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Qualified Investors: Register
                                                                by June 19th for $599!


         2nd
   Life Settlements
   & Longevity Summit
                                                                                                                                                TM




   September 30 – October 1, 2009                                                     New York City


   Delivering Superior Returns through Smart Investments in Life
   Settlements, Longevity Risk and Life Insurance Securitization




    40+ industry-leading speakers, including these innovators and investors:
              Mike Kreidler                          Emmanuel Modu                            Ron Steijn                                   Mike Fasano
              Commissioner                           Managing Director and Global             Group Vice President, Head of                President
              Washington Insurance                   Head of Structured Finance               Asset Management                             Fasano & Associates
              Commission                             AM Best                                  ABB Pension Fund Switzerland

              Thomas Hampton                         Rene Nunez                               Hal Singer                                   Matthew Browndorf
              Commissioner                           Chair, Investment Committee              President                                    Chief Investment Officer
              DC Insurance Department                Texas Permanent School Fund              Empiris                                      Browndorf PEM




    The most comprehensive life settlements-                                                        New for September 2009:
    related content, enabling you to:                                                               •   Pension & Endowment Fund Think Tank, delivering exclusive
                                                                                                        educational content for institutional investors
    •   Get the global picture for investments in life settlements, with exclusive insights
        regarding the Asian, Latin-American and Eastern European markets
                                                                                                    •   Insurance Commissioners’ Roundtable – benefit from the
                                                                                                        latest regulatory insights from the commissioners of Washington
    •   Overcome the pricing issues associated with life settlement portfolios by                       State, Pennsylvania, DC and Maryland
        gaining a deeper understanding of the methodologies used by LE providers
                                                                                                    •   Interactive Roundtable Sessions on your most pressing
    •   Discover what the securitization of life settlements means for new and                          issues, enabling you to brainstorm solutions with your peers
        existing investors in the asset class
                                                                                                    •   New investor insights from pension funds, endowment
    •   Invest in confidence by gaining a comprehensive understanding of new                            funds and private equity firms, giving you a 360º
        regulatory developments, IRS rulings and litigation outcomes                                    perspective on investment trends for life settlements



        Medical Life Expectancy Debate! “The Future of Human Longevity”
                                        Dr. Aubrey De Grey                                                 Dr. Jay Olshanksy
     "Radical postponement                     Chairman &                                                  Professor of                  “Nothing in gerontology
    of age-related ill-health is                   Founder                                                 Epidemiology                comes close to fulfilling the
    a feasible medical goal."
                                                                                 VS                                                       promise of dramatically
                                               Methuselah                                                  University of Illinois
                                                Foundation                                                 at Chicago                  extended human lifespans.”


                Sponsors:




Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
An outstanding line-up of
                                                                                                                          investors, fund managers
                                                                                                                          and industry experts:
               2nd
            Life Settlements                                                                                              Rene Nunez, Chair, Investment Committee,
                                                                                                                          Texas Permanent School Fund

            & Longevity Summ
                                                                                                                          Ron Steijn, Group Vice President, Head of

                             it                                                                   TM                      Asset Management,
                                                                                                                          ABB Pension Fund Switzerland
                                                                                                                          Matthew Browndorf, Chief Investment
            Dear Colleague,                                                                                               Officer, Browndorf PEM
                                                                                                                          Joel Ario, Commissioner,
           Clearly, 2009 is a year of tremendo                                                                            Pennsylvania Insurance Department
                                                   us opportunity for investors in life
           More seniors are turning to the life                                         settlements and longevity.
                                                    settlement option than ever before,                                   Thomas Hampton, Commissioner,
           product on the market and creating                                              increasing the amount of       DC Insurance Department
                                                     a strong negotiating position for inves
           global stock volatility is intensifyin                                             tors. At the same time,
                                                  g the need to diversify with an unco                                    Ralph Tyler, Commissioner,
           settlements, it seems, have never                                            rrelated asset. Life
                                                 been such a great investment.                                            Maryland Insurance Department
            It isn’t all roses, however. Following                                                                        Mike Kreidler, Commissioner,
                                                    the life expectancy revision in 2008
            on their portfolios and there rema                                            , many investors lost money     Washington Insurance Commission
                                                 ins widespread uncertainty regarding
            the new LEs be trusted? Will they                                             LEs currently in place. Can     Steven Bloom, Senior Portfolio Analyst,
                                                 too be revised upwards in the next
           investors do to guard against that                                          few years? What can                APG Investments
                                                  extension risk? Furthermore, the envir
           settlements grows increasingly more                                             onment for investing in life
                                                     complicated with new tax rulings,                                    Heinz Kubli, Managing Partner, Fundabilis
           lack of nationwide consensus on the                                           regulatory changes and a
                                                     definition of “insurable interest”.                                  Emmanuel Modu, Managing Director and
           but the complexity is real too.                                               The opportunities are real,
                                                                                                                          Global Head of Structured Finance, AM Best
       Taking place in New York City from                                                                                 Antony Mott, Managing Director, Structured
                                                 September 30th – October 1st, IQPC
       Longevity Summit has been spec                                                    ’s 2nd Life Settlements &        Insurance Products, ICAP
                                               ifically designed to help you – the
       opportunities and pitfalls of this excit                                     investor – make sense of the
                                                  ing investment class. Whether you’                                      Jonas Mårtenson, Founder & CEO,
       – keen to maximize your existing                                                 re an experienced investor
                                             investment – or new to the market                                            Ress Capital
       suitability of the asset class, this conf                                    and still evaluating the
                                                  erence delivers invaluable insights                                     Jose Garcia, CEO,
       managers and industry experts, ensu                                            from investors, fund
                                                 ring you make the best possible decis                                    Carlisle Fund Management
                                                                                           ions for superior returns.
        •  Confused about the regulatory                                                                                  Andrew Terrell, CEO, Bristlecone Capital
                                                   environment for life settlements?
           Then don’t miss our Insurance Com                                                                              Isaac Efrat, Senior Managing Director,
                                                    missioners’ Roundtable, bringing toge
           Washington State, Thomas Hampton                                                    ther Mike Kreidler of      Aladdin Capital
                                                          of Washington DC, Joel Ario of Penn
           Ralph Tyler of Maryland, in an exten                                                    sylvania and
                                                       ded panel discussion on the developm                               James Wang, Managing Director,
           attitudes towards investments in the                                                  ent of regulatory
                                                      secondary market. See page 3 for                                    Greater Asia Asset Management HK
                                                                                            further details.
       •   Want to know how institutional                                                                                 Victor DeLaet, CEO,
                                                    investors are evaluating the asse                                     Focused Money Solutions
           Don’t miss out on your chance to                                                  t class?
                                                  meet with Steven Bloom of APG,
          Fund and Rene Nunez of Texas Perm                                           Ron Steijn of ABB Pension           Franz-Philippe Pryzbyl, CEO,
                                                        anent School Fund – among man
          door Pension & Endowment Fund                                                       y others – in a closed-     Berlin Atlantic Capital
                                                  Think Tank that’s dedicated to the
          investors. See page 3 for further deta                                       concerns of institutional
                                                      ils.                                                                Ed Lay, Chairman & CEO, Emeritus Capital
       •    Interested in a fresh perspective                                                                             Kt Huang, Managing Director,
                                                on the life expectancy discussion                                         Emeritus Capital
            IQPC is excited and honored to anno                                        ?
                                                unce a special medical guest deba
            renowned gerontologist Dr. Aubrey                                        te, featuring world-                 Brian Smith, CEO, Life Equity LLC
                                                 de Grey in an explosive showdow
            Olshansky, Professor of Epidemio                                          n with Dr. S. Jay
                                             logy at the University of Illinois at                                        Michael Crane, Managing Director, Coventry
            human longevity and the prospect                                       Chicago, on the future of
                                             s for radical lifespan enhancement.                                          Dr Jay Olshanksy, Professor of Epidemiology,
            details.                                                                See page 4 for further
                                                                                                                          University of Illinois at Chicago
     Just three highlights from an agen                                                                                   Dr Aubrey De Grey, Chairman & Founder,
                                           da that is literally jam-packed with
     discussions, and critical insights into                                    exciting new speakers, panel              Methuselah Foundation
                                             the dynamics of the asset class.
                                                                                                                          Dr Hal Singer, President, Empiris
    I look forward to meeting you in NYC
                                         this September!                                                                  Brian Tijan, Director, Life Finance Group,
    Kind regards,                                                                                                         Credit Suisse
                                                                                     key                                  Caleb Pitters, Director, Credit Suisse
                                                                    P . Don miss s fr om
                                                                     .S     ’t
                                                                                                                          Robin Willi, Principal,
                                                                    academic in  sight                                    BlueCrest Capital Management
                                                                                     one of the
                                                                    Dr Hal Singer, ts in the
                                                                       .                                                  Mike Fasano, President,
                                                                                     is
                                                                     leading econom e 3.                                  Fasano & Associates
    Toby Donovan                                                      space – se e pag
    Program Director
    Finance IQ, a division of IQPC                                                                                        Who Will Attend:
                                                                                                                                           ■ 12% Pension Funds &
                                                                                                                                                 Institutional Investors
                                                                                                                                           ■ 18% Hedge Funds
                                                                                                                                           ■ 15% Asset Management
                                                                                                                                                 Firms & Other Buyside
     “For investors interested in life settlements, there are exciting opportunities
                                                                                                                                           ■ 15% Banks
     but a number of pitfalls too that can catch the unwary. Attending IQPC’s Life
                                                                                                                                           ■ 15% Life Settlement
       Settlements conference is a great way to make sense of this promising,                                                                    Companies
                        uncorrelated, yet challenging asset class.”                                                                        ■ 10% Law Firms
          - Christopher McGlashan, Special Counsel, Stroock & Stroock & Lavan, LLP                                                         ■ 10% LE Provers &
                                                                                                                                                 Underwriters
                                                                                                                                           ■ 5%     Other
2   Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
Main Conference Day 1
    Wednesday, September 30, 2009

