3rd Life Settlements and Longevity Summit


Published on

IQPC’s 3rd Life Settlements & Longevity Summit has been specifically designed to help investors make sense of the opportunities and pitfalls of this investment class. Whether you’re an experienced investor or new to the market and still evaluating the suitability of the asset class, this conference delivers invaluable insights ensuring you make the best possible decisions for superior returns.

Topics will include: Federal Oversight New Investment Structures (Fusion and Sharia-Compliant products) Transitioning to the Tertiary market and many others!

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

3rd Life Settlements and Longevity Summit

  1. 1. “Informative, well put-on, and great networking!” Register for the All-Access Pass - Matthew Browndorf, Founder & CIO, Browndorf PEM by February 5th and SAVE $949! 3rd Life Settlements & Longevity Summit TM Enhancing your Returns through Strategic Investments in Life Settlements, Longevity-Linked Assets, Synthetics & Life Settlement Securitizations March 24 – 25, 2010 New York, NY 30+ industry-leading speakers, including the following thought-leaders, fund managers and investors: Jonathan Sadowsky Rocky Roland Thomas Schmitt David Nelson Managing Director of CFA, Founder Managing Partner VP & Chief Operating Officer Finance Alternative Augur Capital LLC Chartwell Asset Browndorf PEM Investment Services Management Eamonn Ling Arthur Bowen Benjamin Geber Robert Clayton Lau Head of Investments Investment Director CEO & Managing Partner President and Chief Catalyst Investment Tranen Capital Bally Capital Management Executive Officer Group Clayton Dunning Partners 70% of speakers new for 2010! New for 2010: Keynote Speakers: • Multi-strategy hedge fund perspectives on accessing the longevity How Long Will We Live in asset class the 21st Century? • Transitioning to the tertiary market: Implications for investors, brokers David Kekich and providers President & CEO • Browndorf PEM workshop on engineering life settlement hybrid Maximum Life Foundation products • Accessing the expanding Islamic finance market through Shari’ah-compliant NASAA’s Role in the Future of longevity investments Life Settlements Regulation • Responding to the twin imperatives of privacy and transparency Fred J Joseph • Overcoming the challenge of negative PR Commissioner • Investment best practices for pension funds and institutional investors Colorado Securities Commission Sponsors: Media partners: 1-800-882-8684 • www.lifesettlementsummit.com
  2. 2. 3rd An Outstanding Line- Life Settlements up of Investors, Fund Managers and Industry Experts: & Longevity • Commissioner Fred J Joseph, Colorado Securities Commission & Chairman, Life Summit TM Settlements Committee, North American Securities Administrators Association (NASAA) – New! • David Kekich, President & CEO, Maximum Life Foundation – New! • Ari Glass, President, Paine Heights Capital Management – New! Dear Colleague, • Bjorn Schmolck, Co-Founder, Traymar Capital Ltd – New! 2010 looks set to be one of the most eventful for the life settlements mark Peter Dodd, Fund Director, Fortress continuing at a blistering pace alon et, with innovation • gside new regulatory pressures, International Fund Management – New! dynamics, and increasingly prob shifting investment lematic PR. • Matthew Browndorf, Founder & Chief Following a misleading portrayal in Investment Officer, Browndorf PEM the New York Times in late 2009, industry has been coming under incre the life settlements asing scrutiny – not all of it justified. • Jonathan Sadowsky, Managing to be that some form of federal over The upshot seems sight is coming to the marketplace Director of Finance, Browndorf PEM – details remain uncertain. What will in 2010, but the the impact be for investors, providers New! participants? How will the new fede , and other market ral oversight interact with existing which already exhibit significant varie state regulations, • Benjamin Geber, CEO & Managing ty? If you’re concerned about the Partner, Bally Capital Management – environment, you won’t want to miss new regulatory a much-awaited keynote address New! Fred Joseph, Colorado Securitie from Commissioner s Commissioner and Chairman Settlements Committee, who will of NASAA’s new Life • Eamonn Ling, Head of Investments, not only speak about the new com regulating life settlements but more mittee’s role in Catalyst Investment Group broadly about the future of