The document outlines a policy acquisition platform for senior life settlement policies with an option for reinsurance guarantee. Key details include:
- The platform allows buyers to acquire portfolios of senior life settlement policies with a minimum 80% payout of face value guaranteed after 10 years via reinsurance.
- The process involves buyers submitting proof of funds, receiving policy portfolios to evaluate, accepting policies via letter of intent, and obtaining an initial reinsurance term sheet.
- If the buyer accepts the term sheet, funds are transferred into escrow, policies are transferred to the buyer and reinsurer, and final contracts are executed providing the reinsurance guarantee.
This document provides an overview of income recognition, asset classification, and provisioning norms for banks in India. It discusses key definitions such as non-performing assets (NPAs) and explains the process for classifying assets as standard, special mention, sub-standard, doubtful, or loss depending on the number of days an asset is overdue. It also outlines the provisioning requirements for different asset classifications according to Reserve Bank of India guidelines. The document concludes with an example showing how to calculate gross and net advances and NPAs.
This document summarizes the Qualified Mortgage (QM) final rule established by the Consumer Financial Protection Bureau under the Dodd-Frank Act. Key points of the rule include that lenders must verify a borrower's ability to repay and meet standards such as a maximum 43% debt-to-income ratio. Loans meeting Qualified Mortgage standards have a legal presumption of complying with the ability-to-repay requirements and those within 1.5% of average rates have a "safe harbor" protection against litigation. The rule aims to prohibit predatory lending while clarifying standards for responsible lending.
The SARFAESI Act allows banks and financial institutions to recover non-performing assets (NPAs) through securitization or asset reconstruction. It established provisions for registration and regulation of securitization companies and asset reconstruction companies. These companies can acquire financial assets from banks, issue security receipts to qualified institutional buyers, and employ measures to resolve NPAs such as debt restructuring, taking possession of collateral, and changing borrower management. However, issues with the SARFAESI Act include a thin investor base limited to qualified buyers and investor appetite focused only on short-term, highly-rated securities.
This document summarizes key aspects of SMSF borrowing rules under sections 67(4A), 67A and 67B of the Superannuation Industry Supervision Act. It discusses the changes made by sections 67A and 67B, and compares them to the previous rules under section 67(4A). It also outlines several unresolved issues around concepts like the 'single acquirable asset' and the nature of holding trusts.
The document discusses the Islamic Financial Accounting Standard 2 (IFAS 2) on Ijarah (leasing). It defines Ijarah, describes the different types of Ijarah, and highlights the key differences between accounting for Ijarah and conventional finance leases. It also provides examples of accounting entries and disclosures required for Ijarah transactions as per IFAS 2, including recognition of Ijarah assets and rental income/expenses over the lease term. Common questions around classification of Ijarah assets/income and provisioning are also discussed.
This presentation discusses repayment of loans, interest rates, and penalties. It defines key terms like loan, repayment, interest rate and protection against penalties. It describes different types of loans and interest rates, as well as factors affecting interest rates. It discusses fixed versus floating interest rates and the purpose of prepayment penalties for lenders. The presentation provides an example case law and concludes that repayment usually consists of periodic payments of principal plus interest, while failure to repay can damage credit ratings.
This document provides an overview and agenda for a CALHFA program training offered through Affinity Lending Group. It discusses CalHFA eligibility guidelines including income limits, sales price limits, and underwriting standards. It also outlines CalHFA's first mortgage and down payment assistance programs, as well as Affinity Lending Group's support services.
This document provides an overview of income recognition, asset classification, and provisioning norms for banks in India. It discusses key definitions such as non-performing assets (NPAs) and explains the process for classifying assets as standard, special mention, sub-standard, doubtful, or loss depending on the number of days an asset is overdue. It also outlines the provisioning requirements for different asset classifications according to Reserve Bank of India guidelines. The document concludes with an example showing how to calculate gross and net advances and NPAs.
This document summarizes the Qualified Mortgage (QM) final rule established by the Consumer Financial Protection Bureau under the Dodd-Frank Act. Key points of the rule include that lenders must verify a borrower's ability to repay and meet standards such as a maximum 43% debt-to-income ratio. Loans meeting Qualified Mortgage standards have a legal presumption of complying with the ability-to-repay requirements and those within 1.5% of average rates have a "safe harbor" protection against litigation. The rule aims to prohibit predatory lending while clarifying standards for responsible lending.
The SARFAESI Act allows banks and financial institutions to recover non-performing assets (NPAs) through securitization or asset reconstruction. It established provisions for registration and regulation of securitization companies and asset reconstruction companies. These companies can acquire financial assets from banks, issue security receipts to qualified institutional buyers, and employ measures to resolve NPAs such as debt restructuring, taking possession of collateral, and changing borrower management. However, issues with the SARFAESI Act include a thin investor base limited to qualified buyers and investor appetite focused only on short-term, highly-rated securities.
This document summarizes key aspects of SMSF borrowing rules under sections 67(4A), 67A and 67B of the Superannuation Industry Supervision Act. It discusses the changes made by sections 67A and 67B, and compares them to the previous rules under section 67(4A). It also outlines several unresolved issues around concepts like the 'single acquirable asset' and the nature of holding trusts.
The document discusses the Islamic Financial Accounting Standard 2 (IFAS 2) on Ijarah (leasing). It defines Ijarah, describes the different types of Ijarah, and highlights the key differences between accounting for Ijarah and conventional finance leases. It also provides examples of accounting entries and disclosures required for Ijarah transactions as per IFAS 2, including recognition of Ijarah assets and rental income/expenses over the lease term. Common questions around classification of Ijarah assets/income and provisioning are also discussed.
This presentation discusses repayment of loans, interest rates, and penalties. It defines key terms like loan, repayment, interest rate and protection against penalties. It describes different types of loans and interest rates, as well as factors affecting interest rates. It discusses fixed versus floating interest rates and the purpose of prepayment penalties for lenders. The presentation provides an example case law and concludes that repayment usually consists of periodic payments of principal plus interest, while failure to repay can damage credit ratings.
This document provides an overview and agenda for a CALHFA program training offered through Affinity Lending Group. It discusses CalHFA eligibility guidelines including income limits, sales price limits, and underwriting standards. It also outlines CalHFA's first mortgage and down payment assistance programs, as well as Affinity Lending Group's support services.
