NEW YORK, June 1, 2017 /PRNewswire/ -- The Deal, a
business unit of TheStreet, Inc. (NASDAQ:
TST), issued results from its annual survey of the life
settlement market which reveal that transactions increased 47% last
year, as small-face policies gained traction and marketing efforts
began reaching consumers. The survey, compiled mainly from
information obtained through public records requests to state
insurance departments, includes data from 31 providers, including
10 who did not report any activity.
"The growth of the life settlement market is good news
for seniors who want to sell their life
insurance policies and recoup some cash or get out from under
the burden of paying high premiums," said Donna Horowitz,
senior editor of The Life Settlements Report. "It's an asset like
any other piece of property that seniors are starting to
learn has value. Buyers are especially interested in
small-face policies owned by average Americans and are reaching out
to them more than ever before with TV ads and Internet marketing to
let them know that it's been legal to sell their policies for
more than 100 years."
Highlights from the report include:
- The number of policy sales grew to 1,650 in 2016, from 1,123 in
2015, while the total face value purchased increased to
$2.14 billion, compared to $1.65
billion the previous year.
- Top six settlement buyers:
-
- Coventry First LLC led the market in the total
number of transactions, buying 277 policies in 2016 compared to 168
policies the year before. Coventry First paid $51
million and purchased $264.54 million in
policies.
- Magna Life Settlements, Inc. paid $159.04
million last year. Policies purchased by Magna Life
Settlements totaled 266 transactions with $501.26
million in face value.
- GWG Life LLC tied for second place, also with 266
transactions last year, compared to 105 in 2015. GWG Life
paid $61.03 million for $337.22 million in face
value last year.
- Life Equity LLC placed fourth last year,
paying $30.53 million for 150 transactions with a face
value of $396 million. In 2015, Life Equity did 181
transactions with a face value of $332.78 million.
- Abacus Settlements LLC ranked fifth with 127
settlements, $34.49 million paid and a face value
of $222.87 million.
- Settlement Group, Inc. ranked sixth with 122
settlements, $15.82 million paid
and a face value of $138.59 million.
The full article is available online, or learn more
about The Deal's Life Settlements League Tables by
visiting http://www.thedeal.com/league-tables/life-settlements/.
About The Deal's Life Settlements League Tables
The
Life Settlements Report has published information on the volume of
the life settlement market annually since 2010 to bring more
transparency to the market. It is the only publication that
collects and assembles such data on the secondary market in such
detail. The transaction information mainly is obtained through
public-records requests to numerous state insurance departments. It
does not include tertiary transactions, or policies traded after
the initial purchase, although the newsletter tracks the bigger
portfolio deals in the normal course of reporting.
About The Deal
The Deal (www.thedeal.com)
provides actionable, intraday coverage of mergers, acquisitions and
all other changes in corporate control to institutional investors,
private equity, hedge funds and the firms that serve them. The Deal
is a business unit of TheStreet, Inc. (NASDAQ:
TST, www.t.st), a leading financial news and information
provider. Other business units include TheStreet
(www.thestreet.com), which is celebrating its
20th year of producing unbiased business news and
market analysis; BoardEx (www.boardex.com), the leading
relationship mapping service of corporate directors and officers;
and RateWatch (www.rate-watch.com), which supplies rate and fee
data from banks and credit unions across the U.S.
Contact: Jon Kostakopoulos,
212-321-5561, Jon.Kostakopoulos at thestreet.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/market-volume-continues-to-surge-2016-busiest-year-in-secondary-market-since-2009-300467074.html
SOURCE TheStreet, Inc.