As the Baby Boomer population continues to age and the need for the securitization of life insurance policies increases, more financial institutions are looking towards longevity and mortality risk trading as a solution. There is a pressing need for innovative financial products and strategies that have the ability to hedge longevity exposure for pension funds, reinsurance companies, and governments. To fill this growing demand in the financial marketplace, products and strategies are being developed with the use of life settlements and linked securities.
Written for professional traders and institutional investors, Life Markets offers a comprehensive guide to the growing field of life settlements and linked securities. Life settlements offer innovative financial interactions for elderly individuals who sell their insurance policies to investors for a percentage of the coverage amount—which is greater than the cash surrender value offered by the insurance company that wrote the policy. Given today's volatile stock market, investors are finding life settlements and other related securities to be a safe haven that guarantees them solid returns and a stable financial future.
With Life Markets, internationally acclaimed expert Vishaal Bhuyan and a team of coauthors from leading financial institutions, hedge funds, actuarial firms, law firms, and universities provide a complete analysis of the life settlement market and show you how to trade with confidence in this burgeoning market. Comprehensive in scope, Life Markets covers a wealth of material touching on everything from the history of life settlements to making a transaction—pricing, service providers, and exchanges. The book also explores regulatory issues and insurance company reaction, tax implications, and examines the ethical issues surrounding profiting from mortality.
Life Markets is the just-in-time resource that examines the myriad of issues surrounding longevity finance for anyone considering entering this dynamic market. From the Back Cover
Praise for Life Markets
"This is certainly not a coffee table book, but an extremely comprehensive and in-depth study of the problems associated with longevity and an aging population and how individuals and financial institutions can benefit from trading in life settlements and linked securities." —Dr. Marc Faber, Editor, Gloom, Boom & Doom Report
" The team's insights are keen and their approach crisp; this is useful information for professionals in the field." —Steve Acunto, Editor, Insurance Advocate magazine
"Vishaal Bhuyan has assembled leading practitioners and academics in the longevity/mortality space to analyze in depth the intricacies of investing in life settlements. In a rapidly changing marketplace that still remains transparency-challenged, Vishaal and his coauthors provide an indispensable tool to both the novice and the experienced investor thus shifting the risk/reward balance of life settlements investing." —Robin Willi, Head of Life Settlements, BlueCrest Capital Management
Coauthors include Micah Bloomfield, Boris Ziser, and Joseph Selvidio of Stroock & Stroock & Lavan; David Blake and Debbie Harrison of the Pensions Institute; James Cavoli of Life Settlement Insights; Mike Fasano of Fasano Associates; Congressman George Keiser; Joseph Mason of the Wharton School; Emannuel Modu of A.M. Best; Antony Mott of ICAP Capital Markets; Nemo Perera of Risk Capital Partners; Hal Singer of Criterion Economics; Charles A. Stone and Anne Zissu of The-Financier.com; and Matthew Browndorf and Jonathan Sadowsky of Browndorf PEM