The document discusses the need for an independent legal framework to adjudicate Islamic finance disputes, as existing courts inadequately apply Sharia law. It analyzes two cases (Beximco, Blom Bank) to show how English common law disassociates Islamic aspects when governing Islamic finance contracts. The Dubai World Islamic Finance Arbitration Center (DWIFAC) and its jurisprudence office (DWIFACJO) could offer a globally recognized arbitration center for Islamic finance disputes. DWIFACJO may establish a uniform Islamic banking law and standardized dispute resolution contract to create legal certainty for the industry.
Topic iv. ijarah and other non participatroty modes of islamic finance(2)SaudBilal1
The document discusses various Islamic finance contracts, including Ijarah (leasing), Salam (prepaid forward sale), and Istisna (commission to manufacture).
Ijarah allows the transfer of the use of an asset in exchange for rent payments, while ownership remains with the lessor. It can be used as a financing structure. Salam and Istisna allow the sale of goods before they come into existence, which is normally prohibited, with conditions. Salam requires full prepayment while Istisna does not. Istisna also allows the time of delivery to be unspecified. Both Salam and Istisna can be used as financing modes. The document outlines the rules and structures
The document summarizes the lending policies of banks in Australia. It outlines policies regarding maximum loan amounts and loan-to-value ratios that vary based on the size of the loan. It also discusses acceptable borrowers, income requirements, property valuations, debt consolidation, and unacceptable loan purposes. Key considerations for banks include borrower ability to repay, value of property collateral, and risk level of the loan.
The document describes LoanXpress.com, which provides loans against various types of securities pledged as collateral, including stocks, mutual funds, gold, insurance policies, and bonds. Eligible clients include individuals, HUFs, NRIs, companies and more. The site lists the various securities accepted for loans, eligibility requirements, and contact information.
This document analyzes issues related to using a trust fund as collateral for a surety bond to meet financial assurance requirements for closure and post-closure costs. It discusses four key assumptions of the proposed mechanism: 1) the surety bond would cover the full cost estimate, 2) EPA would become the beneficiary of the trust fund after certain events, 3) the trust fund would initially be funded at the present value of costs rather than the surety's collateral requirements, and 4) the trust fund would earn enough to cover full costs without additional payments. The analysis finds that the proposed mechanism would have higher net costs than alternatives, impose a heavy cash flow burden, and be riskier if cost estimates increase over time.
1) Estate planning involves determining how to distribute one's assets after death through various legal means like a will, gifts during life, or intestacy laws.
2) Developing a sound estate plan involves ascertaining one's assets, determining how to distribute them among beneficiaries, and choosing appropriate legal methods like wills or trusts.
3) Strategies for effective estate planning include protecting asset value, maximizing amounts to heirs, minimizing costs and inconvenience, appointing capable executors, and naming guardians for minor beneficiaries.
The document provides an overview of the Home Affordable Foreclosure Alternatives (HAFA) program, which aims to standardize the short sale process. It outlines key terms, eligibility requirements, and steps in the HAFA short sale process. This includes borrower qualification, determining if a short sale or deed-in-lieu is offered, signing a short sale agreement, listing and marketing the property, submitting a purchase agreement, and satisfying liens. The document notes some challenges in implementation, such as lenders meeting timelines and subordinate lien holders accepting payment amounts.
The document summarizes the Debt Recovery Tribunal Act of 1993 in India. Key points:
- It establishes Debt Recovery Tribunals and Appellate Tribunals to facilitate recovery of debts owed to banks and financial institutions exceeding 10 lakh rupees.
- The Tribunals have jurisdiction over cases where the debtor resides or operates within specified areas. Banks can apply to the Tribunals to recover debts.
- The Tribunals determine the amount owed and issue certificates to Recovery Officers to attach/sell debtor properties, arrest the debtor, or appoint receivers to recover the debt. Debtors can appeal amounts but must deposit 75% of the determined debt.
Such loans are given to stock brokers and market makers Banks also grant loans against units of mutual fund. However in this case the amount of advance should be linked to Net Asset Value or market value whichever is less. One of the guidelines to be followed while granting this loan is that banks should satisfy themselves with the marketability of this loan. And banks should not advance against partly paid shares. Banks may determine the rate of interest without referring to Benchmark Prime Lending Rate. Certain prohibitions apply. For instance, banks cannot sanction loans against equity shares of the banking company to its directors. Banks cannot lend to their employees through employee trusts set up by them. Also, a bank’s total exposure including both fund and non fund categories should not exceed 15% of the total advances as of 31 March in the previous year.
You can anytime Leverage your investments in shares for loans to meet unforeseen expenses. Avail Loan contiguously Shares for meeting contingencies and needs of personal nature. Take a press on to subscribe optional gathering shape of shares by availing a take to the fore adjoining your existing shares and earn profits. By taking this add to you can also met your astonished brusque expenses.
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...Ashraf Esmael
The document discusses the application of Ijarah (Islamic leasing) principles in the Mauritian leasing industry. It provides an overview of Mauritius Leasing and the leasing industry in Mauritius. Ijarah allows assets to be leased rather than purchased, avoiding interest (riba). The document outlines the rationale for Mauritius Leasing to offer Islamic leasing, the salient features of Ijarah, its economic benefits, implementation challenges, and the future potential for structuring Islamic financial products using Ijarah principles.
The document discusses various aspects of life insurance policy servicing, including the rights and duties of the insured party. It covers topics like premium payments, grace periods, non-forfeiture provisions, surrender value, loans, foreclosure, revival of lapsed policies, nomination of beneficiaries, and assignment of policies. Key points mentioned include contractual obligations to keep policies active, options for unpaid premiums, requirements for reviving lapsed policies, rules around nominating and assigning beneficiary rights.
This document discusses the accounting standards and procedures for Ijarah transactions according to the Islamic Financial Accounting Standard 2 (IFAS-2). It defines Ijarah as a lease contract where the owner of an asset transfers the right to use the asset to another party for an agreed rental payment and period. The key differences between Ijarah accounting and conventional finance lease accounting are outlined. The document provides an example Ijarah transaction and the corresponding accounting entries for asset recognition, revenue/expense recognition, depreciation, and other disclosures. Common questions regarding Ijarah classification and provisioning guidelines are also addressed.
Daily Derivatives Report:24 December 2019Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
"SMSF and Trusts' Transactions for Real Property Matters" seminarTom Meagher
This is a copy of my “SMSF and other Trusts” seminar that I presented to the Australian Institute of Conveyancers’ members 3 times this year; being at Perth, Bunbury and mostly recently in Geraldton. Appreciably these slides only cover some of the trusts and compliance issues that we discussed in detail during these seminars and that pertain to Conveyancers/ affect settlement transactions. The key are covered are: Self-Managed Superannuation Funds, Limited Recourse Borrowing, Bare and Custodian trusts, Family Trusts’ real property transfers into SMSFs and vestings, Special Disability Trusts plus a myriad of other practical and commercial issues.