    7:45    Registration & Coffee                                                          12:00   The Insurance Commissioners’ Roundtable:
                                                                                                   Surveying the Regulatory Landscape for Life
    8:45    Welcome & Chairman’s Opening Remarks                                                   Settlements
            •   New investment structures and the implications of recent tax law changes           The regulatory environment for life settlements is confusing, complex, and
            •   Business as usual? The impact of new regulatory changes on the                     rapidly evolving thanks to the change in administration and new
                future health and vitality of the life settlements market                          legislative scrutiny. What are the implications for investors, fund managers
                                                                                                   and life settlement providers? Do market participants need to change
    9:00    The Future of Investments in Life Settlements:                                         their business practices? How will regulation shape the marketplace going
            Towards a Deeper Understanding of the                                                  forward? IQPC is honored to convene a panel discussion of insurance
            Dynamics of the Asset Class                                                            commissioners from Pennsylvania, DC, Washington State, and Maryland,
            • Examining the relationship between global equities and investment                    to debate the latest changes to life settlements regulation and answer
              levels in the life settlements space                                                 your burning questions. Specific focus points are set to include:
            • Exploring the possibility of a “correlation of mood”: How

              investment decisions are made and why the uncertainty around
                                                                                                   • Regulatory attitudes towards STOLI, and the emerging consensus
              equities is affecting the secondary market in life insurance                           on “insurable interest”
                                                                                                   • An overview of changes to state and federal life settlement regulations,
            • The effect of the downturn on pension funds and the solvency of seniors:

              Understanding the implications of an “inverse liquidity correlation”                   and their implications on existing and prospective investors
                                                                                                   • Understanding how the new administration will regard the
            • Alternative investments and the flight from equities: Examining the

              role that life settlements can play in future asset allocation strategies              intersection between insurance and the capital markets in general,
                                                                                                     and life settlements in particular
            Matthew Browndorf
            Chief Investment Officer                                                               Joel Ario
            Browndorf PEM                                                                          Commissioner
                                                                                                   Pennsylvania Insurance Department
            Michael Crane
            Managing Director                                                                      Thomas Hampton
            Coventry                                                                               Commissioner
                                                                                                   DC Insurance Department
            Heinz Kubli
            Managing Partner                                                                       Ralph Tyler
            Fundabilis                                                                             Commissioner
                                                                                                   Maryland Insurance Department
            Brian Smith
            CEO                                                                                    Mike Kreidler
            Life Equity LLC                                                                        Commissioner
                                                                                                   Washington Insurance Department
    9:45    Restoring Investor Confidence in Life Expectancies:
            Accuracy, Transparency, and the Future of Medical                              1:00    Networking Lunch
            Underwriting
            • Gaining a deeper understanding of the methodologies used to                  2:00    Fund Managers’ Perspectives on the Future of the
              create life expectancies                                                             Life Settlements Space:
            • Examining the 2008 VBT tables and other data upon which LEs are based                Creating an Effective Vehicle to Navigate
            • Addressing common underwriting concerns, including bias,                             Uncertain Investment Waters
              morbidity and impairment issues
                                                                                                   • Identifying the fund structures most likely to succeed in the current
            • Evaluating the allowance made by LE providers for continuing                           life settlements environment
                                                                                                   • Issues relating to the fund manager’s choice of medical underwriter
              extensions in human longevity
                                                                                                   • Fund managers’ perspectives on the attitudes of institutional
            • Enhancing the transparency of the underwriting process

                                                                                                     investors to the asset class
            Mike Fasano                                                                            • Innovative capital formation approaches and fund-raising strategies

            President                                                                              • Fund construction and tax liability

            Fasano & Associates                                                                    • Successful trading strategies for life settlement portfolios



    10:30   Networking Break in the Solutions Zone                                                 Jonas Mårtenson
                                                                                                   Founder & CEO
    11:15   An Economist’s Response to the ACLI:                                                   Ress Capital
            Using “Real Options Analysis” to Quantify the                                          Jose Garcia
            Economic Impact of the ACLI’s Proposed Changes                                         CEO
            to Life Settlements Regulation                                                         Carlisle Fund Management
            • Understanding the ACLI’s proposal
            • The real options analysis framework                                                  Andrew Terrell
            • Valuing the individual option to resell one’s insurance                              CEO
            • Valuing the option to resell before the holding period expires as a                  Bristlecone Capital
              series of European puts
            • Valuing the option to resell after the holding period expires as an          2:45    Expanding the Investor Base in Longevity-Linked
              American put                                                                         Products
            • The decline in the option value of a representative policy caused by
                                                                                                   • What is the involvement of hedge funds and "real money" players
              a mandatory five-year holding period                                                   in the longevity market?
                                                                                                   • What is the attraction of longevity to a traditionally non-actuarial investor?
            • The decline in the option value summed across all eligible policies
                                                                                                   • In what format do nontraditional life investors typically enter the
              caused by a mandatory five-year holding period
            Hal Singer                                                                               life space?
            President                                                                              Brian Tijan, Director
            Empiris                                                                                Life Finance Group
                                                                                                   Credit Suisse
                                                                                                   Caleb Pitters
                                                                                                   Director
                                                                                                   Credit Suisse
3     Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
Main Conference Day 1
    ...continued

                                                                 The following sessions will run concurrently
                                       General Session                                                 Pension & Endowment Think Tank – New!

