January 23, 2009 at 07:00 PM
A life settlement administration firm says it handled 25% more settlement applications in 2008 than it did in 2007.
Invescor Ltd., Farmington Hills, Mich., reports that the total face amount of life policies it processed for settlements increased 78% and overall staffing increased 42%.
Invescor sells life settlement back office and brokerage services to broker-dealers, insurance companies, financial advisory firms and independent agents. It says it has processed about 1,400 life settlement transactions with an aggregate face value of $2.8 billion.
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