Mississauga, Ont.-based Crown Life Canada Tuesday announced the portfolio completion of $107,500,000 face value in senior life settlements.
Focused on the U.S. life settlement market, Crown Life says it is excited about its contribution and leadership toward the future growth and continued building of this industry.
The firm said life settlements generate high returns that are neither economically sensitive nor correlated to other financial markets or commodity markets.
“We are pleased with this purchase acquisition and wish to thank our funding partner, North Channel Bank along with our trusted advisors and shareholders for their support, hard work, due diligence and perseverance,” said Lorraine Fusco president and CEO, in a release.
“The purchase and close of this significant portfolio establishes Crown Life Canada’s leadership in the life settlement market.”
With over 100 million dollars in assets, this portfolio establishes a strong foundation and positions the company for significant momentum, Crown Life said.