NEW YORK--(BUSINESS WIRE)--
Risk Capital Partners (RCP) today announced that it has structured
longevity extension coverage in cooperation with a leading European P&C
and Life carrier rated A- by S&P. The product addresses investor
requirements to lock in a sum certain at a future maturity date.
Although similar protection had been offered in the past by a credible
Lloyd’s syndicate, in recent years few reputable carriers have been
willing to offer a suitable product. Instead, most investors have found
that longevity extension products have been limited to highly suspect
entities attempting to exploit irrational investor demand.
Risk Capital Partners, a risk specialist in the life and property
casualty arena, has spent the past six years evaluating and debunking
purported longevity extension products while attempting to develop
longevity coverage with credible insurers. RCP’s multi-disciplinary set
of skills and expertise includes: tax and accounting related to
insurance products; actuarial and underwriting for both life and
property casualty non-traditional products; investment banking related
to insurance securitizations and a keen ability to develop new risk
transfer products that meet a pressing market condition on behalf of
leading insurance providers.
The terms of the RCP LE product will offer flexibility to meet investor
return requirements. However, the basic construct may be summarized as
follows: the insured has the option at life expectancy + 1 or 2 years to
transfer ownership of (or assign proceeds from) a life settlement policy
to the insurer for a claim equal to some percentage of the face value of
the life insurance policy. Furthermore, a Commitment of Coverage can be
procured prior to the actual binding of coverage, allowing investors to
acquire policies after receiving assurance that LE coverage is available.
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About Risk Capital Partners
Risk Capital Partners (RCP) is a boutique insurance consultancy and
brokerage that specializes in modeling actuarial data, developing
complex underwriting pitch books and brokering insurance policies for
clients who seek to mitigate unconventional risks. We are unique due to:
Our exclusive focus on the mitigation and placement of complex risks;
Our proven track record developing unique risk transfer products that
enable complex transactions; Our extensive network of senior level
contacts among property & casualty carriers, life carriers, re-insurers
and financial markets; Our continuous efforts to research and develop
new risk transfer vehicles to unlock hidden financial value; Our
unparalleled risk finance knowledge, skills and credibility with
insurers; And our integrity and commitment as a boutique firm to serve
our clients to the best of our abilities.
Risk Capital Partners
Nemo Perera, Managing Partner, 610-265-7478
nemo.perera@rcps.com
www.rcps.com
Source: Risk Capital Partners
