|[February 21, 2013]
ILMA Changes Name to Reflect Growing Tertiary Market
WASHINGTON --(Business Wire)--
The Institutional Life Markets Association is now the Institutional
Longevity Markets Association (ILMA). The ILMA board voted at a recent
meeting to change the organization's name to reflect its enhanced focus
on the spectrum of transactions conducted in the longevity market,
including secondary and tertiary trading in life settlements, synthetic
settlements and other derivative transactions and transfers of longevity
risk to the capital markets.
"Transitioning our name from 'Life Markets' to the broader 'Longevity
Markets' name more accurately reflects the suite of products and the
investors involved in this space," said Jack Kelly, ILMA Managing
Director. "Demonstrated by the consistent growth of our membership, ILMA
is a key leader across the spectrum of products designed for investors
in longevity risk and our new name captures our broader focus."
"ILMA is active at the legislative and regulatory level along with
filing amicus briefs on various legal cases affecting this market,"
continued Kelly. "Our members seek to expand and apply capital market
solutions to the challenges in the lfe insurance and broader longevity
markets. We work to educate regulators, policy makers, and the public
that life insurance is a valuable asset."
Membership in ILMA provides research and timely updates on legal,
regulatory and legislative issues. Members are part of an active forum
and encouraged to provide input into ILMA's agenda, collectively joining
and creating a substantial voice in the future direction of the
"Our goal is to represent the investor interest in longevity markets by
actively supporting the responsible growth and regulation of the life
settlement and longevity industry," added Kelly. "ILMA is the only trade
association solely dedicated to the role of the institutional and
investor participants in the longevity markets."
ILMA is a not-for-profit trade association focused on the longevity
marketplace. By creating innovative capital market solutions, ILMA
members seek to expand consumer choice in one of their most important
assets - their life insurance. The Association is a leader in
establishing best practices and in raising awareness about this growing
and vital industry.
ILMA's MISSION is to expand and apply capital market solutions in life
insurance, educate consumers that their insurance may be a valuable
asset, expand consumer choices about how to manage it, and support the
responsible growth and regulation of the industry. We believe that
expanded consumer choice and full disclosure of all fees is good for the
consumer and for the industry.
ILMA Members agree to comply with ILMA's "Guiding Principles" which were
developed by ILMA leadership to facilitate the promulgation of
appropriate regulation and the development of industry "best practices."
The "Guiding Principles" focus on transparency, consumer choices,
fiduciary duty, insurable interest principle, policy origination,
protection of insured's identity, competition, and marketplace education.
Released in 2010, ILMA's "Life Settlement Provider Best Practices" is a
guide of minimum compliance and diligence procedures for life settlement
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