Leading industry figures forecast a new spring for life settlements as a result of US legislation and growing optimism stimulated by new research and increasing capital coming to the market.

Alan Buerger, CEO of Coventry, forecast that a new recognition of the social value of life settlements together with US state legislation making it mandatory for applicants for Medicaid to know that their life policies could provide funding was ushering in a new phase in the growth of the life settlement market.

The record attendance of delegates from the USA, Europe and Asia at the third annual European Life Settlement Investors Summit held at the Institute of Directors on the 25th September were told by Pennsylvania State Senator Jake Corman that the use by seniors of their life policies to pay for their hospital care would be a “win-win” for the seniors, the state budgets and for the life settlement industry.

Simon Erritt, Managing Director of Coventry Capital and Chair of ELSA said he has “experienced more interest from investors and excitement about the future of the life settlement asset class than ever before”.

Jim Maxson of Morris, Manning & Martin and Chair of ELSA’s Summit Planning Committee referenced “the exciting developments that are occurring as the asset class continues to evolve from a niche to a mainstream, investment grade asset”.

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