The only publicly traded U.S. life settlement company says a new accounting rule has helped its income statement.
Life Partners Holdings Inc., Waco, Texas, which has a fiscal year that starts March 1, uses cash from financial institutions to buy life insurance policies from the insureds.
The company is reporting $470,992 in net income for the quarter that ended May 31 on $6.2 million in revenue, up from $469,105 in net income on $4.9 million in revenue for the comparable quarter in 2005.