regulatio particularly at the federal level. See n in the space, page 4 for further details. • Rocky Roland CFA, Founder, Alternative At the same time, exciting new struc Investment Services – New! tures and investment strategies cont innovation that is needed to overcom inue to supply the • William Fink, Partner, Delta Derivatives e challenges like longevity extension imposed restrictions. “Fusion” prod risk and investor- LLC – New! ucts, which involve the blending of alternative investment types, have life settlements with Gene Miao, Managing Director, recently been touted as an exciting • longevity risk – and are finally start hedging tool for Highland Capital Management ing get the coverage they deserve. honored to welcome back Matthew In this light, we are Browndorf from Browndorf PEM • Arthur Bowen, Investment Director, an in-depth workshop on the struc who will be leading turing challenges of life settlemen Tranen Capital – New! further details). Shariah-compliant t hybrids (see page 3 for investment strategies have simil to expand the investor universe for arly emerged in 2009 • David Nelson, VP & Chief Operating this promising, non-correlated asset class – see page 4. Officer, Chartwell Asset Management With over 70% of speakers new – New! for 2010, Finance IQ continues to keynotes, fund managers and inves deliver perspectives, tors that you won’t find anywhere • Zach Murphy, Director, CRE & Longevity confirmed to speak include Paine else. New hedge funds Heights Capital, Traymar Capital, Risk, Silverpoint Capital LLC – New! Bally Capital Management, Silve Fortress, Tranen, rpoint and Clayton Dunning, amo Thomas Schmitt, Managing Partner, Furthermore, we are extremely excit ng many others. • ed to feature a keynote guest addr Augur Capital LLC President & CEO of the Maximum ess by David Kekich – Life Foundation – who will deliv thought-provoking insights into the er fascinating and • Beat Hess, Managing Partner, AA future of human longevity. Kekich venture capital investor who turned – an ultra-successful Partners his life to aging research after a perso young age – also boasts one of the nal tragedy at a most inspiring stories of any of our • Andrew Terrell, Principal, Atlantic Street More details on his unique address keynote speakers. can be found on page 6. Fund Management Partners It’s truly an exciting time to be evalu • Robert Clayton Lau, President and ating and/or investing in longevity Chief Executive Officer, Clayton Dunning look forward to meeting you in New -based assets. I greatly York next March, at the third insta Partners – New! successful life settlements series. llment of IQPC’s • Michael Freedman, SVP, Government Kind regards, Affairs, Coventry • Scott Willkomm, SVP, Business Don miss the Browndorf ’t Development, Coventry PEM workshop on “fusion ” • P. A. Corky Gillis, Author, “The Death Bond Conspiracy” – New! Toby Donovan life settlement products Program Director – see page 6! Who Will Attend: ■ 8% Pension Funds & Institutional Investors ■ 22% Hedge Funds For investors interested in life settlements, there are exciting opportunities but ■ 15% Asset Management Firms & Other a number of pitfalls too that can catch the unwary. Attending IQPC’s Life Buyside ■ 15% Banks Settlements conference is a great way to make sense of this promising, ■ 15% Life Settlement uncorrelated, yet challenging asset class Companies ■ 10% Law Firms – Christopher McGlashan, Special Counsel, Stroock & Stroock & Lavan, LLP ■ 10% LE Provers & Underwriters ■ 5% 2 1-800-882-8684 www.lifesettlementsummit.com Other
  3. 3. Main Conference Day 1 Wednesday, March 24, 2010 7:30 Coffee & Registration 11:15 Investor Perspectives on Longevity Derivatives: Trading Strategies to Deliver Enhanced Returns 8:15 Chairman’s Opening Remarks • Packaging longevity derivatives effectively for investor and insurer groups • Considerations on indices and the capturing of sample populations 8:30 The State of the Market Today: Innovation, • Determining the most effective use of leverage Regulation and Consolidation • Comparing return dynamics versus traditional investments in life • Examining the biggest challenges currently facing the long-term settlements viability of the asset class • Examining the scope for further innovation in the longevity derivatives • Evaluating the success of innovation in investment product structures space • A closer look at the three emerging regulatory paradigms: Which is Bjorn Schmolck gaining ascendance? Co-Founder • Understanding the shift in market dynamics over the past year Traymar Capital Ltd Scott Willkomm Benjamin Geber SVP CEO & Managing Partner Coventry Bally Capital Management Matthew Browndorf Beat Hess Founder & Chief Investment Officer Managing Partner Browndorf PEM AA Partners 9:15 Investor Perspectives on the Asset Class: 12:00 Keynote Address: Lifting the Lid on NASAA’s Role in Understanding the Role Played by Life Settlements the Future of Life Settlements Regulation in a Diversified Portfolio • Understanding the role of NASAA’s Life Settlements Committee in • Understanding the most appealing aspects of exposure to the life monitoring emerging trends in the marketplace settlements investment class • Examining the most significant threats to investors and consumers • Identifying the dangers of investing in life settlements • Considerations on whether the sale of life settlements should be • Diversification strategies for life settlement investors: Determining the regarded as securities transactions most effective blends of LEs and impairment types • STOLI, insurable interest, and the future of life settlements regulation • Linking fund structure and management style to investment horizons and objectives Commissioner Fred J Joseph Keynote • Understanding the role played by life settlements in a diversified asset Colorado Securities Commissioner & President Regulatory allocation strategy North American Securities Administrators Association Address • Comparing longevity-based investments with alternative portfolio diversifiers 12:45 Networking Luncheon Robert Clayton Lau 2:00 Securitization of Life Settlements: Poison or Panacea President and Chief Executive Officer Hear from the Hedge for the Industry? Clayton Dunning Partners Funds • Examining the progress towards making securitization more mainstream David Nelson • Understanding the obstacles to a deeper securitization market: VP & Chief Operating Officer • Hesitancy among rating agencies Chartwell Asset Management • Insufficient life settlement ownership concentration • Regulatory concerns and publicity problems Gene Miao • How large do we want the securitization market to be? Managing Director • Pinpointing the benefits of securitization for new types of investor Highland Capital Management Jonathan Sadowsky Ari Glass Managing Director of Finance President Browndorf PEM Paine Heights Capital Management Peter Dodd 10:00 Mid-Morning Coffee & Networking Break Fund Director Fortress International Wealth Management 10:30 Accessing the Expanding Islamic Finance Market through Shari’ah-Compliant Longevity Investments 2:45 Asian Investment Interest in the Life Settlements • Applying Islamic law to the longevity asset class Market • Delivering a platform that enables an investor to couple an existing or • Identifying the sources and types of Asia-Pacific investment capital newly acquired Shari'ah-compliant asset with longevity assets • Examining the geographical dispersal of Asian investors throughout • Bundling non-correlated longevity assets with volatile distressed Thailand, Malaysia, Singapore, Hong Kong, and Australasia Shariah assets such as Real Estate and Islamic Sukuk • Understanding the role that life settlements play in Asia-Pacific asset • Examining the dynamics of shari’ah compliant longevity investments allocation strategies compared with traditional investments in the • Overcoming the obstacles to attracting Asia-Pacific investment capital asset class Arthur Bowen Session Reserved for Leading Law Firm Investment Director Tranen Capital Eamonn Ling Head of Investments Catalyst Investment Group 3 1-800-882-8684 www.lifesettlementsummit.com
  4. 4. Main Conference Day 1 Continued 3:30 Transitioning to the Tertiary Market: Implications for 4:45 Afternoon Guest Address: Sex, Violence, Providers, Brokers and Investors and Stranger-Originated Life Insurance: The • Measuring saturation levels: How much of the market has been Inspiration Behind the “Death Bond Conspiracy” settled out? • The inspiration for the novel • Determining what the effects will be on market dynamics as • Realistic? Determining the extent to which the events described in the saturation approaches 100% novel could theoretically occur today • What does the tertiary market look like? What kinds of companies • Actual tales from the fringes of the market place will achieve dominance? P. A. Corky Gillis • Understanding what the implications of a transitioning Author market will be for providers, brokers and investors “The Death Bond Conspiracy” Rocky Roland CFA, Founder 5:30 Cocktail Reception Alternative Investment Services 6:30 Networking Dinner 8:00 End of Main Conference Day 1 Main Conference Day 2 Thursday, March 25, 2010 7:30 Coffee & Registration • Are privacy and transparency genuinely compatible, or do they represent conflicting drivers for the marketplace? 