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Laureola launches Sydney office to build life settlements interest

Thursday, May 12, 2022
Opalesque Industry Update - After a soft entrance to the Australian market two years ago, life settlements fund manager, Laureola Advisors, has appointed an experienced distribution head and opened a Sydney office on Martin Place.

Nathan Wares has joined as Managing Director, Australia and New Zealand. His experience in financial services distribution and marketing extends over the past three decades.

"Nathan is a valued appointment for Laureola as we expand from our initial discussions in Australia with investors and family offices. No other asset in the current marketplace is uncorrelated to the wider financial markets and we expect strong interest from super funds, institutions and cashed-up SMSFs looking for alternative defensive assets.

"A life settlement describes the transaction where an insured person sells a life insurance policy to an investor for a cash sum; the investor takes over the obligation to pay premiums on the policy and collects the death benefit when the insured eventually dies. The legal basis for this was confirmed by a US Supreme Court ruling in 1911 and the life settlement market is well established in the United States," said John Swallow, Director, Laureola Advisors.

Life settlements as an asset are non-correlated to markets

Life settlement transactions are highly regulated in the United States. The rights of life insurance policy holders are protected and sales occur where the policy owners either no longer require the life cover or cannot afford the premiums. Life settlement funds pay policy holders three or four times the amount offered by the issuing life company to surrender the policy. A well-structured fund of life settlements, which derives its returns from maturities as opposed to artificial accounting gains, is expected to deliver positive returns in all market conditions.

Nathan has over 25 years experience in funds management, investment banking, financial markets and private banking. In the past 20 years he has held senior roles both in a leadership and sales capacity at Citigroup Asset Management as Vice President of Sales, ANZ Investment Bank as Director of Equity Capital Markets and a Director of Westpac and St George Private Banks managing people and UHNW Client Portfolios.

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