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Archive | Annuities

In Latest Opinion in Long-Running Series of Lawsuits Over Stranger-Originated Annuity Transactions, Rhode Island Court Grants Insurers’ Request for Restitution

March 16, 2017  |   Posted by :   |   Annuities   |   Comments Off on In Latest Opinion in Long-Running Series of Lawsuits Over Stranger-Originated Annuity Transactions, Rhode Island Court Grants Insurers’ Request for Restitution

For years, the story of Joseph Caramadre’s stranger-originated annuity transactions have been told and re-told in lawsuits in Rhode Island state courts and federal courts in the First Circuit. In fact, the latest opinion in such a lawsuit starts with this Rhode Island federal court Chief Judge William E. Smith saying that “Joseph Caramadre’s stranger-initiated […]

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Report: Federal Judge In Rhode Island Orders Restitution For Insurance Fraud Conspiracy That Included Stranger-Originated Annuity Scheme

February 07, 2014  |   Posted by :   |   Annuities   |   Comments Off on Report: Federal Judge In Rhode Island Orders Restitution For Insurance Fraud Conspiracy That Included Stranger-Originated Annuity Scheme

A federal judge in Rhode Island this week ordered that two men must pay $46 million in restitution for the losses they caused in an insurance fraud scheme that involved, among other things, stranger-originated annuities, according to a news report in the Providence Journal-Bulletin. United States District Court Judge William E. Smith, of the District […]

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What’s An ‘Advance’?

December 12, 2013  |   Posted by :   |   Annuities,Life Settlements,Litigation Funding,Lottery,Structured Settlements   |   Comments Off on What’s An ‘Advance’?

In the world of secondary insurance markets, an “advance” is a payment to a customer or potential customer of a secondary market transaction.  There are other names for the term, but advances are usually made by a company in order to induce the customer to proceed with a transaction with that company. There can be […]

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Veterans Benefits Transactions Drew Legislator’s Attention A Decade Ago

November 22, 2013  |   Posted by :   |   Annuities,Structured Settlements   |   Comments Off on Veterans Benefits Transactions Drew Legislator’s Attention A Decade Ago

Pension factoring has drawn considerable attention this year from state and federal officials, as described, for example, in these posts here, here and here. But more than a decade ago, pension factoring drew the attention of at least one federal legislator. In 2001, Florida Congressman E. Clay Shaw criticized the practice, according to a newspaper […]

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Commentator Calls Wentworth IPO ‘Glimpse Into The Types Of Financial Structures That Existed Prior To The Collapse Of Lehman Brothers’

November 19, 2013  |   Posted by :   |   Annuities,Litigation Funding,Lottery,Structured Settlements,Uncategorized   |   Comments Off on Commentator Calls Wentworth IPO ‘Glimpse Into The Types Of Financial Structures That Existed Prior To The Collapse Of Lehman Brothers’

The initial public offering of JGWPT Holdings, Inc. – parent company of J.G. Wentworth and Peachtree Settlement Funding – was completed last week (as described here). But prior to the IPO, at least one commentator offered some criticism of the financial aspects of the deal. Writer Antoine Gara wrote for thestreet.com that “J.G. Wentworth’s IPO […]

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JGWPT Completes IPO

November 18, 2013  |   Posted by :   |   Annuities,Litigation Funding,Lottery,Structured Settlements   |   Comments Off on JGWPT Completes IPO

JGWPT Holdings, Inc. – parent company of J.G. Wentworth and Peachtree Settlement Funding – completed its $100-million-plus initial public offering last week and began trading on November 8 on the New York Stock Exchange, according to various news reports. Some reports (such as the one here) said that JGWPT had sold 9,750,000 shares at $14 […]

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Op-Eds: Handling Cash For Children? Managing Wealth? Try Waiting

October 10, 2013  |   Posted by :   |   Annuities,Structured Settlements   |   Comments Off on Op-Eds: Handling Cash For Children? Managing Wealth? Try Waiting

Don McNay is the founder of the Kentucky Guardianship Administrators, and has been involved in the primary structured settlement market for years.  He frequently authors commentary pieces.  One recent article, “Life Lessons About Creating Wealth”, appeared in the Richmond Register (here) and includes this point: “People who had easy access to cash were the ones […]

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J.G. Wentworth Proceeds, Not For The First Time, Down IPO Path

October 07, 2013  |   Posted by :   |   Annuities,Lottery,Structured Settlements   |   Comments Off on J.G. Wentworth Proceeds, Not For The First Time, Down IPO Path

J.G. Wentworth’s holding company, JGWPT Holdings, Inc., is considering an initial public offering in the near future, according to news reports from several sources this week.  The news articles include the following: “J.G. Wentworth Pursues IPO“, in the October 6, 2013 Wall Street Journal; “J.G. Wentworth Operator Files To Raise $200 Million U.S. IPO“, at […]

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Forbes: Review Important Terms, Consult With Professional Adviser Before Considering Pension, Settlement Factoring Transactions

June 20, 2013  |   Posted by :   |   Annuities,Structured Settlements,Uncategorized   |   Comments Off on Forbes: Review Important Terms, Consult With Professional Adviser Before Considering Pension, Settlement Factoring Transactions

The SEC and FINRA alert concerning pension factoring and structured settlement factoring prompted a Forbes.com article entitled “Pension Loans Finally Catch Regulators Attention“, available here. According to the article, those considering entering into, or investing in, such deals, should: “Ask for a contract to review upfront before you sign anything.  Then tell the company you […]

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ABC News Invokes Jacob and Esau In Telling Pension Factoring Tale

June 07, 2013  |   Posted by :   |   Annuities,Uncategorized   |   Comments Off on ABC News Invokes Jacob and Esau In Telling Pension Factoring Tale

Many media outlets have had stories in the past few weeks about the attention given by federal and state officials to pension factoring.  Two of the more recent Secondary Insurance Market Blog posts on the subject, containing links and round-ups of such stories, are here and here. And then there is the ABC News story that […]

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