Coventry First L.L.C., Fort Washington, Pa., a major life settlement firm, has named Nathaniel Shapo chief compliance officer.

Life settlement firms buy and sell life insurance policies that insure the lives of consumers who no longer want the policies. The life settlement segment of the industry is growing particularly as older consumers become more comfortable with them and institutions look at the possibility of securitizing these products.

Shapo, 37, has been a partner in the Chicago office of Sonnenschein Nath & Rosenthal L.L.P.

Before that, he was Illinois director of insurance from 1999 to 2003. While at the Illinois department, he served terms as secretary-treasurer and vice president at the National Association of Insurance Commissioner, Kansas City, Mo.

Shapo has a bachelor’s degree and a law degree from the University of Chicago.