    3:30   The Global Investment Picture for Life Settlements                             Evaluating the Investment Opportunities in
           & Life ILS: Emerging Trends from Asia, Latin                                   Longevity-Based Assets
           America and Eastern Europe                                                     The Pension & Endowment Fund Think Tank is an hour long discussion
           • A survey of key investor issues and influences in Europe, Asia and           session limited to 15 participants from pension and endowment funds.
             Latin America                                                                There are two levels of participation: you can be among a select group
           •
             Special Focus: Asia - A new and growing frontier for alternative             of leaders who will bring to the forefront one topic of interest or
             investments                                                                  challenge you are facing right now. Or you can be a featured
           • Examining new strategies for producing risk-managed yields for               participant and take advantage of an exclusive networking and
             institutional investors                                                      learning opportunity that is focused on your specific needs.
           • The role of insurance linked securities in new applications to realize       Attendance is strictly limited to pension and endowment fund
             specific investor goals                                                      participants, and all discussions are off-line and off the record.
           Ed Lay
                                                                                          Participants Include:
           Chairman & CEO
                                                                                                  Rene Nunez
           Emeritus Capital
                                                                                                  Chair, Investment Committee
                   Kt Huang                                                                       Texas Permanent School Fund
                   Managing Director
                                                                                                   Steven Bloom
                   Emeritus Capital
                                                                                                   Senior Portfolio Analyst
                   Franz-Philippe Pryzbyl                                                          APG Investments
                   CEO
                                                                                                   Ron Steijn
                   Berlin Atlantic Capital
                                                                                                   Group Vice President, Head of Asset Management
                   Wai-Keung Tang                                                                  ABB Pension Fund Switzerland
                   Managing Partner
                   Alpha-Value                                                            Want to nominate yourself or a colleague? E-mail:
                                                                                          dhaval.thakur@iqpc.com

    4:15   Networking Break in the Solutions Zone

    4:45   Interactive Roundtable Discussions – New!

           After a jam-packed day of big picture keynotes, panel discussions, case studies, and presentations, the 2nd Life Settlements & Longevity Summit
           gives you the chance to meet and brainstorm with small groups of your peers during our interactive roundtable discussions. This is a great
           opportunity to make valuable contacts from your area of interest, and to deep-dive into the tricky details that you may have missed in the course of
           the day’s sessions. Discussion topics at the conference include:
           A. Reducing the Costs of Carry:
             Driving Investment Returns by Enhancing Efficiency within your Administrative, Tracking & Portfolio Servicing Activities
           B. Understanding the Factors Involved in Portfolio Valuation:
             Should Investors have Confidence in the Prices of Life Settlement Pools?
           C. Liquidity Solutions for Distressed Life Settlement Portfolios:
             Evaluating Options to Bridge Liquidity Gaps and Unlock Future Value
           D. Pure Longevity vs. Life Settlement Pools:
             Comparing Synthetic Structures with Traditional Cash Investments in the Asset Class
           E. Bespoke Medical Underwriting vs. Off-The-Shelf:
             Enhancing the Transparency of your Portfolio Valuations through a More Granular Analysis of Policies
           F. Combating STOLI Without Violating Consumer Rights:
              Is there a Future in Premium Finance?

    5:45   Cocktail Reception & End of Main Conference Day One
           Sponsored by




                       “I was impressed by the quality of the attendees – we made important new contacts.”
                                       - Ward Bondurant, Partner, Morris Manning & Martin, LLP



4              Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
Main Conference Day 2
     Thursday, October 1, 2009

    7:45    Registration & Coffee                                                             10:45   Examining the Role of Rating Agencies Within a Life
                                                                                                      Settlement Securitization
    8:30    Chairman’s Opening Remarks                                                                • Examining the methodology used in rating a life settlements securitization:
                                                                                                        - Performing due diligence on policy origination
    8:45    What Pension & Endowment Funds are Looking For in                                           - Creating boundaries for mortality degradations
            Life Settlements: Transparency, Institutionalization, and                                   - Stress-testing life settlements based on policy size
            the Future of the Asset Class                                                               - Applying lags to the collection of death benefits, to better simulate actual
            • Evaluating the benefits of life settlements for pension funds seeking a non-                collection patterns
              stock market correlated asset class with low volatility levels                            - Applying credit stress tests and default stress tests
            •
              Identifying the common obstacles to investments in life settlements by                  •
                                                                                                        What does the rating signify, and can it be trusted?
              pension funds and other institutional investors
            • Assessing the suitability of longevity-based investments for an LDI-style
                                                                                                      Emmanuel Modu
                                                                                                      Managing Director and Global Head of Structured Finance
              strategy
            • Comparing life settlement investments with synthetic longevity products
                                                                                                      AM Best
            • Examining the progress made towards “institutionalizing” the asset class
                                                                                              11:10   Securitization of a Life Settlements Pool: Uncovering
            •
              Mapping out the timelines for full asset class maturity: When will life
                                                                                                      New Opportunities for New Kinds of Investors
              settlements come of age and what value will they deliver within a pension               •
                                                                                                        Understanding what securitization means for the long term future of the
              fund allocation plan?
                                                                                                        life settlements space
            Antony Mott                                                                               • A closer look at the AIG embedded value securitization and its implications


            Managing Director, Structured Insurance Products                                            for the life settlements market
            ICAP                                                                                      • Examining the investment characteristics of securitized life settlements:


                                                                                                        What new types of investors stand to benefit from these securities?
            Rene Nunez                                                                                • Does securitization bring any dangers? Avoiding mistakes made in the
            Chair, Investment Committee
                                                                                                        mortgage-backed securities space
            Texas Permanent School Fund
                                                                                                      Emmanuel Modu
            Additional Pension Funds & Endowment Funds to be announced - Call
                                                                                                      Managing Director and Global Head of Structured Finance
            Dhaval Thakur @ +1-416-597-4754 for updates and announcements
                                                                                                      AM Best
    9:30    Life Settlements & Taxation: Understanding What the                                       Wai-Keung Tang
            New Rulings Mean for your Investments                                                     Managing Partner
            Additional Pension Funds & Endowment Funds to be announced - Call                         Alpha-Value
            Dhaval Thakur @ +1-416-597-4754 for updates and announcements
                                                                                                      Isaac Efrat
                                                                                                      Senior Managing Director
    10:15   Networking Break in Solutions Zone                                                        Aladdin Capital
                                                                                                      Michael Crane
                                                                                                      Managing Director
                                                                                                      Coventry


    11:50         Medical Life Expectancy Debate - The Future of Human Longevity
                      Is Radical Human Lifespan Extension Within Our Grasp?
                                          Dr. Aubrey De Grey                                                         Dr. Jay Olshanksy
                                          Chairman & Founder                                                         Professor of Epidemiology
                                                 Methuselah                              VS                          University of Illinois at
                                                  Foundation                                                         Chicago



            YES
                                                                                                          NO
            “Aging is the lifelong accumulation of bodily damage. Its immense
            complexity focuses gerontologists on modest medical goals: essentially,                       Radical life extension is not going to happen (if it ever happens) in time
            optimizing our natural anti-aging defenses. Skeptics like Jay neglect the                     to influence any of the investment decisions made by those involved with
            burgeoning field of regenerative medicine, which promises repair of bodily                    life settlements or insurance linked securities. Nothing in gerontology
            damage, and which could therefore postpone aging indefinitely. In fact,                       even comes close to fulfilling the promise of dramatically extended
            experts in all relevant strands of regenerative medicine now aim to treat                     human lifespans – despite what Aubrey says!
            aging - despite what Jay says!
                                                                                                          However, anyone interested in investing in life settlements should
            I thus estimate a 50% chance of radical life extension arriving in 25-30 years.               develop a sound understanding of the biological and demographic
            Moreover, corresponding results in mice could occur within ten years, which                   dynamics that drive mortality trends at older ages. Attending this debate
            will alter public expectations and force dramatic changes in policy.”                         will deepen your understanding of the factors that affect longevity, and
                                                                                                          may make you a smarter investor.


