November 27, 2018
Financing of US Life Settlements for US Family Office
North Channel Bank supports one of its existing customers in financing premium payments. A US-based family office has signed a new one-year loan agreement with an option for a two year extension.
“In this case, we are pleased to be able to meet the needs of our customer as their bank partner. It is extremely important to us to support our customer in the best possible way at a time when the life expectancy of insured persons is increasing and when the cost of insurance (COI) continues to rise,” says Stefan Rensinghoff, Managing Director of North Channel Bank.
US Life Settlements – Financing and Investing with Specialists
North Channel Bank is one of the few institutions worldwide to provide US Life Settlement financings. They are individually tailored to the term and structure of the investment. The bank’s services cover financing of portfolio acquisition, payment of regular premiums, leverage and repayment of existing loan liabilities.
In addition to direct investments in US Life Settlements, North Channel Bank offers investors the opportunity to invest in customer loan portfolios or to invest as a co-investor in a policy portfolio of the bank. The bank always holds at least 50% of the portfolio and therefore has a strong interest in the quality of the asset and its performance. In addition, North Channel Bank is very close to the market thanks to the expertise of its affiliate, a US servicer. With these offers, investors have the opportunity to get to know the asset class within their own risk appetite.
North Channel Bank GmbH & Co. KG was founded in 1924 as the privately owned bank Bankhaus Oswald Kruber, located in Berlin. In 2009, a group of North American investors with expertise in the US Life Settlement sector acquired the bank and renamed it North Channel Bank. In the following years the bank developed into one of the leading institutes in US Life Settlement financing. 2013 with the takeover of its affiliate NorthStar Life Services, LLC, Irvine, California the bank gained direct access to and influence on a reliable, experienced and renowned service provider. Today, in addition to financing, the bank also offers investments in US Life Settlements. In the structured finance division the bank focuses in particular on financing in the renewable energies sector, (especially equity interim financing), capital goods financing, and acquisition finance.
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