The life settlement industry enjoyed its third consecutive year of growth in the number of transactions completed in the secondary market, according to new data from trade publication The Life Settlement Report, part of The Deal.
The data collected by The Life Settlements Report comes mainly from state insurance departments through public records requests. For the calendar year 2023, the total face value of all transactions was $4.72bn, which is the highest recorded level since 2009. Furthermore, 3,181 deals were completed in the industry, the third consecutive year of growth and the second highest in the past five years (3,241 deals were completed in 2020).
“This year’s data coming out of the Life Settlements Report should provide encouragement for institutional, end investors in our market,” said Chris Wells, Executive Director at industry group the European Life Settlement Association.
“Despite the higher interest rate environment, life settlement asset managers are still sourcing opportunities to deploy capital and they are growing the size of their portfolios through an overall higher face value. The life settlement market continues to deliver for investors,” Wells added.
