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Optimistic Views for Life Settlement Industry Put Forth at
Fasano Life Settlement Conference
Washington, DC, November 8 – (Businesswire) — Brian Smith,
CEO of Life Equity, addressed more than 300 industry
participants in the keynote speech at Fasano Associates’
Fourth Annual Life Settlement Conference. Smith hailed 2007
as a watershed year in which the life insurance industry
recognized that life settlements are good for consumers and
also good for the life insurance industry. He predicted that
increased capital from financial institutions coupled with
acceptance and participation from the life industry would
lead to continued growth of the life settlement industry.
Smith’s
upbeat assessment was shared by Erik Friedman, Senior
Managing Director of Bear Stearns, who concluded that the
settlement industry is “here to stay” and that it offered
significant growth potential.
Michael
Fasano, President of Fasano Associates, agreed with Smith
and Friedman. “Two senior executives from the Phoenix Life
addressed our conference this year with their views of the
life settlement market. This would not have been possible at
earlier conferences. A vibrant secondary market for life
insurance increases value to the consumer while making the
life insurance contract a more valuable commodity. This is a
win-win situation.”
A life
settlement is the sale in the secondary market of a life
insurance policy that no longer meets the needs of the
policy owner. Life settlements bring together the capital
and insurance markets to provide owners of life insurance
competitive market values for their policies.
Additional
presentations were made by Jack Kelly, Partner of The
McPherson Group, Dr. Thomas Schmitt, Managing Partner of
Augur Capital, Phillipe Hatstadt, Senior Managing Director
of Bear Stearns, Stuart Hersch, CEO of Cantor Life Markets,
and Dr. Barbara Jo Senatore, Medical Director at Fasano
Associates. |