    1:00    Networking Lunch & End of Main Conference

5               Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
Post Conference Workshops
    Thursday, October 1, 2009

    A     2:00 pm - 4:00 pm    (Registration at 1:45 pm)
          “Immunizing” the Secondary Market Buyer: The 5 Things You MUST Do Before Buying a Life Settlements
          Portfolio
     In spite of the significant opportunities in the life settlements space,         origination and eliminate the possibility of future contestability issues
     investments in the asset class remain complicated and there are significant    • Stochastically simulate portfolio performance to determine best and
     pitfalls for investors who don’t conduct the right due diligence, actuarial,     worst case scenarios
     and economic analyses before purchasing. If you’re evaluating the              • Understand how to make use of both primary and secondary LE analysis


     marketplace, but have yet to allocate capital, this extended workshop is       How You Will Benefit:
     for you. You’ll walk away with practical strategies for safeguarding your      • Achieve confidence in portfolio pricing by making a more thorough


     life settlements portfolio and significantly enhancing the security of your      analysis
     investment.                                                                    • Negotiate more effectively with third parties, and achieve more favorable


     What You Will Learn:                                                             pricing arrangements
     • Understand the importance of achieving financial and legal protection for    • Reduce contestability issues by sourcing clean, uncompromised policies


       your investment
     • Utilize water-tight due diligence processes to ensure pristine policy        Additional Pension Funds & Endowment Funds to be announced - Call
                                                                                    Dhaval Thakur @ +1-416-597-4754 for updates and announcements


    B     4:00 pm – 6:00 pm    (Registration at 3:45 pm)

          Custom-Building a Life Settlements Portfolio: Leveraging the Latest Policy Aggregation Techniques to
          Construct a Bespoke Portfolio with Pre-Determined Size, Risk, and Performance Attributes

     The normal strategy for investing in the secondary market is to purchase a       factors with your overall investment strategy
     ready-made portfolio of life settlements. While purchasing an existing pool    • Select between LE market segments: 2-4 year LEs vs. 12 years+
     of insurance policies may appear to be a quick way for fund managers to        • Examining the mechanics of life settlement aggregation: Painless


     enter the market, there is also an alternative view: namely that the time        strategies for producing a transparent, optimized portfolio
     and energy needed to perform the proper due diligence on an existing           How You Will Benefit:
     portfolio of policies is better allocated to building a new portfolio from     • Invest in life settlements without due diligence headaches


     scratch.                                                                       • Determine the characteristics of your portfolio in advance


     What You Will Learn:                                                           • Design a life settlements portfolio that better suits your overall

     • Weigh up due diligence activity on an existing life settlements portfolio      investment strategy
       with the time needed to create a customized portfolio: Where is your
       time better spent?                                                           Additional Pension Funds & Endowment Funds to be announced - Call
     • Define the parameters of your portfolio: Align risk, price and volatility    Dhaval Thakur @ +1-416-597-4754 for updates and announcements




     "Investors are attracted to life settlements because insurance is seen as a
        noncorrelated alternative asset. Life settlements provide noncorrelated
      diversification because insurance policies are independent of the factors
        contributing to economic downturns, such as interest rate fluctuations
         and increasing fuel cost. As a result, life settlements are one way to
         reduce a portfolio's exposure to sudden downturns in the stock and
                  bond markets," – Conning Research & Consulting




                                                                                         “Experts predict explosive growth in life settlements over the next
                                                                                        decade as a result of increasing amounts of institutional capital being
                                                                                        pumped into the system as well as a growing demographic of elderly,
                                                                                          well-off individuals to ensure a generous supply of life insurance
                                                                                                        policies.” – Nuwire Investor Magazine




6           Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
About Our Sponsors
                                Coventry
                                For over 25 years, Coventry has been redefining insurance. Founded in 1982, Coventry began as an insurance
                                marketing, product development and policy administration firm. Known as a leading innovator in the industry, Coventry
                                assisted insurance carriers in the development of product, software and distribution. It established itself as one of the
                                top corporate life insurance companies in America during the 1990s, servicing over 70,000 policies for its corporate
                                clients. In 1998, Coventry created the secondary market for life insurance in the United States and coined the term “life
                                settlement”. As the market leader, Coventry has structured and financed transactions representing more than $25
                                billion of death benefit and has been a key driver behind the market’s rapid growth. Today, Coventry is the largest
                                purchaser and servicer in the longevity and mortality market, employing more than 200 people. Based in Pennsylvania,
                                Coventry was the first secondary market firm to earn Standard and Poor’s highest servicer ranking (2004 and reaffirmed
                                in 2006). In 2005, Coventry was first in revenue in the insurance category of the annual Inc. 500 listing of the fastest
                                growing private companies in America. Website: www.coventry.com

                                Life Equity
                                At LIFE EQUITY, our pricing philosophy is governed by the standard that two policies with the same criteria will receive
                                the same offer. We believe this approach results in consistent and higher payments to owners of life insurance policies
                                who wish to integrate a life settlement into their financial planning. Our funding comes from top-rated financial
                                institutions and not from private investors. LIFE EQUITY makes direct contact with policy owners or their intermediaries
                                regarding offers made. This practice assures a more efficient and expeditious process. Website: www.lifeequity.net

                                Credit Suisse
                                As one of the world’s leading banks, Credit Suisse provides its clients with investment banking, private banking and
                                asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative
                                products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in
                                Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse’s
                                parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit
                                Suisse Group’s registered shares (CSGN) are listed in Switzerland and, in the form of American Depository Shares (CS),
                                in New York. The Life Finance Group at Credit Suisse is a dedicated group of over 90 professionals with backgrounds in
                                various industries which include insurance, banking, structuring, sales and risk management based in New York,
                                London and Hong Kong. Website: www.credit-suisse.com

                                Fasano
                                Fasano Associates is a leading underwriting firm, serving the life, annuity and life settlement markets, with particular
                                expertise in over-65 and impaired life mortality. Fasano’s estimates of life expectancy are considered the most accurate
                                in life settlement market, with an Actual to Expected accuracy ratio of 96% estimated in two successive independent
                                actuarial evaluations. Contact Fasano at www.fasanoassociates.com. Website: www.fasanoassociates.com



    Sponsorship And Exhibition Opportunities
    Sponsorships and exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision-makers
    attending the 2nd Life Settlements & Longevity Summit. IQPC and Finance IQ help companies like yours achieve important sales, marketing and
    branding objectives by setting aside a limited number of event sponsorships and exhibit spaces – all of which are tailored to assist your organization in
    creating a platform to maximize its exposure at the event.

    For more information on sponsoring or exhibiting at the Life Settlements & Longevity Summit, please contact Dhaval Thakur @ +1-416-597-4754 or
    dhaval.thakur@iqpc.com.



    About the Organizer
                                                    Finance IQ, the financial division of IQPC, produces the world’s most cutting-edge and strategic financial
                                                    conferences across the US, Europe, Asia and the Middle East every year, educating almost 5,000 high-level
                                                    executives annually. Our comprehensive events provide an unbiased, specialized forum where you can
                                                    discuss the issues most important to you and network with industry leaders.




7         Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
Qualified Investors: Register
                                                                        by June 19th for $599!


Registration Information
                                                                                                                                              4 EASY WAYS TO REGISTER:
                                                        2nd
                                                     Life Settlements
                                                                                                                                              1     Call:       1-416-597-4754
YES! Please register me for                                                                                                                         Email: dhaval.thakur@iqpc.com
                                                     & Longevity Summit                                                               TM
                                                                                                                                              2
                                                                                                                                              3     Fax:       1-416-598-4734
                                                                                                                                              4     Mail:      IQPC
 ❑ Conference Only               ❑ All Access Pass             ❑ Workshop A              ❑ Workshop B                                                          60 St. Clair Ave, Suite 304
                                                                                                                                                               Toronto, ON M4T 1N5


Name ____________________________________________________________ Job Title _________________________________________________

Organization______________________________________________________ Approving Manager________________________________________

Address _____________________________________________ City___________________________________State__________Zip__________

Phone________________________________________________E-mail_________________________________________________________________

❑ Please keep me informed via email about this and other related events.
❑ Check enclosed for $_________ (Payable to IQPC)                                ❑ Charge my ❑ Amex ❑ Visa ❑Mastercard ❑ Diners Club
                                                                                                   Card #_______________________________Exp. Date___/___

❑ I cannot attend, but please keep me informed of all future events.

