CMS Inc. says it recorded strong premium finance program placement levels in the first quarter despite the turmoil in the market.
Some premium finance companies, particularly those dependent on life settlement transactions, have left the market in recent weeks, according to CMS, Newport Beach, Calif.
Some firms left as a result of liquidity issues and concerns about the accuracy of the life expectancy estimates used in life settlement transactions, CMS says.
But, at CMS, “we have been placing significant amounts of life insurance all year, and April has continued the trend,” says CMS President Julian Movsesian. “We are writing more life insurance and financing … than ever before.”
CMS sells financing arrangements designed to help affluent and wealthy individuals with estate planning arrangements and other planning strategies.