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)Abinash Mandilwar
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
Linkedin web ny inherited retirement assetsCarol Buckmann
The document discusses creditor protection of inherited retirement accounts after the Supreme Court's ruling in Clark v. Rameker. It summarizes that the Court determined inherited retirement accounts are not protected from creditors of beneficiaries. To protect inherited accounts, beneficiaries should be trusts rather than individuals. The document provides details on properly structuring an accumulation trust to qualify it as an account beneficiary and maximize tax benefits while providing creditor protection.
The document provides an overview of Islamic banking in Pakistan, including the history, current strategies and progress, and key financing modes such as Ijara. It discusses past efforts to establish Islamic banking since the 1970s and reasons for their failure. The current strategy involves a gradual multi-pronged approach to transform the economy and establish full-fledged Islamic banks and subsidiaries. Key points covered include the role of the State Bank of Pakistan, industry growth targets, and clarification of common misconceptions about Islamic banking practices.
This offering memorandum describes the private offering of up to $3,000,000 in convertible debentures by TransBiotec, Inc. The debentures mature in 36 months, accrue 12% annual interest, and are convertible to common stock at a 35% discount. Proceeds will be used to fund operations and further develop TransBiotec's alcohol detection device. The minimum investment is $10,000. The offering is speculative and involves significant risks, as TransBiotec has no revenues and requires ongoing funding to support operations and develop its technology.
This very short document contains only numbers with no context provided. It includes the numbers 3, 22, and 3 but without any explanation of what these numbers represent or relate to, it is impossible to determine the essential information or generate a meaningful summary.
The document discusses the need for an independent legal framework to adjudicate Islamic finance disputes, as existing courts inadequately apply Sharia law. It analyzes two cases (Beximco, Blom Bank) to show how English common law disassociates Islamic aspects when governing Islamic finance contracts. The Dubai World Islamic Finance Arbitration Center (DWIFAC) and its jurisprudence office (DWIFACJO) could offer a globally recognized arbitration center for Islamic finance disputes. DWIFACJO may establish a uniform Islamic banking law and standardized dispute resolution contract to create legal certainty for the industry.
Topic iv. ijarah and other non participatroty modes of islamic finance(2)SaudBilal1
The document discusses various Islamic finance contracts, including Ijarah (leasing), Salam (prepaid forward sale), and Istisna (commission to manufacture).
Ijarah allows the transfer of the use of an asset in exchange for rent payments, while ownership remains with the lessor. It can be used as a financing structure. Salam and Istisna allow the sale of goods before they come into existence, which is normally prohibited, with conditions. Salam requires full prepayment while Istisna does not. Istisna also allows the time of delivery to be unspecified. Both Salam and Istisna can be used as financing modes. The document outlines the rules and structures
The document summarizes the lending policies of banks in Australia. It outlines policies regarding maximum loan amounts and loan-to-value ratios that vary based on the size of the loan. It also discusses acceptable borrowers, income requirements, property valuations, debt consolidation, and unacceptable loan purposes. Key considerations for banks include borrower ability to repay, value of property collateral, and risk level of the loan.
The document describes LoanXpress.com, which provides loans against various types of securities pledged as collateral, including stocks, mutual funds, gold, insurance policies, and bonds. Eligible clients include individuals, HUFs, NRIs, companies and more. The site lists the various securities accepted for loans, eligibility requirements, and contact information.
This document analyzes issues related to using a trust fund as collateral for a surety bond to meet financial assurance requirements for closure and post-closure costs. It discusses four key assumptions of the proposed mechanism: 1) the surety bond would cover the full cost estimate, 2) EPA would become the beneficiary of the trust fund after certain events, 3) the trust fund would initially be funded at the present value of costs rather than the surety's collateral requirements, and 4) the trust fund would earn enough to cover full costs without additional payments. The analysis finds that the proposed mechanism would have higher net costs than alternatives, impose a heavy cash flow burden, and be riskier if cost estimates increase over time.
1) Estate planning involves determining how to distribute one's assets after death through various legal means like a will, gifts during life, or intestacy laws.
2) Developing a sound estate plan involves ascertaining one's assets, determining how to distribute them among beneficiaries, and choosing appropriate legal methods like wills or trusts.
3) Strategies for effective estate planning include protecting asset value, maximizing amounts to heirs, minimizing costs and inconvenience, appointing capable executors, and naming guardians for minor beneficiaries.
The document provides an overview of the Home Affordable Foreclosure Alternatives (HAFA) program, which aims to standardize the short sale process. It outlines key terms, eligibility requirements, and steps in the HAFA short sale process. This includes borrower qualification, determining if a short sale or deed-in-lieu is offered, signing a short sale agreement, listing and marketing the property, submitting a purchase agreement, and satisfying liens. The document notes some challenges in implementation, such as lenders meeting timelines and subordinate lien holders accepting payment amounts.
The document summarizes the Debt Recovery Tribunal Act of 1993 in India. Key points:
- It establishes Debt Recovery Tribunals and Appellate Tribunals to facilitate recovery of debts owed to banks and financial institutions exceeding 10 lakh rupees.
- The Tribunals have jurisdiction over cases where the debtor resides or operates within specified areas. Banks can apply to the Tribunals to recover debts.
- The Tribunals determine the amount owed and issue certificates to Recovery Officers to attach/sell debtor properties, arrest the debtor, or appoint receivers to recover the debt. Debtors can appeal amounts but must deposit 75% of the determined debt.
Such loans are given to stock brokers and market makers Banks also grant loans against units of mutual fund. However in this case the amount of advance should be linked to Net Asset Value or market value whichever is less. One of the guidelines to be followed while granting this loan is that banks should satisfy themselves with the marketability of this loan. And banks should not advance against partly paid shares. Banks may determine the rate of interest without referring to Benchmark Prime Lending Rate. Certain prohibitions apply. For instance, banks cannot sanction loans against equity shares of the banking company to its directors. Banks cannot lend to their employees through employee trusts set up by them. Also, a bank’s total exposure including both fund and non fund categories should not exceed 15% of the total advances as of 31 March in the previous year.
You can anytime Leverage your investments in shares for loans to meet unforeseen expenses. Avail Loan contiguously Shares for meeting contingencies and needs of personal nature. Take a press on to subscribe optional gathering shape of shares by availing a take to the fore adjoining your existing shares and earn profits. By taking this add to you can also met your astonished brusque expenses.
