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LSS
In the News |
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NEWS RELEASES
2004
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2004
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GERMAN AGENCY ASSIGNS AA+ RATING TO LIFE SETTLEMENT SOLUTIONS
Contact: Mary Correia-Moreno,
Nuffer, Smith, Tucker Public Relations, 619/296–0605
SAN DIEGO – Aug. 27, 2004 –The German rating agency Scope Group has assigned an overall quality rating score of AA+ ("excellent quality") to Life Settlement Solutions.
Scope assigned ratings to eight life settlement companies and is thus far the only rating agency in the world to offer quality ratings of U.S. life settlement companies. The rating provides an independent evaluation of the companies that are service providers for German closed–end life settlement funds and other institutional investors. The rating results recognize Life Settlement Solutions as one of the "four largest companies," with a careful, well-structured process management and partner network, able to acquire large policy portfolios for institutional investors.
"The life settlement industry has experienced a tremendous amount of growth in the past 12 months," said Larry Simon, president and founder of Life Settlement Solutions. "The volume of issued closed–ended funds in the German market alone is expected to exceed $1 billion this year, a marked increase over the $650 million of 2003. The rating is extremely important for a number of reasons. First, there is an expectation of new capacity entering the market next year. Perhaps more importantly, the market is young and the performance of these closed–ended funds relies heavily on the quality of the life settlement company."
According to the report from Scope, the overall rating reflects the excellent quality of Life Settlement Solution's services to institutional clients. Life Settlement Solutions received a score of AAA ("best quality") for elements such as company history and structure, market standing, investor structure, credit standing, financial strength, shareholder structure, operations and process management, compensation, and litigation/conflicts.
Life Settlement Solutions Inc., is a life settlement provider, offering owners of qualifying life insurance policies the opportunity to convert their life insurance policies into cash. A pioneer in the non–viatical life settlement field, Life Settlement Solutions and its management represent one of the largest and most experienced institutionally funded life settlement companies in the market. Life Settlement Solutions and its management have purchased life insurance policies with approximately $1 billion aggregate face–value to date.
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