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Policenaufkäufer auf dem Zweitmarkt

English translation: policy buyers [(life) settlement providers] in the German TEP market [secondary market for life insurance]

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Policenaufkäufer auf dem deutschen LV-Zweitmarkt
English translation:policy buyers [(life) settlement providers] in the German TEP market [secondary market for life insurance]
Entered by: Steffen Walter
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09:34 Sep 8, 2006
German to English translations [PRO]
Bus/Financial - Insurance / life insurance
German term or phrase: Policenaufkäufer auf dem Zweitmarkt
In einer Pressenotiz des Bundesverbands Vermögensanlagen im Zweitmarkt Lebensversicherungen e.V. (BVZL) heißt es:
"Die im BVZL zusammen geschlossenen Policenaufkäufer auf dem deutschen LV-Zweitmarkt haben nach den ersten sechs Monaten des Jahres 2006 mit ca. 470 Mio. Euro bereits fast das gesamte Jahreshandelsvolumen aus 2005 erreicht.
helgahofmann
Local time: 22:11
policy buyers [(life) settlement providers] in the German secondary market for life insurance
Explanation:
also "policy purchasers"
LV = Lebensversicherung

See examples:

http://www.idealsettlements.com/on-wall-street.htm

"The ***Policy Buyers*** - ***Life settlement providers*** are companies -- typically licensed by a state insurance department (though a license is not required in some states) -- that buy policies from policyholders for an immediate cash settlement. Some of the biggest names in the business are Coventry First, of Fort Washington, Penn.; Life Capital, San Diego, Calif.; Life Equity, Hudson, Ohio; Peachtree Life Settlements, Norcross, Ga.; Living Benefits Financial Services, Minnetonka, Minn.; and Stone Street Financial, Bethesda, Md. These firms recently formed the Life Settlement Institute to promote the creation of compliance standards for life settlements."

"Life settlements include "viatical settlements," in which a ***settlement provider*** purchases policies from policyholders who are terminally ill. In recent years, however, relatively healthy policyholders also have been selling their insurance coverage because they no longer need its protection. Rather than paying for unneeded insurance or dropping the policy -- which provides a windfall to the insurer -- the policyholder can sell the policy to a ***life settlement provider***, which assembles pools of policies to serve as collateral for investment products purchased by institutional investors. In effect, these ***life settlement provider companies*** have created a viable ***secondary market*** for insurance."


http://www.nebar.com/pdfs/nelawyer/2004/October/200410b.pdf#...

"The Secondary Market for Life Insurance" (title, p. 1 of PDF)

"Under Nebraska law, ***policy purchasers*** must be properly licensed with the Nebraska Department of Insurance." (p. 5 of PDF)
Selected response from:

Steffen Walter
Germany
Local time: 22:11
Grading comment
Thank you for your helpful answer and for the references!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5Purchasers/investors in the TEP marketDavid Moore
4 +1policy buyers [(life) settlement providers] in the German secondary market for life insurance
Steffen Walter
4 +1(life) insurance policy purchasers in the secondary markettransatgees


  

Answers


26 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
(life) insurance policy purchasers in the secondary market


Explanation:
There is also an active market in "second hand" life insurance policies in the UK. See the pages ofthe financial pres from time to time.

transatgees
United Kingdom
Local time: 21:11
Native speaker of: English
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Martin Cassell
0 min
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29 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Policenaufkäufer auf dem deutschen LV-Zweitmarkt
policy buyers [(life) settlement providers] in the German secondary market for life insurance


Explanation:
also "policy purchasers"
LV = Lebensversicherung

See examples:

http://www.idealsettlements.com/on-wall-street.htm

"The ***Policy Buyers*** - ***Life settlement providers*** are companies -- typically licensed by a state insurance department (though a license is not required in some states) -- that buy policies from policyholders for an immediate cash settlement. Some of the biggest names in the business are Coventry First, of Fort Washington, Penn.; Life Capital, San Diego, Calif.; Life Equity, Hudson, Ohio; Peachtree Life Settlements, Norcross, Ga.; Living Benefits Financial Services, Minnetonka, Minn.; and Stone Street Financial, Bethesda, Md. These firms recently formed the Life Settlement Institute to promote the creation of compliance standards for life settlements."

"Life settlements include "viatical settlements," in which a ***settlement provider*** purchases policies from policyholders who are terminally ill. In recent years, however, relatively healthy policyholders also have been selling their insurance coverage because they no longer need its protection. Rather than paying for unneeded insurance or dropping the policy -- which provides a windfall to the insurer -- the policyholder can sell the policy to a ***life settlement provider***, which assembles pools of policies to serve as collateral for investment products purchased by institutional investors. In effect, these ***life settlement provider companies*** have created a viable ***secondary market*** for insurance."


http://www.nebar.com/pdfs/nelawyer/2004/October/200410b.pdf#...

"The Secondary Market for Life Insurance" (title, p. 1 of PDF)

"Under Nebraska law, ***policy purchasers*** must be properly licensed with the Nebraska Department of Insurance." (p. 5 of PDF)

Steffen Walter
Germany
Local time: 22:11
Native speaker of: Native in GermanGerman
PRO pts in category: 200
Grading comment
Thank you for your helpful answer and for the references!

Peer comments on this answer (and responses from the answerer)
agree  Steven Blanchard
2 hrs
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1 day7 hrs   confidence: Answerer confidence 5/5
Purchasers/investors in the TEP market


Explanation:
I have a proofreading in front of me from possibly the leading investment company handling these policies; the "Zweitmarkt Lebensversicherungen" are "Traded endowment policies" (TEPs).

The "second market" is so patently a translation, that I hope you won't use it....

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Note added at 1 day7 hrs (2006-09-09 17:03:33 GMT)
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Anyway, here are a few sites which should resolve any remaining doubts you may have:

zweitmarktpolicen gebrauchte lv lebensversicherungen second-hand ...... wenn Sie die für sie "richtige" Police gefunden haben. Der TEP-Markt ist äusserst transparent und attraktive Policen wechseln sehr schnell den Inhaber. ...
www.zweitmarkt-policen.de/index_unterschiede.htm

European Policy Exchange -Der Deutsche TEP-Markt - lesen Sie interessante Fakten über den deutschen Zweitmarkt für Lebensversicherungen. Angebotsliste - stöbern Sie durch unsere ...
www.epex-group.com/index.php?pagename=home&language=deu

Der Zweitmarkt für gebrauchte englische/britische ...Der Zweitmarkt für gebrauchte englische/britische Lebensversicherungen.
www.tep-markt.com/modules.php?name=News&file=article&sid=23...



David Moore
Local time: 22:11
Native speaker of: Native in EnglishEnglish
PRO pts in category: 92
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