Download The Life Settlements Report
- Full Subscriber Access
September 22 – 23 • Mandalay Bay • Las Vegas
Thursday, September 22, 2011
Breakfast, Registration & Networking
8:30 - 9:30 AM
8:30 - 9:30 AM
Turning Point: What Does the Future Hold for the Life Settlements Market?
9:35 - 10:25 AM
As the market matures and firms merge, many expect to see fewer intermediaries. Will consolidation result in a more efficient, stronger market with better outcomes for investors or will fewer brokers and providers mean fewer policies for sale? This panel examines what lies ahead for the market.
MODERATOR: NATE EVANS, Maple Life Financial
PANELISTS:
9:35 - 10:25 AM
As the market matures and firms merge, many expect to see fewer intermediaries. Will consolidation result in a more efficient, stronger market with better outcomes for investors or will fewer brokers and providers mean fewer policies for sale? This panel examines what lies ahead for the market.
MODERATOR: NATE EVANS, Maple Life Financial
PANELISTS:
- MICHAEL BESTE, Vertical Capital Holdings
- ZOHAR ELHANANI, Legacy Benefits
- JON MENDELSOHN, Ashar Group
Distressed Assets: What Value Do Private Equity Funds and Hedge Funds See in Distressed Assets?
10:30 - 11:20 AM
Fortress Investment Management, Apollo, Kohlberg, McKinsey and Oaktree are among the private equity funds who have stepped into the life settlement space. Is this good for the market? Will they be here for the long-term to pump money into the secondary market or will they only be tertiary buyers?
MODERATOR: DAN PASSAGE, Bingham
PANELISTS:
10:30 - 11:20 AM
Fortress Investment Management, Apollo, Kohlberg, McKinsey and Oaktree are among the private equity funds who have stepped into the life settlement space. Is this good for the market? Will they be here for the long-term to pump money into the secondary market or will they only be tertiary buyers?
MODERATOR: DAN PASSAGE, Bingham
PANELISTS:
- DAVID MARINOFF, Guggenheim Partners
- ALEXANDER BYALL, Barrett Advisors
- BRIAN TIJAN, Deutsche Bank Securities
Networking Break
11:20 - 11:45 AM
11:20 - 11:45 AM
How Do You Structure a Profitable Portfolio?
11:45 - 12:35 PM
Do you accumulate policies one by one on the secondary market, do you acquire tertiary policies or build a portfolio using both strategies? How do you successfully manage your portfolio once you've acquired it?
MODERATOR: JAN-ERIC SAMUEL, Litai Assets
PANELISTS:
11:45 - 12:35 PM
Do you accumulate policies one by one on the secondary market, do you acquire tertiary policies or build a portfolio using both strategies? How do you successfully manage your portfolio once you've acquired it?
MODERATOR: JAN-ERIC SAMUEL, Litai Assets
PANELISTS:
- NICOLA BARRETT, Ernst & Young
- SCOTT CROHN. Vida Capital
- STEPHEN FARRIER, Madison Strategic Partners
- PAM MAULE, Asset Servicing Group
Canada: What's the Landscape for Life Settlements in the Provinces?
12:40 - 1:00 PM
North of the border, it's not Canadian law but provincial law which decides what is legal in the province where the insurance policyholder resides. This presentation gives an overview of the Canadian capital markets, the associations and agencies involved in the Canadian life insurance market, and examines the rules and regulations in each of the provinces.
SPEAKER: DANIEL KAHAN, Ontario Life Line
12:40 - 1:00 PM
North of the border, it's not Canadian law but provincial law which decides what is legal in the province where the insurance policyholder resides. This presentation gives an overview of the Canadian capital markets, the associations and agencies involved in the Canadian life insurance market, and examines the rules and regulations in each of the provinces.
SPEAKER: DANIEL KAHAN, Ontario Life Line
Networking Luncheon
1:00 - 2:00 PM
1:00 - 2:00 PM
Life Expectancies: How Are Fund Managers Analyzing Mortality Estimates?
2:00 - 2:50 PM
Fund managers increasingly are putting into place strategies to analyze life expectancies based on mortality experience with their own portfolios. Is this making the bickering between the two factions of life expectancy underwriters less relevant to the market? Are life expectancies more accurate in the three years since life expectancies were extended or is it too early to tell?
MODERATOR: ROGER ANNIN, Lewis & Ellis Actuaries & Consultants
PANELISTS:
2:00 - 2:50 PM
Fund managers increasingly are putting into place strategies to analyze life expectancies based on mortality experience with their own portfolios. Is this making the bickering between the two factions of life expectancy underwriters less relevant to the market? Are life expectancies more accurate in the three years since life expectancies were extended or is it too early to tell?