Ijarah : Implementing Islamic Financial Principles In The Mauritius Leasing I...Ashraf Esmael
The document discusses the application of Ijarah (Islamic leasing) principles in the Mauritian leasing industry. It provides an overview of Mauritius Leasing and the leasing industry in Mauritius. Ijarah allows assets to be leased rather than purchased, avoiding interest (riba). The document outlines the rationale for Mauritius Leasing to offer Islamic leasing, the salient features of Ijarah, its economic benefits, implementation challenges, and the future potential for structuring Islamic financial products using Ijarah principles.
The document discusses various aspects of life insurance policy servicing, including the rights and duties of the insured party. It covers topics like premium payments, grace periods, non-forfeiture provisions, surrender value, loans, foreclosure, revival of lapsed policies, nomination of beneficiaries, and assignment of policies. Key points mentioned include contractual obligations to keep policies active, options for unpaid premiums, requirements for reviving lapsed policies, rules around nominating and assigning beneficiary rights.
This document discusses the accounting standards and procedures for Ijarah transactions according to the Islamic Financial Accounting Standard 2 (IFAS-2). It defines Ijarah as a lease contract where the owner of an asset transfers the right to use the asset to another party for an agreed rental payment and period. The key differences between Ijarah accounting and conventional finance lease accounting are outlined. The document provides an example Ijarah transaction and the corresponding accounting entries for asset recognition, revenue/expense recognition, depreciation, and other disclosures. Common questions regarding Ijarah classification and provisioning guidelines are also addressed.
Daily Derivatives Report:24 December 2019Axis Direct
Axis Direct presents daily derivatives report presenting recommendations based on technical analysis. For trading in derivatives visit https://simplehai.axisdirect.in/offerings/products/derivatives
"SMSF and Trusts' Transactions for Real Property Matters" seminarTom Meagher
This is a copy of my “SMSF and other Trusts” seminar that I presented to the Australian Institute of Conveyancers’ members 3 times this year; being at Perth, Bunbury and mostly recently in Geraldton. Appreciably these slides only cover some of the trusts and compliance issues that we discussed in detail during these seminars and that pertain to Conveyancers/ affect settlement transactions. The key are covered are: Self-Managed Superannuation Funds, Limited Recourse Borrowing, Bare and Custodian trusts, Family Trusts’ real property transfers into SMSFs and vestings, Special Disability Trusts plus a myriad of other practical and commercial issues.
Debts Recovery Tribunals and Appellate Tribunals(DRT & DART)Abinash Mandilwar
The document discusses the Debt Recovery Tribunal (DRT) process in India for recovering debts owed to banks and financial institutions. It provides details on the structure and jurisdiction of DRTs and Debt Recovery Appellate Tribunals (DRATs). The summary is:
[1] DRTs are special quasi-judicial forums established under the Recovery of Debts due to Banks and Financial Institution Act, 1993 to allow for the speedy recovery of loans owed to banks and financial institutions.
[2] The document outlines the procedures for banks to file recovery applications with the DRT, including prerequisites taken before filing and requirements for the application.
[3] It also describes the DRT procedures after an
Linkedin web ny inherited retirement assetsCarol Buckmann
The document discusses creditor protection of inherited retirement accounts after the Supreme Court's ruling in Clark v. Rameker. It summarizes that the Court determined inherited retirement accounts are not protected from creditors of beneficiaries. To protect inherited accounts, beneficiaries should be trusts rather than individuals. The document provides details on properly structuring an accumulation trust to qualify it as an account beneficiary and maximize tax benefits while providing creditor protection.
The document provides an overview of Islamic banking in Pakistan, including the history, current strategies and progress, and key financing modes such as Ijara. It discusses past efforts to establish Islamic banking since the 1970s and reasons for their failure. The current strategy involves a gradual multi-pronged approach to transform the economy and establish full-fledged Islamic banks and subsidiaries. Key points covered include the role of the State Bank of Pakistan, industry growth targets, and clarification of common misconceptions about Islamic banking practices.
This offering memorandum describes the private offering of up to $3,000,000 in convertible debentures by TransBiotec, Inc. The debentures mature in 36 months, accrue 12% annual interest, and are convertible to common stock at a 35% discount. Proceeds will be used to fund operations and further develop TransBiotec's alcohol detection device. The minimum investment is $10,000. The offering is speculative and involves significant risks, as TransBiotec has no revenues and requires ongoing funding to support operations and develop its technology.
This very short document contains only numbers with no context provided. It includes the numbers 3, 22, and 3 but without any explanation of what these numbers represent or relate to, it is impossible to determine the essential information or generate a meaningful summary.
The document summarizes several cases of rhegmatogenous retinal detachments treated with scleral buckling procedures. It describes the history, clinical findings, surgical procedures, and outcomes for 4 cases. The procedures involved placement of radial or segmental scleral buckles without drainage of subretinal fluid in most cases. The subretinal fluid typically reabsorbed within a few days following the buckling procedures and the retinas remained attached in the follow up periods ranging from months to years.
The document summarizes the experiences of 32 UK small and medium enterprises entering the Brazilian market. It finds that the main problems they encountered were complex regulations and bureaucracy, corruption, language barriers. To address these issues, some firms partnered with Brazilian agents who helped navigate the market, while others avoided risk by doing business through agents in other countries or skirting regulations. The document provides advice on how to succeed in Brazil such as having a competitive product, building relationships, understanding the culture and doing thorough market research. It also discusses how export promotion institutions can better support small firms entering new markets.
This document provides biographical information about several members of Congress including their name, party affiliation, state and district represented, years elected and reelected, previous occupations, prior political experience, date of birth, and religion. It includes leaders from both the House such as Nancy Pelosi, Steny Hoyer, John Boehner, and Eric Cantor, and the Senate such as Harry Reid, Mitch McConnell, and Jon Kyl.
The document discusses the results of a study on the effects of exercise on memory and thinking abilities in older adults. The study found that regular exercise can help reduce the decline in thinking abilities that often occurs with age. Older adults who exercised regularly performed better on cognitive tests and brain scans showed they had greater activity in important areas for memory and learning compared to less active peers.
Este documento contiene una lista de pictogramas de alimentos y bebidas organizados en diferentes categorías, incluyendo primeros platos, segundos platos, huevos, postres, bocadillos y bebidas. En total, se muestran más de 100 pictogramas de alimentos comunes como arroz, carne, fruta y bebidas como agua, café y jugos.
