Life-Exchange Becomes a Member of the German Life Settlement Association
MIAMI–(BUSINESS WIRE)–Sept. 14, 2006–Life-Exchange, Inc. (Pink Sheets:LFXG), the leader in electronic trading for the life settlement industry, has been accepted as a member of the German life settlement association, the Bundesverband Vermogensanlagen im Zweitmarkt Lebensversicherungen (BVZL). The BVZL is similar to the Life Insurance Settlement Association (LISA) found in the United States.
Life-Exchange’s President and Founder, David Dorr, commented, “While the USA is the world’s largest market for life insurance, it is by no means the only market. Countries like Germany, Great Britain and Japan account for approximately 40% of all life insurance premiums, and Life-Exchange is committed to establishing itself in these untapped markets.”
“Life-Exchange is among the first U.S. based companies to be approved for membership by the BVZL and the first of its kind amongst our members. We have a number of members anxious to attend our next members’ meeting in October so that they can develop an early relationship with Life-Exchange,” commented Thomas Laumont, Chairman of the BVZL.
The BVZL was founded by institutional investors to develop industry standards with respect to transparency and comparability of the various investment segments involved in the life settlement market, including those from Britain, Germany and the United States. “Since the goals of the BVZL closely parallel those of Life-Exchange — to promote transparency and compliance in the life settlement marketplace — we were eager to become members of this organization,” Mr. Dorr added.
About Life-Exchange, Inc.
Life-Exchange is the largest and only independent, electronic trading platform for the life settlement industry. Designed by industry leaders, Life-Exchange serves the secondary life insurance market by bringing buyers and sellers of life settlement policies together in a virtual, online marketplace. The features of Life-Exchange are specifically designed to improve regulatory compliance, increase customer value, reduce transaction costs, create new revenue models, and add efficiency to an otherwise inefficient market. Founded in 2004, Life-Exchange is headquartered in Miami, Florida. For additional information on Life-Exchange, Inc. visit http://www.life-exchange.com or call 866-907-9766.
About the BVZL
The BVZL was founded in 2004 with the purpose of providing uniform representation of the economic, legal and political interests involved in the German life settlement industry. For additional information on the BVZL, visit http://www.bvzl.de or email them at [email protected].