MODERATOR: ROGER ANNIN, Lewis & Ellis Actuaries & Consultants
PANELISTS:
- ANNA HART, ARHart Consulting
- RANDY MARFIN, BioPhysical
- OLIVIER MATHEY, Peachtree Asset Management
Litigation: Will Favorable Court Decisions Bring New Capital to the Market?
2:55 - 3:45 PM
Life settlement attorneys say that cases beginning from the Arthur Kramer case last year to a string of other decisions such as the Teren and Peachtree victories have favored the market. Will these decisions prompt renewed interest in the market?
MODERATOR: BRIAN CASEY, Locke Lord Bissell & Liddell
PANELISTS:
2:55 - 3:45 PM
Life settlement attorneys say that cases beginning from the Arthur Kramer case last year to a string of other decisions such as the Teren and Peachtree victories have favored the market. Will these decisions prompt renewed interest in the market?
MODERATOR: BRIAN CASEY, Locke Lord Bissell & Liddell
PANELISTS:
- THOMAS HETHERINGTON, Edison, McDowell & Hetherington
- IRA LIPSIUS, Schindel, Farman, Lipsius, Gardner & Rabinovich
- NAT SHAPO, Katten, Muchin Rosenman
- STEVEN SKLAVER, Susman Godfrey
Know Your Investment: Lessons from the Trenches
3:50 - 4:40 PM
Not all portfolios and life insurance policies are equal. Purchasers and owners of life insurance policies need to be aware of the structural, financial, documentary and legal risks in the assets they currently own as well as in assets that they intend to acquire. This panel identifies these major risks based on successful transactions in 2011. Panelists highlight methods for identifying those risks in portfolios and discuss ways to ameliorate such risks.
MODERATOR: MARK FREITAG, Living Benefits Financial Group
PANELISTS:
3:50 - 4:40 PM
Not all portfolios and life insurance policies are equal. Purchasers and owners of life insurance policies need to be aware of the structural, financial, documentary and legal risks in the assets they currently own as well as in assets that they intend to acquire. This panel identifies these major risks based on successful transactions in 2011. Panelists highlight methods for identifying those risks in portfolios and discuss ways to ameliorate such risks.
MODERATOR: MARK FREITAG, Living Benefits Financial Group
PANELISTS:
- LOUIS GEIBEL, Christiana Trust
- ALEXI PORETZ, Sidley Austin
Texas: Why is the Lone Star State Such a Magnet for Alleged Life Settlement Frauds?
4:45 - 5:30 PM
The Texas Legislature passed a law this year giving insurance regulators more tools to stop fraud, but they failed to make investments in life settlements a security. From the Retirement Value and National Life Settlements receiverships to the Life Partners' SEC investigation, this panel discusses why Texas is at the forefront for a slew of regulatory actions.
PANELISTS:
- EDUARDO ESPINOSA, K&L Gates & Retirement Value Receiver
- SCOTT GIBSON, Lewis & Ellis Actuaries & Consultants
- MILTON HAMMOND, The Law Offices of Milton G. Hammond
- ANDREW NALL, Radiant Financial
Closing Remarks
5:30 PM
5:30 PM
The Life Settlements Cocktail Reception
The Most Important Networking Event of the Year
6:00 - 7:30 PM
The Most Important Networking Event of the Year
6:00 - 7:30 PM
Friday, September 23, 2011
Breakfast & Networking
8:30 - 9:30 AM
8:30 - 9:30 AM
Securitization: What Type of Pool is Needed for a Successful Rated and Unrated Securitization?
9:35 - 10:25 AM
AIG came close to getting a $4.5 billion portfolio rated by Standard & Poor's, but the deal fell through at the last minute. What will it take to get pools of policies rated in the market? If a big player such as AIG couldn't get its pool rated, is there hope for other portfolio owners?
MODERATOR: CHIAHUA PAN, FSB FisherBroyles
PANELISTS:
9:35 - 10:25 AM
AIG came close to getting a $4.5 billion portfolio rated by Standard & Poor's, but the deal fell through at the last minute. What will it take to get pools of policies rated in the market? If a big player such as AIG couldn't get its pool rated, is there hope for other portfolio owners?
MODERATOR: CHIAHUA PAN, FSB FisherBroyles
PANELISTS:
- EMMANUEL MODU, AM Best
- NEMO PERERA, Griffin Risk Capital Partners
Legislation: What Progress Was Made This Year in Passing New Laws and Tweaking Older Ones?
10:30 - 11:20 AM
Legislatures in Arizona, Texas and Colorado passed new life settlement laws this year and legislation was put forth in California, New York, Massachusetts and Delaware to either rein in regulators, establish new oversight of the market or clarify securities regulation. How successful have these efforts been?