This document contains 4 short poems by Cole about Peeps, paintball, a bike riding accident, and geese at diabetes camp. The Peeps poem describes them as squishy, gooey, and colorful. The paintball poem depicts the sounds of playing paintball. The bike riding poem tells of Cole falling off his bike and his friend accidentally running over him. The geese poem questions where the mean geese from diabetes camp went and if they will return.
This document outlines the agenda and responsibilities for various chief officer roles in a Toastmasters club. It discusses the chief scheduler role and provides solutions to common problems like last minute speaker drop outs or not enough speakers. It also covers educational awards, speech contests, and a mentor-mentee program. Suggestions are made to create new roles, sections, and activities to engage members.
El documento explica las diferencias entre los archivos de curso y la recopilación de contenido en Blackboard Learn. La recopilación de contenido permite almacenar y compartir contenido entre varios cursos y usuarios, mientras que los archivos de curso solo almacenan contenido de un curso individual. Además, describe los pasos para cargar, organizar y compartir archivos y carpetas en la recopilación de contenido.
Presentation: 30 Weeks, A Founders Program For DesignersMichoel Ogince
This presentation was given to the entrepreneurs at 30 Weeks.
30 Weeks is a founders program for designers.
The program is operated by Hyper Island and supported by Google in partnership with the leaders in design, tech, business and venture capital.
La Unión Europea ha acordado un paquete de sanciones contra Rusia por su invasión de Ucrania. Las sanciones incluyen restricciones a las importaciones de productos rusos de alta tecnología y a las exportaciones de bienes de lujo a Rusia. Además, se congelarán los activos de varios oligarcas rusos y se prohibirá el acceso de los bancos rusos a los mercados financieros de la UE.
The document discusses secondary markets for structured cash flows, such as pensions, which allow individuals to sell future income streams for a lump sum payment. It provides details on Future Income Payments, LLC, a company that facilitates these transactions, including their process for underwriting sellers, mitigating risks through reserve accounts, and replacing cash flows if needed. Examples of purchase prices, terms, and monthly payments are given to illustrate potential returns from structured cash flows compared to other fixed income options like annuities.
Feb 2012 Fiduciary Considerations For Insured Retirement Income[1]fredreish
This document discusses fiduciary considerations for retirement plans offering guaranteed minimum withdrawal benefits (GMWBs). It provides an overview of typical GMWB features, including how they guarantee minimum withdrawals for life from retirement accounts. It also outlines the fiduciary process for evaluating and selecting GMWBs, focusing on three key areas: assessing product features, evaluating portability, and ensuring the financial viability of the insurance company providing the benefits. Fiduciaries must engage in a prudent process to determine whether offering a GMWB is appropriate for their plan and to select the best product and carrier based on factors like costs, benefits, and the long-term ability of the insurer to pay guaranteed amounts.
A product to enable life-insurer guaranteed investment contracts for separate accounts to function like money market instruments for sale to longer-term investors; increase spreads by 200-400% for insurers.
This document outlines plans for new business and loan products at an NBFC. It discusses target markets like small businesses, government employees, and used car buyers. It describes various loan types like secured loans, gold loans, and car loans. Criteria for sanctioning loans and dealing with defaults are provided. Interest rates, product knowledge, and expected outputs for the next six months are also summarized. The overall purpose is to strategize growth through new lending opportunities and customers.
This document outlines an NBFC's new business plans, target markets, loan products, and loan approval process. It discusses several loan products like secured loans, unsecured loans, transport loans, gold loans, loans against property, and consumer durable loans. It identifies target markets like small businesses, government employees, and retail traders. It also describes the loan approval process, criteria for sanctioning loans, recovery procedures, interest rates, and expected business outputs over the next six months. The document provides details on the NBFC's various loan products and services to potential customers.
This document discusses the loan products and target markets of an NBFC. It provides details on:
- Types of loans offered including secured, unsecured, transport, gold, and loans against assets.
- Target markets including shop owners, government employees, micro enterprises, and used car buyers.
- Criteria for sanctioning loans including application process, maximum limits, and approving authorities.
- Recovery process for defaulting loans including legal actions and use of guarantors.
Lending Compliance Hot Topics with ICS Compliance_January 2010ICS Compliance
Although there is much legislation in motion on Capitol Hill, financial institutions are already adapting to interim and/or final rules. This webinar will cover hot compliance issues affecting consumer lending, and will include flood insurance requirements, disclosures affecting mortgage loans, private student loans, and credit cards.
Sometimes it’s difficult to decide which type of buy sell agreement to recommend when dealing with QPSC, S Corp, and LLCs. Should it be a stock redemption plan funded with employer owned insurance or a cross purchase plan funded by cross owned insurance?
Get expert insight from Russell E. Towers JD, CLU, ChFC
Vice President, Business & Estate Planning at Brokers' Service Marketing Group ( A brokerage general agency for financial professionals).
The document discusses a project funding program that offers non-recourse loans to qualified projects. It provides loans secured by bank guarantees, with minimum collateral of $10M and minimum funding of $4M. The loans appear to be recourse initially but become non-recourse after the client pays fees for the bank collateral, including a 35% purchase price and 5% arrangement fee. The client submits project details for review and if approved, follows steps to secure the collateral and receive loan funding in their account.
LifeHealthPro - Heres why cash value life insurance is a superior productJose Ariel Taveras
The document discusses the advantages of cash value life insurance over term life insurance and other financial assets. It outlines three main categories of advantages for cash value life insurance: 1) Tax advantages, such as tax-free growth of cash value and tax-free death benefits; 2) Financial advantages, as life insurance is designed using actuarial models to provide guarantees and potential increases in death benefits; and 3) Legal advantages, like state legal protections and guarantees of insurers. The document promotes cash value life insurance as a superior financial product compared to alternatives due to these inherent advantages.
This document describes the terms of soft loans offered by FundingKart at an interest rate of 3% per year. The loans can be for individuals or corporations and range from $50 million to over $500 million. The loan duration is 5-10 years and may include a grace period. Collateral options include 20% equity share, a surety bond, or corporate guarantee. The application process involves submitting business plans, approvals, identity documents, and board resolutions, along with a 10% success fee.
Wealthsurance growth insurance plan sp policy document_0Tej vardhan
This document defines terms related to the IDBI Federal Wealthsurance Growth Insurance Plan SP. It defines terms like allocation of units, child policy, date of discontinuance, discontinuance, discontinuance policy fund, free-look period, fund value, insured person, lock-in period, maturity date, operation of the investment account, policy document, policy, policy owner, policy month/year, premium paying frequency, premium payment term, proceeds of the discontinued policy, redeeming units, schedule, sum assured, sum at risk, the company, and you. It also summarizes the policy benefits including maturity benefit, partial withdrawals, death benefit, premiums, and available investment funds.