Qualified Investors (Pension Funds, Endowment Funds, Hedge Funds and Asset Management Firms)
                                       June 19, 2009              July 3, 2009            July 17, 2009                July 31, 2009              August 28, 2009            Standard Price
 Conference Only                         (Save $900)               (Save $800)             (Save $600)                  (Save $400)                 (Save $200)
                                            $599                      $699                    $899                         $1,099                      $1,299                      $1,499
 All-Access Pass                       (Save $1,198)             (Save $1,098)             (Save $898)                  (Save $698)                 (Save $498)                (Save $298)
 (Main Conference                         $1,399                    $1,499                    $1,699                       $1,899                      $2,099                     $2,299
 + 2 Workshops)
 Workshop(s)                              $549 each                 $549 each               $549 each                    $549 each                   $549 each                  $549 each


All Others (banks, life settlement providers, law firms, consultants, LE providers, medical underwriters, life settlement exchanges, software
providers, rating agencies, and all other companies)
                                                                                                                       July 31, 2009              August 28, 2009            Standard Price
 Conference Only                                                                                                        (save $600)                 (save $300)
                                                                                                                           $1,899                      $2,199                      $2,499
 All-Access Pass                                                                                                        (Save $998)                 (Save $698)                (Save $398)
 (Main Conference + 2 Workshops)                                                                                           $2,599                      $2,899                     $3,199
 Workshop(s)                                                                                                             $549 each                   $549 each                  $549 each

Please call Dhaval Thakur at +1-416-597-4754 for an explanation of Hedge Funds, Pension Funds, Endowment Funds & Asset Managers and All Others.
Please note multiple discounts cannot be combined.                         Details for making payment via EFT or wire transfer:
A $99 processing charge will be assessed to all registrations not          JPMorgan Chase - Penton Learning Systems LLC dba IQPC: 957-097239
accompanied by credit card payment at the time of registration.            ABA/Routing #: 021000021
                                                                           Reference: Please include the name of the attendee(s) and the event number: 17092.002
MAKE CHECKS PAYABLE IN U.S. DOLLARS TO: IQPC
* CT residents or people employed in the state of CT must add 6% sales     Payment Policy: Payment is due in full at the time of registration and includes lunches, refreshment and detailed
tax.                                                                       conference materials. Your registration will not be confirmed until payment is received and may be subject to cancellation.
TEAM DISCOUNTS                                                             For IQPC’s Cancellation, Postponement and Substitution Policy, please visit www.iqpc.com/cancellation
For information on team discounts, please contact Dhaval Thakur            Venue is to be announced. Please check the website for updates and announcements.
at 1-416-597-4754. Only one discount may be applied per registrant.        Special Dietary Needs: If you have a dietary restriction, please contact Dhaval Thakur at 1-416-597-4754 to
Special Discounts Available: A limited number of discounts are available   discuss your specific needs.
for the non-profit sector, government organizations and academia. For      ©2009 IQPC. All Rights Reserved. The format, design, content and arrangement of this brochure constitute a
more information, please contact Dhaval Thakur at 1-416-597-4754           trademark of IQPC. Unauthorized reproduction will be actionable under the Lanham Act and common law principles.



  Sponsors:




Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com

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Lsi 09.2

  • 1. Qualified Investors: Register by June 19th for $599! 2nd Life Settlements & Longevity Summit TM September 30 – October 1, 2009 New York City Delivering Superior Returns through Smart Investments in Life Settlements, Longevity Risk and Life Insurance Securitization 40+ industry-leading speakers, including these innovators and investors: Mike Kreidler Emmanuel Modu Ron Steijn Mike Fasano Commissioner Managing Director and Global Group Vice President, Head of President Washington Insurance Head of Structured Finance Asset Management Fasano & Associates Commission AM Best ABB Pension Fund Switzerland Thomas Hampton Rene Nunez Hal Singer Matthew Browndorf Commissioner Chair, Investment Committee President Chief Investment Officer DC Insurance Department Texas Permanent School Fund Empiris Browndorf PEM The most comprehensive life settlements- New for September 2009: related content, enabling you to: • Pension & Endowment Fund Think Tank, delivering exclusive educational content for institutional investors • Get the global picture for investments in life settlements, with exclusive insights regarding the Asian, Latin-American and Eastern European markets • Insurance Commissioners’ Roundtable – benefit from the latest regulatory insights from the commissioners of Washington • Overcome the pricing issues associated with life settlement portfolios by State, Pennsylvania, DC and Maryland gaining a deeper understanding of the methodologies used by LE providers • Interactive Roundtable Sessions on your most pressing • Discover what the securitization of life settlements means for new and issues, enabling you to brainstorm solutions with your peers existing investors in the asset class • New investor insights from pension funds, endowment • Invest in confidence by gaining a comprehensive understanding of new funds and private equity firms, giving you a 360º regulatory developments, IRS rulings and litigation outcomes perspective on investment trends for life settlements Medical Life Expectancy Debate! “The Future of Human Longevity” Dr. Aubrey De Grey Dr. Jay Olshanksy "Radical postponement Chairman & Professor of “Nothing in gerontology of age-related ill-health is Founder Epidemiology comes close to fulfilling the a feasible medical goal." VS promise of dramatically Methuselah University of Illinois Foundation at Chicago extended human lifespans.” Sponsors: Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 2. An outstanding line-up of investors, fund managers and industry experts: 2nd Life Settlements Rene Nunez, Chair, Investment Committee, Texas Permanent School Fund & Longevity Summ Ron Steijn, Group Vice President, Head of it TM Asset Management, ABB Pension Fund Switzerland Matthew Browndorf, Chief Investment Dear Colleague, Officer, Browndorf PEM Joel Ario, Commissioner, Clearly, 2009 is a year of tremendo Pennsylvania Insurance Department us opportunity for investors in life More seniors are turning to the life settlements and longevity. settlement option than ever before, Thomas Hampton, Commissioner, product on the market and creating increasing the amount of DC Insurance Department a strong negotiating position for inves global stock volatility is intensifyin tors. At the same time, g the need to diversify with an unco Ralph Tyler, Commissioner, settlements, it seems, have never rrelated asset. Life been such a great investment. Maryland Insurance Department It isn’t all roses, however. Following Mike Kreidler, Commissioner, the life expectancy revision in 2008 on their portfolios and there rema , many investors lost money Washington Insurance Commission ins widespread uncertainty regarding the new LEs be trusted? Will they LEs currently in place. Can Steven Bloom, Senior Portfolio Analyst, too be revised upwards in the next investors do to guard against that few years? What can APG Investments extension risk? Furthermore, the envir settlements grows increasingly more onment for investing in life complicated with new tax rulings, Heinz Kubli, Managing Partner, Fundabilis lack of nationwide consensus on the regulatory changes and a definition of “insurable interest”. Emmanuel Modu, Managing Director and but the complexity is real too. The opportunities are real, Global Head of Structured Finance, AM Best Taking place in New York City from Antony Mott, Managing Director, Structured September 30th – October 1st, IQPC Longevity Summit has been spec ’s 2nd Life Settlements & Insurance Products, ICAP ifically designed to help you – the opportunities and pitfalls of this excit investor – make sense of the ing investment class. Whether you’ Jonas Mårtenson, Founder & CEO, – keen to maximize your existing re an experienced investor investment – or new to the market Ress Capital suitability of the asset class, this conf and still evaluating the erence delivers invaluable insights Jose Garcia, CEO, managers and industry experts, ensu from investors, fund ring you make the best possible decis Carlisle Fund Management ions for superior returns. • Confused about the regulatory Andrew Terrell, CEO, Bristlecone Capital environment for life settlements? Then don’t miss our Insurance Com Isaac Efrat, Senior Managing Director, missioners’ Roundtable, bringing toge Washington State, Thomas Hampton ther Mike Kreidler of Aladdin Capital of Washington DC, Joel Ario of Penn Ralph Tyler of Maryland, in an exten sylvania and ded panel discussion on the developm James Wang, Managing Director, attitudes towards investments in the ent of regulatory secondary market. See page 3 for Greater Asia Asset Management HK further details. • Want to know how institutional Victor DeLaet, CEO, investors are evaluating the asse Focused Money Solutions Don’t miss out on your chance to t class? meet with Steven Bloom of APG, Fund and Rene Nunez of Texas Perm Ron Steijn of ABB Pension Franz-Philippe Pryzbyl, CEO, anent School Fund – among man door Pension & Endowment Fund y others – in a closed- Berlin Atlantic Capital Think Tank that’s dedicated to the investors. See page 3 for further deta concerns of institutional ils. Ed Lay, Chairman & CEO, Emeritus Capital • Interested in a fresh perspective Kt Huang, Managing Director, on the life expectancy discussion Emeritus Capital IQPC is excited and honored to anno ? unce a special medical guest deba renowned gerontologist Dr. Aubrey te, featuring world- Brian Smith, CEO, Life Equity LLC de Grey in an explosive showdow Olshansky, Professor of Epidemio n with Dr. S. Jay logy at the University of Illinois at Michael Crane, Managing Director, Coventry human longevity and the prospect Chicago, on the future of s for radical lifespan enhancement. Dr Jay Olshanksy, Professor of Epidemiology, details. See page 4 for further University of Illinois at Chicago Just three highlights from an agen Dr Aubrey De Grey, Chairman & Founder, da that is literally jam-packed with discussions, and critical insights into exciting new speakers, panel Methuselah Foundation the dynamics of the asset class. Dr Hal Singer, President, Empiris I look forward to meeting you in NYC this September! Brian Tijan, Director, Life Finance Group, Kind regards, Credit Suisse key Caleb Pitters, Director, Credit Suisse P . Don miss s fr om .S ’t Robin Willi, Principal, academic in sight BlueCrest Capital Management one of the Dr Hal Singer, ts in the . Mike Fasano, President, is leading econom e 3. Fasano & Associates Toby Donovan space – se e pag Program Director Finance IQ, a division of IQPC Who Will Attend: ■ 12% Pension Funds & Institutional Investors ■ 18% Hedge Funds ■ 15% Asset Management Firms & Other Buyside “For investors interested in life settlements, there are exciting opportunities ■ 15% Banks but a number of pitfalls too that can catch the unwary. Attending IQPC’s Life ■ 15% Life Settlement Settlements conference is a great way to make sense of this promising, Companies uncorrelated, yet challenging asset class.” ■ 10% Law Firms - Christopher McGlashan, Special Counsel, Stroock & Stroock & Lavan, LLP ■ 10% LE Provers & Underwriters ■ 5% Other 2 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 3. Main Conference Day 1 Wednesday, September 30, 2009 7:45 Registration & Coffee 12:00 The Insurance Commissioners’ Roundtable: Surveying the Regulatory Landscape for Life 8:45 Welcome & Chairman’s Opening Remarks Settlements • New investment structures and the implications of recent tax law changes The regulatory environment for life settlements is confusing, complex, and • Business as usual? The impact of new regulatory changes on the rapidly evolving thanks to the change in administration and new future health and vitality of the life settlements market legislative scrutiny. What are the implications for investors, fund managers and life settlement providers? Do market participants need to change 9:00 The Future of Investments in Life Settlements: their business practices? How will regulation shape the marketplace going Towards a Deeper Understanding of the forward? IQPC is honored to convene a panel discussion of insurance Dynamics of the Asset Class commissioners from Pennsylvania, DC, Washington State, and Maryland, • Examining the relationship between global equities and investment to debate the latest changes to life settlements regulation and answer levels in the life settlements space your burning questions. Specific focus points are set to include: • Exploring the possibility of a “correlation of mood”: How investment decisions are made and why the uncertainty around • Regulatory attitudes towards STOLI, and the emerging consensus equities is affecting the secondary market in life insurance on “insurable interest” • An overview of changes to state and federal life settlement regulations, • The effect of the downturn on pension funds and the solvency of seniors: Understanding the implications of an “inverse liquidity correlation” and their implications on existing and prospective investors • Understanding how the new administration will regard the • Alternative investments and the flight from equities: Examining the role that life settlements can play in future asset allocation strategies intersection between insurance and the capital markets in general, and life settlements in particular Matthew Browndorf Chief Investment Officer Joel Ario Browndorf PEM Commissioner Pennsylvania Insurance Department Michael Crane Managing Director Thomas Hampton Coventry Commissioner DC Insurance Department Heinz Kubli Managing Partner Ralph Tyler Fundabilis Commissioner Maryland Insurance Department Brian Smith CEO Mike Kreidler Life Equity LLC Commissioner Washington Insurance Department 9:45 Restoring Investor Confidence in Life Expectancies: Accuracy, Transparency, and the Future of Medical 1:00 Networking Lunch Underwriting • Gaining a deeper understanding of the methodologies used to 2:00 Fund Managers’ Perspectives on the Future of the create life expectancies Life Settlements Space: • Examining the 