Coventry Capital Gets FSA Authorization, Begins Longevity Markets Platform

Coventry said this authorization, and the company's exercise of its passport right to provide similar services across the EEA, opens the door for institutions throughout Europe to access the US longevity markets by investing in 'physical' life insurance policies, known as life settlements, as well as structured notes or certificates and derivative transactions such as total return swaps.

"We are pleased to extend Coventry's capital markets platform to Europe," said Reid Buerger, Executive Vice President of Coventry. "Investors globally are seeking to increase their allocations to alternatives and our integrated platform provides unparalleled access to the low volatility and largely uncorrelated performance of this asset class."

Coventry, which developed the model for large-scale institutional investment in life settlements, has structured, serviced and originated in excess of $30 billion in longevity-linked transactions to date.

"Coventry is the only player in this space that has the expertise and infrastructure to both originate longevity risk and to structure and service longevity transactions in-house, delivering greater efficiency and transparency for counterparties," said Michael Crane, Managing Director of Coventry Capital.

As part of the expansion, Coventry said it has assembled an international team of top capital markets professionals who are based in the company's offices in Philadelphia, London and Hong Kong. These moves have positioned Coventry to engage with institutions throughout the world's financial markets.

Coventry Capital is a development of the US longevity market by offering investor and fund services to a range of institutions that includes pensions, endowments, insurers and funds.