Citing Private Equity Concerns, New York Department of Financial Services Pro...NationalUnderwriter
Citing Private Equity Concerns, New York Department of Financial Services Proposes Increased Scrutiny and Disclosure for Acquisitions of New York Domestic and Commercially Domiciled Insurers by Eric R. Dinallo, Thomas M. Kelly, Marilyn A. Lion, and Nicholas F. Potter.
On May 14, 2014, the New York State Department of Financial Services (“NYDFS”) proposed an amendment to the regulation that sets forth the filing and other regulatory requirements for the acquisition and retention of control of New York domestic and commercially domiciled insurers that includes specific requirements directed at acquisitions by private equity firms and other similar investors.
In the regulatory impact statement that accompanies the proposed changes, the NYDFS stated that the changes
reflect the NYDFS’ concern that private equity firms and other similar investors have a “focus on maximizing their
short-term financial returns rather than ensuring that long-term policyholders receive the insurance benefits for which
they have paid.”
The NYDFS went further to state its concern that the short-term focus may lead to “an incentive to increase investment risk and leverage in order to boost short-term returns.”
COLI/BOLI, IOLI/STOLI – The good, the bad, and the uglyTony Roehl
This document discusses corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI), as well as stranger-originated life insurance (STOLI). COLI/BOLI policies are owned by corporations/banks to insure key employees. Recent legal issues challenged the tax benefits and whether an insurable interest existed. STOLI involves purchasing life insurance with no intent to retain it, violating insurable interest laws. STOLI harms insurers through misrepresentations and adverse lapse rates. Legislation aims to prevent STOLI through prohibiting arrangements where a third party will receive the policy.
The Ontario Insurance Commission recommends practices for life insurance companies regarding accelerated death benefits or living benefits. Key recommendations include:
- Making living benefits available for most permanent life insurance policies, with exceptions for term policies and policies where the insured is not the owner.
- Basing eligibility for benefits on the insured's life expectancy being less than two years due to their medical condition, rather than financial need.
- Providing at least 50% of the policy's face value as living benefits, less any outstanding loans or assignments.
- Expeditiously handling applications, not requiring beneficiary consent in most cases, and designating a contact person to answer questions confidentially.
The document describes a collateral loan program that provides loans of $10 million or more, backed by collateral from a third party rather than the client. Key aspects include:
- Loans can be used for any project type worldwide and are paid back over 10 years with no prepayment penalty. Interest rates are variable between 0-3% plus Libor (around 6.5% on average).
- The program offers a 1-3 year deferral period where the borrower does not have to pay interest or make minimum payments, even if the project could repay the loan earlier.
- It involves multiple participants including the client, collateral provider, depositor who provides the collateral, purchaser who buys the interest in the
The document discusses claim management and reinsurance in the insurance industry. It covers topics such as the claim settlement process, types of claims including maturity, death and survival benefits, documents required for different claim types, procedures for settling claims, the role of third party administrators, and qualifications for CEOs and CAOs of third party administrators. It emphasizes the importance of prompt claim settlement and outlines the various stages in assessing, processing and paying out on insurance claims.
1. SENIOR LIFE
SETTLEMENT POLICY
ACQUISITION PLATFORM
with
REINSURANCE GUARANTEE
OPTION PROTOCOL
1
2. Senior Life Settlement Policy Acquisition
Platform
OVERVIEW: Listed below is a concise format of the policy, procedures and proto-
cols for the acquisition of Senior Life Settlement Policies with a Reinsurance Guar-
antee Option providing an 80% minimum Face Value payout by the end of the 10th
year..
The information presented in this document is for information purposes only and
does not constitute a legal agreement. This information is not an offer, invitation or
a solicitation to invest, to buy or sell. Any party interested in the materials mentioned
or described in the information provided, must consult their own local and national
advisors and regulatory authorities to ensure that each specific item is in compliance
with all relevant rules and laws. This message is privileged, confidential and intended
only to be read by the named recipient.
CONFIDENTIALITY : The information contained in this document
incorporates business concepts and material that is proprietary to Coral Financial
LLC, and is highly confidential. Its use is restricted to those persons who have been
provided a copy by an officer or agent of the aforementioned company and the
duplication or dissemination of its contents is prohibited without the express
consent of an authorized officer or agent of Coral Financial LLC.
DISCLAIMER: Coral Financial, LLC is an investment advisory services firm, and
does not provide legal, accounting or tax advice, or opinions. We strongly advise that
Clients retain their own legal, accounting and tax advisors in connection with any
contemplated transaction.
The material contained herein is provided for informational purposes only, and does
not constitute an offer or solicitation to buy or sell any securities discussed herein in
any jurisdiction where such would be prohibited.
2
3. Senior Life Settlement Policy Acquisition
Platform
● Potential Buyer (“Buyer”) will make arrangements for their contracted
client to provide capacity i.e. Proof of Funds (POF) to Coral Financial LLC’s
(“Company”) attorney who shall be acting as Escrow and Closing Agent for
the contemplated transaction. This POF must be to the complete satisfaction
of Company attorney and must be represented as a percentile of the gross
face value of the transaction. i.e. Avg. Policy amount per Life = $7.5 Million,
(X) a min of 300 Lives = Total FV $2.250 Billion @ a POF = $360 Million.
This is an Illustrative Example Only. All Bids are based upon a percentile of
Gross Face Value. The Company will not calculate IRR. Any calculation of
IRR or ROE is the absolute Buyer’s responsibility and therefore reflects
Buyer’s own unique business models.
● Buyer will supply to the Company its specific Buyer Box after both parties
have executed a mutual and equitable NDA Agreement Criteria and;
●The Company will submit to Buyer , portfolios as requested upon receipt
and Company attorney’s verfication of capacity via POF and;
●The Buyer of SLSP portfolio will perform their initial pre-valuation of se-
lected portfolios meeting their pre-submitted Buyer Box Criteria. The Client
shall be provided no more than (5) days from submission to accept or de-
cline.
Upon receipt of an executed acceptance of the Letter of Intent (LOI) en-
compassing polices and pricing ,the Company will:
●submit accepted portfolio to Reinsurer ( if requested by Buyer) who will be
performing their pre-valuation of that same portfolio. Upon completion of its
analysis the Reinsurer will issue the Initial Term Sheet with a specific attach-
ment point (80% of expected cumulative mortality over the Term of Reinsurance) and rein-
surance premium . Estimated time for submission of Term Sheet 5-7 busi-
ness days. Upon receipt of the Term Sheet by the Client, if agreed, both par-
ties will execute.
