12 March 2015 Insurance

Sundance acquires Hyperion life policies

Sundance Strategies has acquired Hyperion’s portfolio of life insurance policies, representing approximately $124 million of policy face, in a mostly stock transaction.

The company is engaged in structuring related insurance contracts, policies and obligations into secure, reinsured net insurance benefits known as NIBs.

This portfolio had already been processed into the company's NIB structure prior to closing.

Kraig Higginson, chairman of Sundance Strategies, said: ”We are pleased to have closed on this portfolio, which meets our stringent investment criteria. This is further evidence of the Sundance team's ability to execute on our business plan, and meet our forward objectives.

“We have set a goal of acquiring an additional $500,000,000 face value of insurance assets, then securing them with reinsurance and putting in place the necessary financing for the forward premium payments, by the end of this calendar year.

“The cumulative effect of these layered, year-over-year cash flows, as revenues are received, represents substantial growth for the company. This latest acquisition meets a significant milestone in our corporate development.

"We continue to seek out new sources of policy portfolios as we strive to reach a total of one billion-dollar face value mark this calendar year. Each policy is thoroughly vetted to ascertain whether it meets our stringent investment criteria. We are also continuing to refine our structures to maintain the safety, security, liquidity and yield, as we execute our growth plan.

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