Veris Settlement Partners’ Russel Dorsett has been elected the new president of LISA, the Life Insurance Settlement Association. He has been on LISA’s board since 2007 and has acted as vice president since last year.

“LISA plays an enormously important role in representing the broadest possible range of secondary market participants and interested parties,” said Dorsett. The new president plans to promote sound regulation to help shape the future of the industry.

Dorsett’s history includes serving in an executive capacity for a number of large companies, including eight years as the CEO of AIA Australia, a division of AIG. He has extensive experience in global insurance, financial services and regulatory affairs management.

The mission of LISA, which began in 1995, is to promote the integrity and reputation of the life settlement industry, in which senior citizens’ sell their life insurance policies for a percentage of death benefits.