MODERATOR: JACK KELLY, Institutional Life Markets Association
PANELISTS:
10:30 - 11:20 AM
Legislatures in Arizona, Texas and Colorado passed new life settlement laws this year and legislation was put forth in California, New York, Massachusetts and Delaware to either rein in regulators, establish new oversight of the market or clarify securities regulation. How successful have these efforts been?
MODERATOR: JACK KELLY, Institutional Life Markets Association
PANELISTS:
- JOLENE FULLERTON, Law Office of Jolene D. Fullerton
- JOHN MCCARROLL, Q Capital Strategies
Networking Break
11:20 - 11:40 AM
11:20 - 11:40 AM
Fraud: What Will Be the Fallout of Regulatory Action against Life Partners?
11:45 - 12:35 PM
The market's only publicly traded provider has faced a high-profile Securities and Exchange Commission investigation for alleged securities fraud. Some say it will slow the return of capital, while others believe it will give more confidence that the asset is becoming a safer investment. This panel examines what the fallout of the latest regulatory action will be.
MODERATOR: STEVE SHAPIRO, Q Capital Strategies
PANELISTS:
11:45 - 12:35 PM
The market's only publicly traded provider has faced a high-profile Securities and Exchange Commission investigation for alleged securities fraud. Some say it will slow the return of capital, while others believe it will give more confidence that the asset is becoming a safer investment. This panel examines what the fallout of the latest regulatory action will be.
MODERATOR: STEVE SHAPIRO, Q Capital Strategies
PANELISTS:
- WALT PARKER, InsuranceMakesMeSick.com
- NADEEM WAEEN, Paul Weiss, Rifkind, Wharton & Garrison
- DAVID WOLFF, Iron Core Capital
Networking Luncheon
12:40 - 1:40 PM
12:40 - 1:40 PM
The Life Settlement Investor Roundtable: What Type of Investors Does the Market Need to Grow?
1:45 - 2:45 PM
Is it private equity funds that have entered for distressed portfolios or smaller investors with a longer view or a combination of both? Will pension funds continue to sit on the sidelines? Should market players only be courting institutional investors or should they pursue accredited investors?
MODERATOR: KURT GEARHART, Credit Suisse
PANELISTS:
1:45 - 2:45 PM
Is it private equity funds that have entered for distressed portfolios or smaller investors with a longer view or a combination of both? Will pension funds continue to sit on the sidelines? Should market players only be courting institutional investors or should they pursue accredited investors?
MODERATOR: KURT GEARHART, Credit Suisse
PANELISTS:
- JASON JACOBS, Silverpoint Capital
- VISHAL JHAVERI, Chronos Investment Advisors
- ANDREW MURPHY, Mosaic Management Group
- JAMES SINNOTT, Carolus Capital Advisors
License Fronting: Is this Practice Fair or Foul?
2:50 - 3:40 PM
Allegations of license fronting have circulated among industry participants for years. Is the practice of "renting" out a provider's license to an unlicensed provider acting as a funder legitimate or does it violate state insurance department laws or the intent of those laws? Panelists examine this controversial topic and debate the legal issues surrounding it.
MODERATOR: KAREN ASHER-COHEN, Radey Thomas Yon & Clark
PANELISTS:
2:50 - 3:40 PM
Allegations of license fronting have circulated among industry participants for years. Is the practice of "renting" out a provider's license to an unlicensed provider acting as a funder legitimate or does it violate state insurance department laws or the intent of those laws? Panelists examine this controversial topic and debate the legal issues surrounding it.
MODERATOR: KAREN ASHER-COHEN, Radey Thomas Yon & Clark
PANELISTS:
- RAMIRO RENCURRELL, Magna Life Settlements
- NICK WILLIAMS, Clifford Chance
Pensions: Is the Time Ripe for Pension Funds to Invest in Life Settlements?
3:45 - 4:35 PM
Life settlement market participants have been courting public pension funds in the U.S. and overseas for the last few years. Pension funds are notoriously conservative, but some market players believe they eventually will step into life settlements in a major way. Panelists discuss the hurdles that must be overcome for pension funds to step up their investment in the market.
MODERATOR: THERESA FETTE, Provident Trust Group
PANELISTS:
3:45 - 4:35 PM
Life settlement market participants have been courting public pension funds in the U.S. and overseas for the last few years. Pension funds are notoriously conservative, but some market players believe they eventually will step into life settlements in a major way. Panelists discuss the hurdles that must be overcome for pension funds to step up their investment in the market.
MODERATOR: THERESA FETTE, Provident Trust Group
PANELISTS:
- SCOTT MCMANUS, Aliya Lifespan
- ERIK NORD, Upton Park Financial
Closing Remarks
4:35 PM
4:35 PM
Purchase The Life Settlements Conference 2011 Audio/Book Kit today and you'll receive a CD featuring all panel discussions and presentation audio, along with the Event Book & Resource Guide.