Life Settlement News

Patriot Group Provides $45 Million Credit Facility to Peachtree Settlement Funding
DARIEN, Conn.–(BUSINESS WIRE)–The Patriot Group, LLC, an emerging leader in specialty finance solutions for businesses at all growth stages, today announced that it has provided a $45 million, three-year, senior secured credit facility to Peachtree Settlement Funding. Peachtree Settlement Funding is a specialty finance [...]

Abacus Settlements, LLC Favorably Resolves Name Dispute with European Life Settlement Management Company Using the Same Name
NEW YORK, Jan. 18 /PRNewswire/ — Abacus Settlements, LLC, a leader in the life settlement industry (http://www.abacussettlements.com/) announced today that a European life settlement company utilizing the name Abacus has agreed to cease using the name, which is [...]

NEW YORK – Ritchie Capital Management Ltd.’s two bankrupt hedge funds sold their life insurance assets to a Bear Stearns Cos. affiliate and ABN Amro NV for $452.5 million, a witness in a New York bankruptcy court hearing said.
Bradley Geer, a managing director at Houlihan Lockey Howard & Zukin, an investment bank hired to [...]

Doug Head, executive director of the Life Insurance Settlement Association, today criticized the findings of the National Association of Insurance Commissioners’ review of its model act.
“So we are asked to believe that the “investigation” was done, and properly done, based on a press release?”
Last week, the NAIC announced that an independent investigation by Lynn McCreary, [...]

Ritchie Units Reach $10M Deal to End Coventry Document Fight
Two bankrupt investment units of Ritchie Capital Management LLC will pay Coventry First LLC $10 million in exchange for its recognition that they own key documents necessary for the sale of more than 1,000 life insurance policies.
Under a deal struck Thursday, Coventry, a leading buyer of [...]