Gracie Point Names Dean J. De Marco as Partner and Head of U.S. Business Development
Gracie Point Holdings, LLC (“Gracie Point” or the “Company”), a leading provider of life insurance premium finance, announced today the appointment of Dean J. De Marco as Partner and Head of U.S. Business Development.
NEW YORK (PRWEB) March 20, 2019 -- Gracie Point Holdings, LLC (“Gracie Point” or the “Company”), a leading provider of life insurance premium finance, announced today the appointment of Dean J. De Marco as Partner and Head of U.S.Business Development.
Mr. De Marco will focus on building a U.S. salesforce to more broadly distribute Gracie Point’s premium financing solutions to life insurance agents and wholesalers nationwide. He will also work with carriers and exclusive distribution partners to roll out a suite of new products aimed at making premium finance more effective and suitable for individuals and corporations who have needs for life insurance coverage and are seeking cost-effective, responsible, and sometimes tailored external financing solutions to make premium payments. Mr. De Marco will also be helping to expand the Company’s service capabilities in providing agents and wholesalers advisory support through the product selection and loan closing processes.
The expansion of Gracie Point’s origination efforts brings together years of effort by the Company to develop a financing platform that can offer the most flexible financing solutions to all types of policyholders against cash value in new or existing life insurance policies. Gracie Point has developed a global platform with primary activity in Asia and is now focusing on expanding its reach into the U.S. market with the hiring of Mr. De Marco a key part of that strategy. Gracie’s U.S. origination strategy to date has been concentrated with a limited number of originating partners.
Previously, Mr. De Marco served as Chief Operating Officer at Succession Capital, where he was instrumental in the execution of the firm’s strategy both on the origination side and on managing key carrier relationships. Succession Capital, founded by Julian Movsesian, has been an industry leader for decades and helped to create the market for premium finance. Mr. De Marco is a renowned thought leader in the industry and has spoken nationally on various topics including responsible premium financing solutions, optimizing policy performance, selecting the right product, and various other insurance and premium finance -related matters.
“With over 25 years of sales and management experience in the insurance and premium finance industries, Dean has a proven track record of driving business development, innovating new solutions for large and sophisticated clients, and exceeding revenue targets,” said Harish Raghavan, Chairman and Founder of Gracie Point. Don Boucher, Managing Partner of Gracie Point added that “Dean’s business acumen, combined with his indispensable role in shaping the way customers leverage Gracie Point’s offerings, are a great predictor of the potential growth he can help deliver while leading the U.S. origination initiative.”
Mr. De Marco remarked, “I am thrilled to be joining Gracie Point at this critical juncture in their growth story, and to be able to build upon all the success the Company has achieved to date. Its expansion in the U.S. is coming at the right time for them given the opportunities available in the current market.”
About Gracie Point
Gracie Point is a specialty finance company headquartered in New York, NY. Gracie has built a global platform that leverages the capital markets to offer the most efficient, flexible, and accessible financing solutions to the life insurance industry – starting with financing permanent life insurance products for high-net worth individuals, partnerships, and corporations (public or private). The Company’s approach is centered around creating a win-win environment for all constituents – insurance carriers through better persistency and increased premium, policyholders through the cheapest and most flexible/ appropriate financing options, brokers/agents through the best and most sophisticated sales tools, and lenders through the most attractive return for the equivalent risk. Gracie Point is backed by Hudson Structured Capital Management and by Jon Baker Sr., Founder of the International Planning Group.
Key Benefits
Financing life insurance premiums can deliver significant benefits through which clients can:
• Obtain a significant amount of life insurance with limited up-front out-of-pocket costs.
• Preserve, maintain and build assets in your existing portfolio by using third party funding to pay life insurance policy premiums.
• Leverage your annual gift-tax exclusions or lifetime exemption to transfer other assets estate tax free.
• Minimize or eliminate gift taxes on policy premiums if the policy is owned by an Irrevocable Trust.
• Gain an economic advantage by reducing the out-of-pocket cost of the policy and potentially leveraging its future cash value.
• Use the policy cash value as part of the collateral for the loan (additional collateral may be required to secure the loan).
Contacts:
Dean J. De Marco
Head of U.S.Business Development 212-487-5111 ext 424
ddemarco(at)graciepoint.com
