20th Sep 2024 12:05
(Alliance News) - Life Settlement Assets PLC on Friday emphasised continued focus on monitoring its policy portfolio, after seeing an improvement in the first half.
Life Settlement is a London-based closed-ended investment company which manages portfolios of whole and fractional interests in life settlement policies, issued by life insurance companies operating predominantly in the US.
The firm posted a net asset value per share as at June 30 of USD2.26, up 1.3% from USD2.23 at December 31.
For the six months ended June 30, it reported pretax profit of USD3.5 million, up from USD863,00 a year prior. Total net profit amounted to USD3.5 million from USD900,000.
Total maturities for the first six months came to USD15.7 million, up from USD14.2 million, generating gains from life settlement portfolios of USD 8.1 million, up from USD5.4 million.
On February 15, the company declared a special dividend of 6.02 cents per share. It did not announce any further dividend payments on Friday.
Looking ahead, Life Settlement said that the board remains focused on monitoring the performance of the company's policy portfolio, "accurately assessing mortality risk, and actively managing its cost base against the background of inflationary pressures".
Shares in Life Settlement Assets were flat at USD1.76 each in London on Friday morning.
By Holly Beveridge, Alliance News senior reporter
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