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Life Health > Life Insurance

Coventry Buys More Life Policies

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NU Online News Service, March 10, 2004, 12:57 p.m. EST – Coventry First L.L.C., Fort Washington, Pa., says it has acquired life insurance policies with a face value of more than $1 billion in the past 10 months.[@@]

Coventry First uses Wall Street capital to buy annuity and life insurance benefits from the original contract owners. The firm says it has bought more than $2 billion in life policies and annuities since November 2001.

The sellers received payments that were $240 million greater than the cash-surrender value of the life policies and annuities, Coventry First says.


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