3
4. Senior Life Settlement Policy Acquisition
Platform
●The Reinsurance requirements for portfolios will be a minimum of 300
lives with two options available:
• Limit the reinsurance coverage to $10 or $12 million per life or
• Exclusion of lives above $10 - $12 Million of face.
● See Life Settlement Financial Guarantee Reinsurance Term Sheet (Page 6-7)
• See Insurance Company Ratings (Page 8)
● See Typical Purchasing Parameters (Buer Box) (Page 9)
• See Overview and Bio of Actuarial Firm (Page 10-12) These services will be
made available upon request and are highly recommended.
Upon acceptance of Reinsurance Term Sheet and Accepted LOI from Client ,
the following events will transpire simultaneously.
● The Company will coordinate a meeting to confirm the final steps and at which
time Reinsurer will receive its retainer of $50,000. payable by the Client.
●Reinsurance Company will then complete its final detailed mortality analysis based
on complete LE company reports, and will issue a final term sheet which, if un-
changed from the initial one will consummate the reinsurance with a signed treaty. to
be evidenced in Mutual Agreements by and between all concerned parties.
●In the event Client does not move forward with the unchanged term sheet, it forfeits
the $50,000. If the final terms change and Client does not accept them, it will be re-
funded the $50,000. This shall also be evidenced in Agreements
● Transfer of Policy Copies into closing attorney’s escrow and associated
medical and actuarial reports as requested; i.e.
1. Current HIPAA
2. Maturity illustration within the last ninety (90) days. Current illustra-
tions would be required as part of the closing process.
3. 2 electronic copies of LEs – AVS & 21st Services. LEs should be no
more than six (6) months old. Maturity illustrations should be within the
last ninety (90) days.
4. Copy of policy
● Client transfers required funds into a mutually agreeable escrow with ap-
propriate escrow instructions to closing attorney.
4
5. Senior Life Settlement Policy Acquisition
Platform
●Policy Copies released to both Client & Reinsurer
Note: The estimated time for Reinsurer Underwriter to perform final analysis is
aprox. 2-3 calandar weeks.
●Clients legal interacts with Company legal to create the definitive final purchase
and acqusiition contracts. Estimated time 7 Business days.
●Reinsurance transactions to be by and between
Insurance Trusts and Reinsurer.
( Special Purpose Vehicles/Trusts (“SPV”) and;
a). The policies will be primarily beneficial interests in trusts holding life in-
surance policies that have been previously transferred from individual benefi-
ciary to the trust.
b). The policy must allow for the absolute assignment of ownership of the
policy and its stated beneficiary to be the acquiring Company or if the policy
is owned by a trust, then the trust must permit the beneficiaries to assign their
rights to the acquiring Company.
●The Treaty Draft will be submitted from Reinsurer to Client for Final legal con-
sideration. Upon Acceptance and Execution, Client will move escrowed closing
funds to Company Attorney Escrow with appropriate instructions for release.
● Final documents executed, Policies transferred, Funds Released and
Reinsurance Gaurantee is issued at time of the successful closing.
5
6. Senior Life Settlement Policy Acquisition
Platform
Life Settlement Financial Guarantee Reinsurance Term Sheet
Reinsurer: 3 Identified
Reinsured: XYZ Life Insurance Trust
Covered Policies: Block of life insurance policies meeting the Policy Coverage Criteria as de-
termined by independent review of the Reinsurer
Effective Date of Reinsurance: The date on which the Reinsured completes the portfolio but
no later than XXXX, XX 20__
Term of Reinsurance: 10 years from the Effective Date of Reinsurance
Reinsurance Premium: TBD – max estimate 3 – 4% of portfolio face amount. Maybe as low
as 2%
Expected Mortality: 2008 VBT table times the average mortality multiple determined by low-
est 2 of 3 estimates from acceptable LE companies
Attachment Point: 80% of expected cumulative mortality over the Term of Reinsurance
Benefit Payment: Greater of 0 and Attachment Point less Cumulative Death Benefits incurred
on Covered Policies during the Term of Reinsurance. Cumulative Death Benefits based on
death of the insured under Covered Policies, regardless of the payment of death benefits by the
underlying insurer.
Policy Coverage Criteria:
• Maximum policy face amount of 150% of the average policy face amount in the rein-
sured portfolio; no single life shall have total policy face amounts greater than 150% of the av-
erage exposure to all lives in the portfolio; blocks of policies of at least 300 separate lives must
be declared
• Insured life shall have undergone a full medical review in connection with obtaining the
life insurance policy and provide complete medical records, life insurance policy, HIPPA, and
life insurance application parts 1 & 2, and Life Expectancy estimates from at least two Life Ex-
pectancy providers
Deposit & Fees for Service $50,000 (the “Fee”), due and payable by the Reinsured sequen-
tially as follows:
6
7. Senior Life Settlement Policy Acquisition
Platform
• $50,000 within three (3) business days following the signing of this Term Sheet by both par-
ties.
The Fee will be credited against premium due upon the execution of the reinsurance treaty
based substantially on the terms contained herein so long as such execution occurs by Month,
DD, YYYY.
If the Reinsured elects not to proceed with the reinsurance treaty by Month, DD, YYYY, then
the Fee shall be deemed equivalent to expenses incurred by the Reinsurer and this Term Sheet
shall expire.
If the Reinsurer rescinds this Term Sheet prior to Month, DD, YYYY, then it shall return the
portion of the Fee not used for directly related third party legal expenses.
Subject to:
• Agreement and acceptance of portfolio submitted by Reinsured
• Acceptable final reinsurance treaty wording
• Final transaction underwriting approval by Reinsurer
General Conditions:
• Governing Law - As Determined
• Arbitration & Consent to Exclusive Jurisdiction
• No amendment to, or assignment, of the reinsurance treaty without each party’s written
consent
• No third party beneficiaries
• Currency: USD
• Reports – sufficient periodic report on covered policies
7
8. Senior Life Settlement Policy Acquisition
Platform
The Insurance Company is a financial services holding company with interests in the life insurance,
health insurance, retirement savings, investment management and reinsurance businesses.
The Insurance Company has operations in Canada, the United States, Europe, and Asia.with approxi-
mately $459 billion in assets under administration.
The Insurance Company and its insurance subsidiaries have received strong ratings from
major rating agencies.
