Death gives life to new ABS asset class for Asia

VIG Capital Management putting together deal backed by senior and life settlement insurance policies.

The wise old sage Benjamin Franklin once observed that the only two things certain in life were death and taxes. For securitization professionals, tax revenue is a pretty well-established asset class and now it seems value will be derived from the other of life's certainties as well.

VIG Capital Management, which specializes in providing alternative investments, is specifically targeting Asian investors to buy a securitization backed by a portfolio of senior and life settlements. These settlements, held by US citizens, give life insurance policyholders the opportunity to receive an immediate payment for an asset that would otherwise lie dormant until death in exchange for the holders waiving all rights to those policies.

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