LHL Strategies (Lighthouse Life) has announced the acquisition of ClearLife Limited, a software solutions and consultancy provider in the life insurance and longevity sectors, and its US subsidiary.
“Lighthouse Life’s acquisition of ClearLife fuels its growth as a technology leader and market-maker for longevity-risk asset investors,” said Michael Freedman, CEO of Lighthouse Life.
“We are committed to building ClearLife’s capabilities and extending them in new directions. Lighthouse Life’s clients will also see substantial benefits from integration between the Lighthouse Life and ClearLife platforms.”
ClearLife, founded in 2007 by Mark Venn, who was joined by Chris Stuart in 2008, provides a platform for longevity-risk market participants to value, trade and service life insurance products. ClearLife also provides bespoke software and consultancy services for asset managers and other financial services companies in the life insurance and longevity risk markets.
ClearLife will be adding to its suite of software and consulting services for longevity-risk market participants, including reverse mortgages and structured settlements. Lighthouse Life and ClearLife will collaborate to provide products and services for consumers of life insurance products as well as for insurance and financial advisors.
“We are thrilled to join forces with Lighthouse Life,” said Venn.
“Lighthouse will help us to serve new markets for longevity-linked investors, life policy consumers, and insurance professionals. We also anticipate building substantial enhancements to our core platform that will benefit all our current clients. This is a win-win, for ClearLife, for Lighthouse Life, and most importantly, for our clients, who will benefit from our partnership to help them grow their own businesses.”
Venn and Stuart will remain as officers and directors of ClearLife. All employees of ClearLife are being retained; Terms of the transaction were not disclosed.
