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Coventry Capital receives FSA authorisation

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Coventry Capital has received authorisation from the Financial Services Authority to advise and arrange transactions on behalf of UK institutions.

This 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,” says 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 pioneered the model for large-scale institutional investment in life settlements, has structured, serviced and originated in excess of USD30bn 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,” says Michael Crane, managing director of Coventry Capital.

As part of the expansion, Coventry has assembled an international team of capital markets professionals who are based in the company’s offices in Philadelphia, London and Hong Kong.

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