The New York Post reported on Thursday that the owners of J.G. Wentworth “may have to settle for a discounted payment of their own.”
That’s because JLL Partners, owners of secondary insurance market company J.G. Wentworth, has received bids to buy the company at “as much as 20 percent shy of its $1 billion asking price . . . .”
One reason for the “discounted” present value, according to the Post report, is that “the company operates in a highly scrutinized area of finance.”
The story incorrectly notes that J.G. Wentworth “controls more than 50 percent of the structured settlement market. . . .” It may be true that the company controls more than 50 percent of the structured settlement factoring market, but the “structured settlement market” is a term that is properly understood as referring to the primary, market for structured settlement annuities – not the secondary market for structured settlement payment rights.
The full story is available at the Post’s web site, here.