8:15 Chairman’s Opening Remarks Andrew Terrell Principal 8:30 Pension Fund Investment Strategies: Institutional Atlantic Street Fund Management Partners Best Practices for Gaining Exposure to the Longevity Asset Class Benjamin Geber • Identifying the most significant risks of investing in longevity from an CEO & Managing Partner institutional viewpoint Bally Capital Management • Comparing physical and synthetic approaches to longevity investments • Considerations on making the selection between providers, LE 10:45 Mid-Morning Coffee & Networking Break providers, and other investment partners • Understanding how smart policy selection can make life settlements 11:15 The Problem of Negative PR: Is the Life Settlements an LDI-suitable asset class Industry Winning or Losing the Publicity Battle? • Examining the major sources of negative publiclity over the past 18 months: Zach Murphy • The sub-prime debacle, and fuzzy associations with the “spectre” Director, CRE & Longevity Disk Pension Fund of life settlement securitizations Silverpoint Capital LLC Investment • Newspaper articles and press treatment Strategies • Sleaze, fraud, and a few “bad apples” Scott Willkomm SVP • Does the life settlements industry deserve the reputation it is acquiring? Coventry • Determining the most effective strategies for winning the publicity war Eamonn Ling 9:15 Towards a Deeper Understanding of Older-Age Head of Investments Mortality: What LE Providers can do to Further Catalyst Investment Group Enhance Longevity Analyses • Charting the evolution of LE perspectives on older age mortality Thomas Schmitt • Understanding how the methodologies of different LE providers differ Managing Partner • Quantifying the differences between competing LE providers: Are Augur Capital LLC significant variances confined to the past? • Evaluating the scope for further enhancing the accuracy of LEs 12:00 Choosing Between Asset Servicing Providers: Is it Purely a Question of Cost? Session Reserved for Leading LE Underwriter • Understanding how market dynamics are increasing the importance of effective asset servicing 10:00 Transparency and Privacy in the Life Settlements • Distinguishing between high-value and low-value servicing activities Market: Incompatible Goals? • Identifying the tools available to reduce portfolio servicing costs • Examining the importance of access to reliable and consistent • Quantifying the savings possible over the lifetime of a typical portfolio information on asset quality, pricing, valuation, and • Examining the ways in which aggressive deployment of higher value transaction costs servicing activities can dramatically improve the IRR of your portfolio • A closer look at state and federal laws that enforce privacy of medical records, including HIPAA William Fink • Identifying the most effective strategies for ensuring transparency of Partner the asset whilst maintaining the privacy of the insured Delta Derivatives LLC 4 1-800-882-8684 www.lifesettlementsummit.com
  5. 5. Main Conference Day 2 Continued 12:45 Networking Luncheon David Kekich President & CEO 2:00 Keynote Guest Address: How Long Will Maximum Life Foundation We Live in the 21st Century? Mr. Kekich founded the country’s largest life insurance Future • Examining the factors that will continue to play a role in the extension master general agency, co-founded a major financial Human of longevity: services company and arranged venture capital funding Longevity • Biotechnology & genetic engineering Trends for private companies. He is a recognized expert on • Improvements in diet private investing and authored the venture capital handbook • Medical advancements in the treatment of cancer, respiratory “How the Rich Get Richer with Quiet Private Investments”. and heart disease • Examining the factors likely to increase levels of mortality: Mr. Kekich founded both public and private companies, was engaged as • Obesity & the “sedentrification” of the Western a consultant and served as director to numerous private and public lifestyle corporations. He also sold and developed real estate. In 1999, Mr. • Flu and