MISSISSAUGA, Ontario, May 10, 2013 /PRNewswire/ -- Crown Alliance Capital Limited (OTCBB: CACL) a senior life insurance settlements company, announced that, subject to obtaining financing, it has started moving forward on the purchase of the first 50 million of a life insurance portfolio with a total face value over 100million. Crown focuses on policies where the IRR is in excess of 14% and believes that the best and fastest way to grow the Companies earnings is to increase the size of its life insurance portfolio holdings. With a recent maturity of a policy in the first quarter, Crown realized its best IRR to date of 440%.
According to President and CEO Lorraine Fusco, "Crown is clearly moving in the right direction with a consistent, steady approach to policy target and acquisition. With our strong relationships in the life settlement industry, we are able to capitalize on available portfolios that are built specifically for us." Crown has strict parameters under which they do business and this approach allows the company to ensure the best possible business outcome.
Lorraine Fusco added: "While the due diligence process is time consuming, this is something we absolutely ensure is done. We make sure that every policy in a portfolio matches our stringent requirements. This careful analysis will allow us to safely reach our goal of building a $1 billion portfolio over the next five years, and, in turn, render a profitable stable return."
Crown Alliance is in the process of completing the due diligence process on this new larger portfolio, and looks forward to closing the deal in the very near future.
About Crown Alliance Capital Limited
Crown Alliance Capital Limited (OTCBB: CACL) is a publicly reporting Corporation, formed in March of 2010 with the intention of acquiring senior life settlement policies. The company targets and acquires mainly universal life insurance policies that are no longer desired by individuals in order to build a large portfolio of policies that meet a rigid selection process. By becoming the owner/beneficiary of the policies and maintaining the premiums, Crown is able to obtain a substantial return on investment when each death benefit is ultimately paid.
Crown Alliance Capital Limited
2985 Drew Road, Suite 217
Mississauga, ON L4T OA4
Safe Harbor Statement: Certain statements and information included in this release constitute "forward-looking statements" as defined in the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied in such statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by federal securities laws.
SOURCE Crown Alliance Capital Limited