- The number of policy sales, at 1,356, represented 10 more deals than in 2011 when the total face value purchased was $5.07 billion and 160 more transactions than in 2012. In all, $406.2 million was paid to purchase policies last year compared to $319.4 million paid the year before.
- The total face value of policies sold reached $2.57 billion, an increase from $2.13 billion the year before.
- Top five settlement buyers:
- Coventry First led the market in the total number of transactions, buying 637 policies in 2013 compared to 597 policies the year before. Coventry paid $71.8 million and purchased $340.1 million in policies.
- Magna Life Settlements Inc. overtook long-time market leader Coventry First LLC in the amount paid and the face value of policies purchased in 2013. Magna paid $153 million, more than double the amount paid by Coventry. Policies purchased by Magna totaled $930 million in face value, almost triple the value of Coventry's policies.
- Settlement Group Inc. came in third place in the ranking, with 71 transactions last year, compared to 53 in 2012 and a fourth-place ranking. Settlement Group paid $12.5 million for 71 policies with $107.2 million in face value last year. Although it did fewer deals in 2012—53 of them—Settlement Group paid almost twice as much for them at $24.7 million. The face amount, at $149.7 million in 2012, also was higher than last year.
- Life Equity LLC had a better year last year, jumping to fourth place with 65 transactions from fifth place with 50 transactions in 2012. The Hudson, Ohio-based provider paid $10.2 million for policies with $121.9 million in face value last year compared to spending $12 million for $137.7 million in death benefits in 2012, reflecting a trend toward smaller policies.
- Abacus Settlements LLC ranked fifth with 56 settlements, $13.5 million paid and a face value of $119.4 million.
Life Settlement Market Bounces Back In 2013
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