Conning Research: U.S. Life Settlements Activity Flattened in 2008

- Conning 2008 estimate: $11.7 billion of life insurance face values settled

HARTFORD, Conn., Oct. 8 /PRNewswire/ -- The life settlements market was hit
hard by the economic crisis and other factors in 2008, according to a new
study by Conning Research and Consulting.

"The economic crisis was the major impediment to growth in the United States
life settlements market in 2008, as the credit markets froze in the second
half and life settlements buyers had difficulty financing new premiums," said
Scott Hawkins, analyst at Conning Research & Consulting. "In addition, the
major life expectancy underwriters revised their methodologies, calling into
question the accuracy and valuation of existing portfolios. While there were
fewer active buyers in the market, our $11.7 billion estimate of 2008 settled
policies did increase our estimate of cumulative in-force life settlements
face values."

The Conning Research study, "Life Settlements: A Buyers' Market for Now"
presents Conning's estimates of current market size and growth rate, as well
as a long term forecast and analysis of market conditions.

"The life settlements market must shake off profitability concerns and general
market concerns about life insurer solvency before it will return to growth,"
said Stephan Christiansen, director of research at Conning. "The buyers'
market of late 2008 and 2009 should help buyers re-establish profitability in
their portfolios. More policyholders want to sell, and more agents now
understand life settlements -- the near term challenge is all about buyers'
and investors' capacity."

"Life Settlements: A Buyers' Market for Now" is available for purchase from
Conning Research & Consulting, by calling (888) 707-1177 or by visiting the
company's web site at www.conningresearch.com.

About Conning Research & Consulting

Conning Research & Consulting provides insurance industry analysis to insurers
and industry stakeholders. Its published research includes market coverage of
30 segments of the industry in addition to industry forecasting and
identification and analysis of major strategic issues. As a result of its
wealth of experience and intimate knowledge of the insurance industry, Conning
understands industry challenges and opportunities and provides in-depth
analyses on a wide range of industry products and issues. The Conning name has
represented excellence in independent insurance industry research for 50
years. Conning Research & Consulting is a division of Conning, a provider of
asset management and insurance industry research and consulting services to
insurers.. Conning is headquartered in Hartford, CT.

Contact: Anne Steinberg
Kitchen Public Relations, LLC
212-687-8999
anne@kitchenpr.com

SOURCE Conning Research & Consulting

Anne Steinberg, Kitchen Public Relations, LLC, +1-212-687-8999,
anne@kitchenpr.com