Main Conference Day 1: Tuesday, September 28, 2010
7:30 Registration & Coffee
8:25 Chair’s Opening Remarks
8:30 Panel Discussion: Market Review And Forecast For
Life Settlements & Longevity-Based Products - When
Will The Capital Return? Where Is The Liquidity?
- Analyzing fund performance
- How to get funding and liquidity into the marketplace:
- - When will bank lending free up, lines of credit extended, and spreads widen?
- We are still in a buyers’ market? How could this change?
- Evaluating the conceived market barriers:
- Transparency issues
- Reputational risk
- Valuation challenges
- Cashflow risk
- Longevity risk
- Extension risk
- The impact of new longevity-based products on market activity and liquidity
- The emergence of new players in the life settlements market
- Where next for the insurance carriers?
- - Discussing carrier conduct issues, such as pricing, and the future role of carriers
- The future for life settlements: what other factors could drive market changes?
Moderator:
Andrew Plevin
Co-CEO, BroadRiver Asset Management
LLC
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Jack Kelly
Managing Director
Institutional Life Markets Association (ILMA)
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Antony R. Mott
Managing Director, Structured Insurance Products
ICAP Capital Markets LLC
|
|
Eddie Stone
Managing Partner
Stone Beach Capital
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9:15 NEW! Fund Manager Perspectives On Managing Downside Risk In Life Settlements
- Educating end investors on tools for managing downside risk
- Longevity risk:
- Setting realistic expectations on IRR and projected yields
- Risk mitigation strategies at the asset level: policy origination, insurability, etc
- Selecting the right LE provider
- Accurate valuation for portfolio pricing
- Cashflow risk:
- Ensuring adequate reserve funds
- Using synthetic longevity products to manage cashflow risks
Moderator:
David Rawson-Mackenzie
Director
Centurion Fund Managers Ltd
|
David Marinoff
Managing Director
Guggenheim Capital LLC
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Zach Murphy
CRE & Longevity Desk
Silver Point Capital LP
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10:00 NEW! The Changing Investor Landscape – Insights
On Private Equity Firms As New Players In The Life
Settlements Market
Hear about private equity perspectives on the opportunities, challenges,
risks and returns of investing in life settlement portfolios.
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Ron D'Vari
PhD, CFA, Chief Executive Officer
NewOak Capital LLC
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Manish Kapoor
Managing Director
West Wheelock Capital
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10:45 Morning Coffee & Networking Break
11:30 Emerging Developments In The Regulation Of Life Settlements: Preparing For 2011 And Beyond
- Insurance Regulator’s perspective
- How will the new Financial Services Reform Bill impact life settlements?
- Update on the SEC’s agency-wide taskforce on life settlements
- How states are responding to carriers’ anti-consumer conduct
- Outlook for legislation and regulation in 2011 and beyond
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Michael Freedman
Senior Vice President - Government Affairs
Coventry
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Doug Head
Executive Director
Life Insurance Settlement Association (LISA)
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12:15 Newsflash: Update On The GAO’s Expected Report On
Life Settlements
This session will discuss the report expected to be issued by the
Government Accountability Office on life settlements, and its potential
implications for the industry.
12:45 Lunch
2:15 Understanding New And Different Approaches To Life Settlement Underwriting And Determining The Usefulness Of Mortality Tables
- What are the key factors for accurate, unbiased life expectancy estimates?
- Is relative risk independent of mortality tables?
- What deliverables do investors need to use life expectancies meaningfully in pricing and valuation?
- Does one underwriting approach make sense in all settings?
- Determining how modeling techniques can be effectively used
- Identifying the core elements involved in mortality table development
Michael Fasano
President
Fasano & Associates
3:00 NEW! Tax Strategies: Update On New Developments
In IRS Rulings, Life Synthetic Structures, UCIT
Directive, And More
- Demystifying the latest developments and potential changes in:
- Revenue Ruling 2009-13
- Revenue Ruling 2009-14
- How will these developments impact buyers and sellers of life settlement products?
- Will current IRS rulings be expanded to cover losses of life settlements, and the treatment of cash surrender values?
- Could new regulations reverse the trend of creating offshore vehicles and non-treaty based investments?
- Structuring issues relating to life synthetic assets, for investors inside and outside treaty countries
- Update on potential opportunities created by the UCIT directive in Europe: could life settlement assets be part of a UCIT portfolio?
Roger Lorence
Partner
Sadis & Goldberg LLP
3:45 Afternoon Networking Break
4:30 NEW! Perspectives From Reinsurance Providers On
Life Settlements & Longevity-Based Products
Gain an understanding on how reinsurance providers are entering the life settlements and longevity market: what new products are being developed and what has been the market response?
Matthew Daitch
FSA, MAAA, CFA, Inforce Management Leader
Transamerica Reinsurance
5:15 End Of Main Conference Day 1