Download Longevity & Mortality Investor Volume 1, Issue 2, November 2025
This month marks the 25th anniversary of the adoption of the National Council of Insurance Legislators’ (NCOIL) Life Settlements Model Act, one of the two model acts that determines the regulatory landscape of the life settlement industry’s secondary market. Greg Winterton spoke to Alan Buerger, Co-Founder and Executive Chairman of Coventry and Bryan Nicholson, Executive Director at LISA to get their thoughts on previous and recent changes to the NCOIL Act in Regulatory Progress Has Boosted Life Settlements, Yet Education Remains Key to Growth.
A year after the UK Pensions Regulator’s code of practice on funding for defined benefit (DB) pension schemes was launched, the UK’s pension risk transfer (PRT) market remains buoyant, suggesting the guidance has had little material effect on deals. Mark McCord spoke to Ian Wright, Partner at ARC Pensions Law and Richard Solden, Partner and Head of the DB Funding Group at Lane Clark and Peacock to get their thoughts on whether that might change or not in One Year On, UK Pension Risk Transfer Market Largely Unaffected by DB Code of Practice.
The subject of whether life insurance-linked securities (life ILS) structures should be rated or not is a conversation almost as old as the market itself. To date, the cons have largely outweighed the pros but times, they may be changing, particularly if asset managers structuring these transactions want to raise money in the UK. Greg Winterton spoke to George Belcher, Partner at Mayer Brown, and Tom Spreutels, Partner at Leadenhall Capital Partners, to get their thoughts on whether to rate or not to rate in Is It Time to Rate Life ILS Structures?
Traditionally, PRT transactions in the US are of the buy-out variety, a trend driven by the economics of no longer having to administer participants after the deal closes and the expenses associated with it. However, there is evidence to suggest that the buy-in variety is growing in popularity. Mark McCord spoke to Alex Gagnon, Head of Distribution at Legal & General Retirement America and Jake Pringle, Principal and Consulting Actuary at Milliman, to get their thoughts on the topic in Are Bulk Purchase Annuity Buy-Ins Set to Feature More Often in the US Pension Risk Transfer Market?
Litigation risk in the life settlement market takes multiple forms, from cost of insurance increases to estate challenges, from credit risk to stranger-owned life insurance cases. Liam Bodemeaid, Actuarial Consultant at Actuarial Risk Management, introduces a new framework to price litigation risk with a little bit more logic, data, and structure in An Improved Actuarial Framework for Pricing Life Settlement Litigation Risk, a guest article.
Within the life settlement industry, the medical record review has long remained one of the most resource-intensive and time-consuming stages of the process. Even as other aspects of the industry have adopted data-driven solutions, this particular function continues to depend heavily on manual review. Dan Sobolewski, CEO at ProtectFlow, provides his thoughts on how recent advancements in automation and artificial intelligence are beginning to change this dynamic in How Technology Is Transforming Medical Record Reviews in Life Settlements, our second guest article.
The longevity economy is multi-faceted, with a range of investment opportunities available that can impact longevity in different ways. Greg Winterton spoke to Sergey Jakimov, Founding Partner of venture capital firm LongeVC, to get his views on both the space overall, and how LongeVC sees it, and therefore approaches it, in our latest Q&A.
The US life insurance industry has been on something of a growth spurt in recent years, with 2024 delivering a significant 14.46% increase in direct premiums and concentrations compared to prior year, according to S&P Global Market Intelligence’s 2025 US Life and Annuity Market Report. A convergence of themes has contributed to the trend, and Greg Winterton spoke to Tim Zawacki, Principal Research Analyst at S&P Global Market Intelligence to get his thoughts on the state of the market and the outlook going forward in Tailwinds and Structural Strength Support Sustainable — If Moderating — US Life & Annuity Market Growth.
I hope you enjoy the latest issue of Longevity and Mortality Investor.
Chris Wells
Managing Editor
Longevity and Mortality Investor