the risk of pandemics Kekich founded the “Maximum Life Foundation”, a 501(c)(3) • Population growth and geopolitical tensions corporation dedicated to curing aging related diseases. • Combining the factors into a unified model: How will our longevity be influenced by changes in 21st century life? 2:45 Post-Conference Workshop Post-Conference Workshop Thursday, March 25, 2010 3:00 pm – 5:00 pm (Registration at 2:45 pm) Life Settlement “Hybrids”: Effectively Structuring Fusion Products to Expand the Investor Base for Longevity-Based Investments One of the major risks associated with traditional investments in life Matthew C. Browndorf is the founding and managing member of settlements is that of longevity extension: the chance that – whether Browndorf PEM, LLC. Mr. Browndorf has successfully led Browndorf PEM through underwriting error or sheer bad luck – a portfolio of life during the past two years and navigated the Firm through perilous credit settlements takes longer than expected to mature. Longevity extension, if climates to form four successful and emerging Funds with absolute return it is acute, can significantly reduce the returns on a portfolio or even features and diverse asset classes such as Longevity, film equities and other eliminate them entirely, turning the investment into a source of loss. illiquid assets. Mr. Browndorf is a pioneer in risk-mitigation strategies involving longevity-linked principal protection and structured products. One new strategy for mitigating extension risk is blending or “fusing” life Prior to joining Browndorf PEM, Mr. Browndorf was an attorney in settlements with other alternative asset classes, to create life settlement Manhattan, New York (most notably at Bryan Cave LLP and Buchanan “hybrids”. These new life settlement products preserve much of the Ingersoll PC), where he represented securities brokers and private clients in uncorrelated characteristics of the asset class, but remove the sting of a securities and white collar criminal litigation, including the notable People possible longevity extension scenario. Matthew Browndorf and Jonathan of New York v. Kozlowski and Swartz litigation involving TYCO. Sadowsky – both of Browndorf PEM – have pioneered the approach in recent months, and will guide you the challenges of structuring these Jonathan Sadowsky investments most effectively. Managing Director of Finance What You Will Learn: Browndorf PEM • Understand the concept of life settlement “hybrids” Jonathan T. Sadowsky, Managing Director of Finance and Portfolio • Determine the most effective assets for inclusion within fusion products • Examine the ways in which fusion products react within different market Manager, manages all of the Browndorf Life Settlement Funds, which specializes in obtaining longevity risk both in synthetic and physical form. scenarios As one of the only buy-side hedge funds to specialize in the asset class in • Identify the investor types most likely to benefit from fusion products synthetic form, Browndorf PEM specializes in a distinct combination of qualitative and quantitative analysis to opportunistically and efficiently How You Will Benefit: manage longevity assets and their risks. • Engineer product structures that mitigate longevity risk • Reduce your exposure to underwriting error Mr. Sadowsky's prior derivatives modeling and risk management • Create new sources of diversity within a portfolio, beyond multiple lives experience allow the fund to efficiently manage longevity risk in synthetic • Attract new kinds of investor form, which mitigates all of the unwanted physical policy risks most life settlement assets carry. About the Workshop Leaders: Interested in attending the workshop? Make sure you register for Matthew Browndorf the All-Access Pass – Main Conference & Post-Conference Workshop Founder & Chief Investment Officer – on the registration form. Browndorf PEM 5 1-800-882-8684 www.lifesettlementsummit.com
