Industry News
(The Life Settlements Wire, August 9, 2007)

The life settlement market grew to an estimated $12 billion last year, according to the Life Insurance Settlement Association (LISA). The industry is expected to grow significantly over the next few years. Bernstein Research prviously predicted the market could reach $161 billion within a decade.

Select Life Settlement Corp., a life settlement broker based in Northport, N.Y., said yesterday that its business mirrors the growth of the market in general. "We are on pace to close five times the number of life settlement cases in 2007 than we did in our first year of operation in 2006," the company said. Russel Dorsett, Co-Managing Director of the company, said his firm settled 10 policies in 2006. So far this year, it has settled 25 cases and has another 10 cases pending in which offers have been accepted and are in various stages of closing. "We expect to close at least 50 (cases) during 2007," Dorsett said in an e-mail to Dealflow Media.