Life settlement advisor and asset manager Apex Capital Partners has advised on the sale of a large block of life insurance policies by an institutional seller to a third-party investor.
The portfolio comprised approximately 70 life insurance policies with an aggregate face value of more than $500m. Apex was engaged by the client, which was in the process of rebalancing its investment portfolio, in January this year; Apex brought the block to market shortly thereafter and the divestment was completed in April.
Apex says that the transaction underscores the opportunities available to investors in the life settlement industry’s tertiary market, where blocks of policies are transacted bilaterally, and comes at a time when institutional investors are increasingly looking at asset classes which can provide returns with lower correlation to traditional markets, such as bonds and equities, due to the prevailing geopolitical and economic environment.
“The portfolio required significant updating in terms of both the medical records, and the life expectancy reports and the fact we were able to do this and complete the sale in less than four months speaks to our capabilities and expertise,” said Aaron Schwartz, CEO at Apex Capital Partners.
