NU Online News Service, Jan. 27, 2009, 4:15 p.m. EST
Recent mortality table changes could doom some life settlement firms, according to the top executive at First Equity Benefits of America Inc.
Firms that have revised their life settlement mortality tables recently include 21st Services L.L.C., Minneapolis; AVS Underwriting L.L.C., Kennesaw, Ga.; and Insurance Strategic Services L.L.C., Clearwater, Fla., which does business as ISC Services.
“We are not at all surprised by these changes, as we have always held the opinion that mortality projections were understated,” Leonard Goodman, chairman of First Equity, New York, says in a comment on the changes.