The event marked a significant milestone for the industry, as the Symposium provided attendees with an investment-focused setting that brought together key industry players with active and prospective investors.
"We are thrilled to witness the momentum and education sharing during our second annual Private Life Settlement Symposium," said Scott Romanek, Managing Director, Sales at AIR Asset Management. "The Symposium served as an exceptional platform for industry professionals and investors to connect, network, and gain valuable insights into the life settlement market. We believe this collaborative environment is vital for our industry's continued growth and success."
The Symposium provided a comprehensive overview of the asset class, the latest secondary market data from the Life Insurance Settlement Association (LISA), AIR's unique multi-strategy approach to longevity investing, investment structures, and life expectancy concepts and developments.
Attendees heard valuable information directly from industry sources. One element remains clear; life settlements continue to provide financial benefits to seniors. LISA reported that its provider members achieved an average multiple of 5.2 on the price paid to consumers compared to what they would have received by surrendering their policies directly to the life insurance company. This represents a significant financial advantage for seniors. The report also highlighted that LISA provider members paid approximately $789.6 million to consumers in 2022, a notable increase of nearly $40 million from the previous year. The number of transactions completed in 2022 reached 3,079, showcasing the industry's steady growth.
In addition to the insightful discussions about the market, the Symposium featured sessions on investing. These investment-focused sessions highlighted how AIR's approach to life settlements, through its multi-strategy, provides equity-like returns with bond-like volatility, offering investors much-needed diversification to weather storms like 2022. Hearing directly from the managers about AIR's complementary strategies, such as law firm lending and lower middle-market lending, showcased the opportunity to allocate to life settlements while providing investors with a valuable alternative for individuals seeking to diversify their portfolios, preserve capital, and increase risk-adjusted returns.
"One of the highlights of the Symposium was the meticulous analysis of mortality rate variations among different cohorts. In-depth discussions illuminated these variations' implications and potential impacts, offering attendees a unique insight into life expectancy estimation's intricacies. This exploration of mortality trends proved invaluable for industry professionals and investors seeking to make informed decisions in the life settlement market," said Christopher Conway, Principal of ISC Services & Longevity Asset Advisors.
The Symposium attracted esteemed participants, including sizeable registered investment advisory firms, institutions, consultants, and high-net-worth individuals. Prominent industry participants such as Abacus Life, Life Insurance Settlement Association (LISA), Coventry, Q Capital Strategies, Life Equity, Carlisle Management Company, ISC Services, Longevity Asset Advisors, Lapetus Solutions, Predictive Resources, Life Insurance Settlements, and others were in attendance. Additionally, representatives from AIR Asset Management's esteemed partners and service providers, including EisnerAmper, Sadis & Goldberg, Aegis, Kerberos Capital Management, Star Mountain Capital, and a handful more, joined the event.
Beyond the insightful content shared during presentations and discussions, attendees had numerous opportunities to network, exchange knowledge, and interact with the AIR Asset Management team. Networking events included a Lake Michigan Boat Cruise to see the famous Chicago fireworks and a dinner that featured keynote speaker Bill Benjamin, who spoke on the "Art of Empathy" to build emotional intelligence in leaders, which complements AIR Asset Management's values and culture. These valuable connections further contributed to the collaborative atmosphere, fostering meaningful relationships within the life settlement industry.
About AIR Asset Management
AIR Asset Management ("AIRAM") is a rapidly growing SEC-registered hedge fund management firm with approximately $700 million in AUM in life settlements, annuities, and private credit investments. The firm has specialized in longevity-linked investing since 2014 and has offered qualified investors the opportunity to access attractive risk-adjusted returns largely uncorrelated to traditional asset classes. AIRAM's experienced team of professionals from diverse backgrounds serves an investor base of institutional, registered investment advisers (RIAs), single and multi-family offices, and high-net-worth investors. The firm is headquartered in Chicago.
For more information about AIR Asset Management, please visit www.airassetmanagement.com.
SOURCE AIR Asset Management
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