator: Donna Horowitz, Senior Editor, The Life Settlements Report, The Deal

Panelist: Jule Rousseau, Partner, Arent Fox

2:45pm – 3:30pm Eastern
Pension Fund Investment Growth and New Institutional Investment in Life Settlements

Not many pension funds invested in this asset years ago because they were afraid of headline risk. Not anymore. The growth has exploded over the past several years. Ress Life just announced that the Volvo UK pension fund is its latest investor. Corry Capital also has won investment from Dauphin County, Pa., and Memphis Light, Gas and Water Division pension funds as well as other pension investment. The Michigan and Alaskan retirement funds have $700M investment in this asset through Vida, BroadRiver and Apollo. Smaller pension funds and other new institutional investors including PIMCO and KKR have also recently entered the asset class. This panel will explore the recent increase in new institutional investment into the Life Settlements market.

Moderator: Donna Horowitz, Senior Editor, The Life Settlements Report, The Deal

Panelist: Perry Gillies, President, Lyric Services, Inc.

Panelist: Ann Juliano, Managing Director, D2 International Ltd.

Panelist: Jonas Martenson, Founder, Head of Sales, Ress Capital

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