2008 VBT tables and other data upon which LEs are based Creating an Effective Vehicle to Navigate • Addressing common underwriting concerns, including bias, Uncertain Investment Waters morbidity and impairment issues • Identifying the fund structures most likely to succeed in the current • Evaluating the allowance made by LE providers for continuing life settlements environment • Issues relating to the fund manager’s choice of medical underwriter extensions in human longevity • Fund managers’ perspectives on the attitudes of institutional • Enhancing the transparency of the underwriting process investors to the asset class Mike Fasano • Innovative capital formation approaches and fund-raising strategies President • Fund construction and tax liability Fasano & Associates • Successful trading strategies for life settlement portfolios 10:30 Networking Break in the Solutions Zone Jonas Mårtenson Founder & CEO 11:15 An Economist’s Response to the ACLI: Ress Capital Using “Real Options Analysis” to Quantify the Jose Garcia Economic Impact of the ACLI’s Proposed Changes CEO to Life Settlements Regulation Carlisle Fund Management • Understanding the ACLI’s proposal • The real options analysis framework Andrew Terrell • Valuing the individual option to resell one’s insurance CEO • Valuing the option to resell before the holding period expires as a Bristlecone Capital series of European puts • Valuing the option to resell after the holding period expires as an 2:45 Expanding the Investor Base in Longevity-Linked American put Products • The decline in the option value of a representative policy caused by • What is the involvement of hedge funds and "real money" players a mandatory five-year holding period in the longevity market? • What is the attraction of longevity to a traditionally non-actuarial investor? • The decline in the option value summed across all eligible policies • In what format do nontraditional life investors typically enter the caused by a mandatory five-year holding period Hal Singer life space? President Brian Tijan, Director Empiris Life Finance Group Credit Suisse Caleb Pitters Director Credit Suisse 3 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 4. Main Conference Day 1 ...continued The following sessions will run concurrently General Session Pension & Endowment Think Tank – New! 3:30 The Global Investment Picture for Life Settlements Evaluating the Investment Opportunities in & Life ILS: Emerging Trends from Asia, Latin Longevity-Based Assets America and Eastern Europe The Pension & Endowment Fund Think Tank is an hour long discussion • A survey of key investor issues and influences in Europe, Asia and session limited to 15 participants from pension and endowment funds. Latin America There are two levels of participation: you can be among a select group • Special Focus: Asia - A new and growing frontier for alternative of leaders who will bring to the forefront one topic of interest or investments challenge you are facing right now. Or you can be a featured • Examining new strategies for producing risk-managed yields for participant and take advantage of an exclusive networking and institutional investors learning opportunity that is focused on your specific needs. • The role of insurance linked securities in new applications to realize Attendance is strictly limited to pension and endowment fund specific investor goals participants, and all discussions are off-line and off the record. Ed Lay Participants Include: Chairman & CEO Rene Nunez Emeritus Capital Chair, Investment Committee Kt Huang Texas Permanent School Fund Managing Director Steven Bloom Emeritus Capital Senior Portfolio Analyst Franz-Philippe Pryzbyl APG Investments CEO Ron Steijn Berlin Atlantic Capital Group Vice President, Head of Asset Management Wai-Keung Tang ABB Pension Fund Switzerland Managing Partner Alpha-Value Want to nominate yourself or a colleague? E-mail: dhaval.thakur@iqpc.com 4:15 Networking Break in the Solutions Zone 4:45 Interactive Roundtable Discussions – New! After a jam-packed day of big picture keynotes, panel discussions, case studies, and presentations, the 2nd Life Settlements & Longevity Summit gives you the chance to meet and brainstorm with small groups of your peers during our interactive roundtable discussions. This is a great opportunity to make valuable contacts from your area of interest, and to deep-dive into the tricky details that you may have missed in the course of the day’s sessions. Discussion topics at the conference include: A. Reducing the Costs of Carry: Driving Investment Returns by Enhancing Efficiency within your Administrative, Tracking & Portfolio Servicing Activities B. Understanding the Factors Involved in Portfolio Valuation: Should Investors have Confidence in the Prices of Life Settlement Pools? C. Liquidity Solutions for Distressed Life Settlement Portfolios: Evaluating Options to Bridge Liquidity Gaps and Unlock Future Value D. Pure Longevity vs. Life Settlement Pools: Comparing Synthetic Structures with Traditional Cash Investments in the Asset Class E. Bespoke Medical Underwriting vs. Off-The-Shelf: Enhancing the Transparency of your Portfolio Valuations through a More Granular Analysis of Policies F. Combating STOLI Without Violating Consumer Rights: Is there a Future in Premium Finance? 5:45 Cocktail Reception & End of Main Conference Day One Sponsored by “I was impressed by the quality of the attendees – we made important new contacts.” - Ward Bondurant, Partner, Morris Manning & Martin, LLP 4 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 5. Main Conference Day 2 Thursday, October 1, 2009 7:45 Registration & Coffee 10:45 Examining the Role of Rating Agencies Within a Life Settlement Securitization 8:30 Chairman’s Opening Remarks • Examining the methodology used in rating a life settlements securitization: - Performing due diligence on policy origination 8:45 What Pension & Endowment Funds are Looking For in - Creating boundaries for mortality degradations Life Settlements: Transparency, Institutionalization, and - Stress-testing life settlements based on policy size the Future of the Asset Class - Applying lags to the collection of death benefits, to better simulate actual • Evaluating the benefits of life settlements for pension funds seeking a non- collection patterns stock market correlated asset class with low volatility levels - Applying credit stress tests and default stress tests • Identifying the common obstacles to investments in life settlements by • What does the rating signify, and can it be trusted? pension funds and other institutional investors • Assessing the suitability of longevity-based investments for an LDI-style Emmanuel Modu Managing Director and Global Head of Structured Finance strategy • Comparing life settlement investments with synthetic longevity products AM Best • Examining the progress made towards “institutionalizing” the asset class 11:10 Securitization of a Life Settlements Pool: Uncovering • Mapping out the timelines for full asset class maturity: When will life New Opportunities for New Kinds of Investors settlements come of age and what value will they deliver within a pension • Understanding what securitization means for the long term future of the fund allocation plan? life settlements space Antony Mott • A closer look at the AIG embedded value securitization and its implications Managing Director, Structured Insurance Products for the life settlements market ICAP • Examining the investment characteristics of securitized life settlements: What new types of investors stand to benefit from these securities? Rene Nunez • Does securitization bring any dangers? Avoiding mistakes made in the Chair, Investment Committee mortgage-backed securities space Texas Permanent School Fund Emmanuel Modu Additional Pension Funds & Endowment Funds to be announced - Call Managing Director and Global Head of Structured Finance Dhaval Thakur @ +1-416-597-4754 for updates and announcements AM Best 9:30 Life Settlements & Taxation: Understanding What the Wai-Keung Tang New Rulings Mean for your Investments Managing Partner Additional Pension Funds & Endowment Funds to be announced - Call Alpha-Value Dhaval Thakur @ +1-416-597-4754 for updates and announcements Isaac Efrat Senior Managing Director 10:15 Networking Break in Solutions Zone Aladdin Capital Michael Crane Managing Director Coventry 11:50 Medical Life Expectancy Debate - The Future of Human Longevity Is Radical Human Lifespan Extension Within Our Grasp? Dr. Aubrey De Grey Dr. Jay Olshanksy Chairman & Founder Professor of Epidemiology Methuselah VS University of Illinois at Foundation Chicago YES NO “Aging is the lifelong accumulation of bodily damage. Its immense complexity focuses gerontologists on modest medical goals: essentially, Radical life extension is not going to happen (if it ever happens) in time optimizing our natural anti-aging defenses. Skeptics like Jay neglect the to influence any of the investment decisions made by those involved with burgeoning field of regenerative medicine, which promises repair of bodily life settlements or insurance linked securities. Nothing in gerontology damage, and which could therefore postpone aging indefinitely. In fact, even comes close to fulfilling the promise of dramatically extended experts in all relevant strands of regenerative medicine now aim to treat human lifespans – despite what Aubrey says! aging - despite what Jay says! However, anyone interested in investing in life settlements should I thus estimate a 50% chance of radical life extension arriving in 25-30 years. develop a sound understanding of the biological and demographic Moreover, corresponding results in mice could occur within ten years, which dynamics that drive mortality trends at older ages. Attending this debate will alter public expectations and force dramatic changes in policy.” will deepen your understanding of the factors that affect longevity, and may make you a smarter investor. 