Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

S&P Gives Life Settlement Firm High Rating

Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 4, 2004, 5:40 p.m. EDT

Coventry First L.L.C., Fort Washington, Pa., has received a “strong” ranking with a stable outlook from Standard & Poor’s Ratings Services, New York.[@@]

The ranking is noteworthy because Coventry First is the first life settlements company that S&P has ranked.

Life settlement companies help arrange for the resale of life insurance policies that are already in force.

S&P analysts awarded Coventry First a high ranking because it has experienced executives and effective policies and internal controls, S&P says.

“There is careful tracking throughout the case-management process to ensure no issues arise that might affect the company’s ability to collect on a future claim payment,” S&P says in a comment on the ranking. “Policy and procedure manuals are well written, and the auditing mechanisms in place provide for regular cyclical reviews of all areas to mitigate potential servicing issues.”

Coventry now services about $3 billion in in-force life insurance policies.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.