  6. 6. About Our Sponsors For over 25 years, Coventry has been redefining insurance. Founded in 1982, Coventry began as an insurance marketing, product development and policy administration firm. Known as a leading innovator in the industry, Coventry assisted insurance carriers in the development of product, software and distribution. It established itself as one of the top corporate life insurance companies in America during the 1990s, servicing over 70,000 policies for its corporate clients. In 1998, Coventry created the secondary market for life insurance in the United States and coined the term “life settlement”. As the market leader, Coventry has structured and financed transactions representing more than $25 billion of death benefit and has been a key driver behind the market’s rapid growth. Today, Coventry is the largest purchaser and servicer in the longevity and mortality market, employing more than 200 people. Based in Pennsylvania, Coventry was the first secondary market firm to earn Standard and Poor’s highest servicer ranking (2004 and reaffirmed in 2006). In 2005, Coventry was first in revenue in the insurance category of the annual Inc. 500 listing of the fastest growing private companies in America. Website: www.coventry.com Sponsorship And Exhibition Opportunities Sponsorships and exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision-makers attending the 3rd Life Settlements & Longevity Summit. IQPC and Finance IQ help companies like yours achieve important sales, marketing and branding objectives by setting aside a limited number of event sponsorships and exhibit spaces – all of which are tailored to assist your organization in creating a platform to maximize its exposure at the event. For more information on sponsoring or exhibiting at the 3rd Life Settlements & Longevity Summit, please contact Mario Matulich at 212-885-2719 or sponsorship@iqpc.com. It was a great conference. The topics were well selected, and the event was very well managed. Thanks for your effort. – KT Huang, Managing Director, Emeritus Group Registration Information Team Discounts: For information on team discounts, please Book and Pay by Book and Pay by Standard contact IQPC Customer Service at 1-800-882-8684. Only one discount 5-Feb-10 5-Mar-10 Price may be applied per registrant. All-Access Pass: Includes Special Discounts Available: A limited number of discounts are available for the non-profit sector, government organizations and academia. For more Post-Conference Workshop (save $949) (save $549) (save $149) information, please contact customer service at 1-800-882-8684. + Main Conference $1,399 $1,799 $2,199 Details for making payment via EFT or wire transfer: JPMorgan Chase - Penton Learning Systems LLC dba Conference Only (save $800) (save $300) IQPC: 957-097239 $999 $1,499 $1,799 ABA/Routing #: 021000021 Reference: Please include the name of the attendee(s) and the event number: 17092.003 Workshop Only $549 $549 $549 Payment Policy: Payment is due in full at the time of registration and includes lunches and refreshment. Your registration will not be confirmed until payment is received and Please note multiple discounts cannot be combined. may be subject to cancellation. A $99 processing charge will be assessed to all registrations not accompanied by credit card payment at the time of For IQPC’s Cancellation, Postponement and Substitution Policy, please visit registration. www.iqpc.com/cancellation MAKE CHECKS PAYABLE IN U.S. DOLLARS TO: IQPC Special Dietary Needs: If you have a dietary restriction, please contact Customer * CT residents or people employed in the state of CT must add 6% sales tax. Service at 1-800-882-8684 to discuss your specific needs. Venue Information: Venue is to be announced. Please check the website at www.lifesettlementsummit.com for ©2010 IQPC. All Rights Reserved. The format, design, content and arrangement of this updates and announcements. brochure constitute a trademark of IQPC. Unauthorized reproduction will be actionable under the Lanham Act and common law principles. 3rd YES! Please register me for Life Settlements & Longevity Summit TM ❑ All Access Pass ❑ Conference Only ❑ Workshop Only Name ____________________________________________________________ Job Title _________________________________________________ Organization______________________________________________________ Approving Manager________________________________________ Address _____________________________________________ City___________________________________State__________Zip__________ Phone________________________________________________E-mail_________________________________________________________________ ❑ Please keep me informed via email about this and other related events. ❑ Check enclosed for $_________ (Payable to IQPC) ❑ Charge my ❑ Amex ❑ Visa ❑Mastercard ❑ Diners Club Card #_______________________________Exp. Date___/___ ❑ I cannot attend, but please keep me informed of all future events. 6 1-800-882-8684 www.lifesettlementsummit.com