1:00 Networking Lunch & End of Main Conference 5 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 6. Post Conference Workshops Thursday, October 1, 2009 A 2:00 pm - 4:00 pm (Registration at 1:45 pm) “Immunizing” the Secondary Market Buyer: The 5 Things You MUST Do Before Buying a Life Settlements Portfolio In spite of the significant opportunities in the life settlements space, origination and eliminate the possibility of future contestability issues investments in the asset class remain complicated and there are significant • Stochastically simulate portfolio performance to determine best and pitfalls for investors who don’t conduct the right due diligence, actuarial, worst case scenarios and economic analyses before purchasing. If you’re evaluating the • Understand how to make use of both primary and secondary LE analysis marketplace, but have yet to allocate capital, this extended workshop is How You Will Benefit: for you. You’ll walk away with practical strategies for safeguarding your • Achieve confidence in portfolio pricing by making a more thorough life settlements portfolio and significantly enhancing the security of your analysis investment. • Negotiate more effectively with third parties, and achieve more favorable What You Will Learn: pricing arrangements • Understand the importance of achieving financial and legal protection for • Reduce contestability issues by sourcing clean, uncompromised policies your investment • Utilize water-tight due diligence processes to ensure pristine policy Additional Pension Funds & Endowment Funds to be announced - Call Dhaval Thakur @ +1-416-597-4754 for updates and announcements B 4:00 pm – 6:00 pm (Registration at 3:45 pm) Custom-Building a Life Settlements Portfolio: Leveraging the Latest Policy Aggregation Techniques to Construct a Bespoke Portfolio with Pre-Determined Size, Risk, and Performance Attributes The normal strategy for investing in the secondary market is to purchase a factors with your overall investment strategy ready-made portfolio of life settlements. While purchasing an existing pool • Select between LE market segments: 2-4 year LEs vs. 12 years+ of insurance policies may appear to be a quick way for fund managers to • Examining the mechanics of life settlement aggregation: Painless enter the market, there is also an alternative view: namely that the time strategies for producing a transparent, optimized portfolio and energy needed to perform the proper due diligence on an existing How You Will Benefit: portfolio of policies is better allocated to building a new portfolio from • Invest in life settlements without due diligence headaches scratch. • Determine the characteristics of your portfolio in advance What You Will Learn: • Design a life settlements portfolio that better suits your overall • Weigh up due diligence activity on an existing life settlements portfolio investment strategy with the time needed to create a customized portfolio: Where is your time better spent? Additional Pension Funds & Endowment Funds to be announced - Call • Define the parameters of your portfolio: Align risk, price and volatility Dhaval Thakur @ +1-416-597-4754 for updates and announcements "Investors are attracted to life settlements because insurance is seen as a noncorrelated alternative asset. Life settlements provide noncorrelated diversification because insurance policies are independent of the factors contributing to economic downturns, such as interest rate fluctuations and increasing fuel cost. As a result, life settlements are one way to reduce a portfolio's exposure to sudden downturns in the stock and bond markets," – Conning Research & Consulting “Experts predict explosive growth in life settlements over the next decade as a result of increasing amounts of institutional capital being pumped into the system as well as a growing demographic of elderly, well-off individuals to ensure a generous supply of life insurance policies.” – Nuwire Investor Magazine 6 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 7. About Our Sponsors Coventry For over 25 years, Coventry has been redefining insurance. Founded in 1982, Coventry began as an insurance marketing, product development and policy administration firm. Known as a leading innovator in the industry, Coventry assisted insurance carriers in the development of product, software and distribution. It established itself as one of the top corporate life insurance companies in America during the 1990s, servicing over 70,000 policies for its corporate clients. In 1998, Coventry created the secondary market for life insurance in the United States and coined the term “life settlement”. As the market leader, Coventry has structured and financed transactions representing more than $25 billion of death benefit and has been a key driver behind the market’s rapid growth. Today, Coventry is the largest purchaser and servicer in the longevity and mortality market, employing more than 200 people. Based in Pennsylvania, Coventry was the first secondary market firm to earn Standard and Poor’s highest servicer ranking (2004 and reaffirmed in 2006). In 2005, Coventry was first in revenue in the insurance category of the annual Inc. 500 listing of the fastest growing private companies in America. Website: www.coventry.com Life Equity At LIFE EQUITY, our pricing philosophy is governed by the standard that two policies with the same criteria will receive the same offer. We believe this approach results in consistent and higher payments to owners of life insurance policies who wish to integrate a life settlement into their financial planning. Our funding comes from top-rated financial institutions and not from private investors. LIFE EQUITY makes direct contact with policy owners or their intermediaries regarding offers made. This practice assures a more efficient and expeditious process. Website: www.lifeequity.net Credit Suisse As one of the world’s leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 48,000 people. Credit Suisse’s parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group’s registered shares (CSGN) are listed in Switzerland and, in the form of American Depository Shares (CS), in New York. The Life Finance Group at Credit Suisse is a dedicated group of over 90 professionals with backgrounds in various industries which include insurance, banking, structuring, sales and risk management based in New York, London and Hong Kong. Website: www.credit-suisse.com Fasano Fasano Associates is a leading underwriting firm, serving the life, annuity and life settlement markets, with particular expertise in over-65 and impaired life mortality. Fasano’s estimates of life expectancy are considered the most accurate in life settlement market, with an Actual to Expected accuracy ratio of 96% estimated in two successive independent actuarial evaluations. Contact Fasano at www.fasanoassociates.com. Website: www.fasanoassociates.com Sponsorship And Exhibition Opportunities Sponsorships and exhibits are excellent opportunities for your company to showcase its products and services to high-level, targeted decision-makers attending the 2nd Life Settlements & Longevity Summit. IQPC and Finance IQ help companies like yours achieve important sales, marketing and branding objectives by setting aside a limited number of event sponsorships and exhibit spaces – all of which are tailored to assist your organization in creating a platform to maximize its exposure at the event. For more information on sponsoring or exhibiting at the Life Settlements & Longevity Summit, please contact Dhaval Thakur @ +1-416-597-4754 or dhaval.thakur@iqpc.com. About the Organizer Finance IQ, the financial division of IQPC, produces the world’s most cutting-edge and strategic financial conferences across the US, Europe, Asia and the Middle East every year, educating almost 5,000 high-level executives annually. Our comprehensive events provide an unbiased, specialized forum where you can discuss the issues most important to you and network with industry leaders. 7 Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com
  • 8. Qualified Investors: Register by June 19th for $599! Registration Information 4 EASY WAYS TO REGISTER: 2nd Life Settlements 1 Call: 1-416-597-4754 YES! Please register me for Email: dhaval.thakur@iqpc.com & Longevity Summit TM 2 3 Fax: 1-416-598-4734 4 Mail: IQPC ❑ Conference Only ❑ All Access Pass ❑ Workshop A ❑ Workshop B 60 St. Clair Ave, Suite 304 Toronto, ON M4T 1N5 Name ____________________________________________________________ Job Title _________________________________________________ Organization______________________________________________________ Approving Manager________________________________________ Address _____________________________________________ City___________________________________State__________Zip__________ Phone________________________________________________E-mail_________________________________________________________________ ❑ Please keep me informed via email about this and other related events. ❑ Check enclosed for $_________ (Payable to IQPC) ❑ Charge my ❑ Amex ❑ Visa ❑Mastercard ❑ Diners Club Card #_______________________________Exp. Date___/___ ❑ I cannot attend, but please keep me informed of all future events. Qualified Investors (Pension Funds, Endowment Funds, Hedge Funds and Asset Management Firms) June 19, 2009 July 3, 2009 July 17, 2009 July 31, 2009 August 28, 2009 Standard Price Conference Only (Save $900) (Save $800) (Save $600) (Save $400) (Save $200) $599 $699 $899 $1,099 $1,299 $1,499 All-Access Pass (Save $1,198) (Save $1,098) (Save $898) (Save $698) (Save $498) (Save $298) (Main Conference $1,399 $1,499 $1,699 $1,899 $2,099 $2,299 + 2 Workshops) Workshop(s) $549 each $549 each $549 each $549 each $549 each $549 each All Others (banks, life settlement providers, law firms, consultants, LE providers, medical underwriters, life settlement exchanges, software providers, rating agencies, and all other companies) July 31, 2009 August 28, 2009 Standard Price Conference Only (save $600) (save $300) $1,899 $2,199 $2,499 All-Access Pass (Save $998) (Save $698) (Save $398) (Main Conference + 2 Workshops) $2,599 $2,899 $3,199 Workshop(s) $549 each $549 each $549 each Please call Dhaval Thakur at +1-416-597-4754 for an explanation of Hedge Funds, Pension Funds, Endowment Funds & Asset Managers and All Others. Please note multiple discounts cannot be combined. Details for making payment via EFT or wire transfer: A $99 processing charge will be assessed to all registrations not JPMorgan Chase - Penton Learning Systems LLC dba IQPC: 957-097239 accompanied by credit card payment at the time of registration. ABA/Routing #: 021000021 Reference: Please include the name of the attendee(s) and the event number: 17092.002 MAKE CHECKS PAYABLE IN U.S. DOLLARS TO: IQPC * CT residents or people employed in the state of CT must add 6% sales Payment Policy: Payment is due in full at the time of registration and includes lunches, refreshment and detailed tax. conference materials. Your registration will not be confirmed until payment is received and may be subject to cancellation. TEAM DISCOUNTS For IQPC’s Cancellation, Postponement and Substitution Policy, please visit www.iqpc.com/cancellation For information on team discounts, please contact Dhaval Thakur Venue is to be announced. Please check the website for updates and announcements. at 1-416-597-4754. Only one discount may be applied per registrant. Special Dietary Needs: If you have a dietary restriction, please contact Dhaval Thakur at 1-416-597-4754 to Special Discounts Available: A limited number of discounts are available discuss your specific needs. for the non-profit sector, government organizations and academia. For ©2009 IQPC. All Rights Reserved. The format, design, content and arrangement of this brochure constitute a more information, please contact Dhaval Thakur at 1-416-597-4754 trademark of IQPC. Unauthorized reproduction will be actionable under the Lanham Act and common law principles. Sponsors: Register Now! Call Dhaval Thakur @ +1-416-597-4754 or Email : dhaval.thakur@iqpc.com