Rating Agency Measurement Rating
Holding CO Subsidiary 1 Subsidiary 2 Subsidiary 3
A.M. Best Com- Financial A+ A+ A+ A+
pany Strength
DBRS Limited Claims Pay- IC-1 IC-1 IC-1 NR
ing Ability
Senior Debt
Subordinated
Debt
AA
Fitch Ratings Financial AA+ AA+ AA+ AA+
Strength
Moody’s Inves- Financial Aa3 Aa3 Aa3 Aa3
tors Service Strength
Standard & Financial AA AA AA AA
Poor’s Ratings Strength
Services
Senior Debt A+
Subordinated
Debt
AA-
8
9. SLSP Acquisition Platform
Typical Purchasing Parameters aka (Buyer Box)
◙ 100% Non Contestable Traditional Paper
◙ Minimum Rating of Insurance Companies — AM Best (A)
◙ $10 M Maximum, $5M Average Face amount per policy, Minimum face amount of policies $500,000 and
maximum $10,000,000
◙ Only policies on U.S. residents issued by U.S. insurance companies, No Brooklyn, NY (other states or locales
may be excluded in client’s specific “Buy Box”)
◙ No single insurance company represents more than 25% of the pool
◙ No restriction on assignment of policy to another party No policies with Decreasing death benefits
◙ No fractional shares of policies
◙ No restrictions on the payment of the full, current net death benefit, except for
Nonpayment of premiums
◙ No restrictions on payment of insurance benefits in one lump sum
◙ No encumbrances by any party or no outstanding debt on the policy or no disputed policies.
◙ No term policies unless convertible
◙ No premium financed policies by third parties
◙ No single insured life represents more than 2% of the pool
◙Minimum Cost of Insurance (COI) for policy
◙Premium to face per policy 6% or less, less 5% Premium to Face Average in entire portfolio
◙ Age of Insured 72 Male minimum, 74 Female minimum
◙ Life Expectancy’s (“LE”s), 144 months or less this is the first variable which clients change due to the end
use of policy acquisition.
◙ Each policy must have these documents available and up to date and current premium payment statements.
Original Insurance Policy and or Illustration (Illustration date)
◙ Verification of Coverage (VOC) confirmation from the insurance company that policy is in force and not
within the contestability period.
◙Current Premium payment statements preferable within 6 months of purchase
◙ Current Life Expectancies to be computed by acceptable firm no earlier than 18 months
but preferable within 6 months of purchase
◙ Trust Agreements and or Assignments, Resignation, Acceptance of Trustee
9
10. Senior Life Settlement Policy Acquisition
Platform
Actuarial Firm Risk Management Company (AFRMC)
Our Company via a contracted alliance with a high profile Actuarial Firm Risk Man-
agement Company (AFRMC) can provide hands on and risk management experts
provide clients with a flexible hands-on partnership, which covers all risk sectors in-
cluding: Insurance (P&C, Life, Annuity and Health), Managed Care, Employee Bene-
fits, Retirement and Banking. Increased accessibility to top industry experts across all
disciplines is the cornerstone of our successful business model.
This growing network ensures that AFRMC can deliver support to local, regional
and national clients. To date the network consists of more than a dozen core mem-
ber firms with over 45 highly skilled consulting actuaries and numerous risk experts
averaging over 20 years experience in all disciplines. AFRMC seamlessly oversees the
delivery of all risk management and actuarial services by coordinating the appropri-
ate resources for each project based on complexity and client needs which bring in
colleagues with specialized expertise from outside the network if it is advantageous
to our clients.
AFRMC successful business model and hands-on approach continues to earn the
trust and respect of a growing number of public and private organizations. AFRMC
is an independent member of the BDO Seidman Alliance and since 2006 has been
the sole provider of actuarial services within BDO Seidman, which is the U.S. mem-
ber of BDO - the fifth largest global accounting and consulting firm. The arrange-
ment with BDO has AFRMC supporting BDO, other BDO Alliance members and
their respective clients. Our relationship with BDO also gives our clients access to
BDO’s accounting and tax expertise, worldwide.
10
11. Senior Life Settlement Policy Acquisition
Platform
Actuarial Firm Risk Management Company (AFRMC)
Our services range from general commentary on life settlement market issues to
complex analysis and modeling of specific portfolios of life settlement policies.
Our life consultants provide expert support on:
◙ Analysis of life expectancy (LE) providers
◙ Comparison and analysis of LE results from multiple providers
◙Pricing of single cases using LE results
◙ Valuation of blocks of policies using LE results
◙ Pricing and valuation using both deterministic (LE) basis and probabilistic basis
◙ Evaluation of blocks of policies on a stochastic basis
◙ Use of tools and metrics to segment blocks of policies to suit the needs of in‐
terested parties
◙ Close relationship with LE provider allowing unique ability to understand the
impact of mortality tables on the block valuation process
◙ Ability to use actuarial knowledge of life insurance products to provide supe‐
rior results and avoid mistakes that could harm an investor
Senior Life Settlement – Collateral Manager
(AFRMC) has one of the deepest teams in the senior life settlement (SLS) mar‐
ketplace, not only in terms of expertise but also as an industry leader who rou‐
tinely helps stakeholders navigate the nuances of the life settlement market‐
place.
As such, (AFRMC) is well positioned to serve as a SLS Collateral Manager, which
consists of (AFRMC) handling the following duties:
◘ Managing the selection, pricing, negotiation and acquisition (through ap‐
proved providers) of the senior life settlements (SLS);
11
12. Senior Life Settlement Policy Acquisition
Platform
Actuarial Firm Risk Management Company
Senior Life Settlement – Collateral Manager (continued)
Optimizing the features of the insurance policies backing the life settlements, in‐
cluding analysis of rider coverage's and anticipated premium determination, and
delivery of processes and requirements to the SLS administrator (servicer);
◘ Determining and embedding processes to determine and manage the appro‐
priate amount of the premium reserve;
◘ If a securitization, determining whether to engage a “stop‐loss” insurer or ob‐
tain a liquidity facility for the transaction;
◘ Overseeing the development and execution of an appropriate investment pol‐
icy for the trust cash balances (i.e. to ensure the investment of cash balances im‐
proved, high‐quality, short‐term instruments);
◘ Developing a liquidation plan for the life settlements;
◘ Determining the liquidation value of the life settlements;
◘ Updating mortality tables used in the transaction based on new information or
new medical advances;
◘ Determining which SLS policies should lapse or be sold in the event of a contin‐
ued liquidity crisis;
◘ Performing other duties in the interest of the transaction’s security holders;
◘ Performing quarterly valuations (mark‐to‐market) of the underlying SLS portfo‐
lio; and
◘ Other services and duties are available too.
12