June 23, 2017 3:58 PM ET

Insurance

Company Overview of Magna Life Settlements, Inc.

Company Overview

Magna Life Settlements, Inc. provides life insurance settlement services in the United States. It works with life settlement brokers, life insurance agents, and institutional investors to provide competitive life settlement transactions. Magna Life Settlements, Inc. was formerly known as Magna Administrative Services, Inc. and changed its name in May 2007. The company was incorporated in 1988 and is based in Coral Gables, Florida. As of January 15, 2010, Magna Life Settlements, Inc. operates as a subsidiary of Vida Capital Inc.

1320 South Dixie Highway

Suite 600

Coral Gables, FL 33146

United States

Founded in 1988

Phone:

305-668-5100

Fax:

305-668-5105

Key Executives for Magna Life Settlements, Inc.

President
Compensation as of Fiscal Year 2016.

Magna Life Settlements, Inc. Key Developments

Florida Insurance Regulator Fines Magna $10,000 for Failing to Report Ownership Change Sooner

The Florida insurance regulator has fined Magna Life Settlements Inc. $10,000 for failing to notify the agency of a change in ownership in a timely manner. Harald McPike, owner of JTC Longevity Holdings Ltd. of the British Virgin Islands, bought 40% of Vida Capital Inc., which owns Magna. Vida and Magna, which is licensed to buy policies in Florida. Vida representatives didn't tell the state about the transaction when it should have done so, according to a July 21 consent order issued by the Florida Office of Insurance Regulation. The transaction was completed Nov. 20, but wasn't reported to the state until Feb. 7. The Securities and Exchange Commission also requires investor approval for a transaction if a fund manager sells more than 25% of its company. He said the company received investor approval for the sale. Any time more than 10% of a life settlement provider licensed in Florida changes hands, the company must notify the state within five days after any offer is proposed or within five days after acquisition if no tender offer is made. The office approved the agreement for JTC Longevity to indirectly acquire 40% of the ownership of Magna.

Magna Life Settlements, Inc. Presents at 2016 Illiquid Financial Assets Conference, Mar-10-2016 11:45 AM

Magna Life Settlements, Inc. Presents at 2016 Illiquid Financial Assets Conference, Mar-10-2016 11:45 AM. Venue: Waldorf Astoria, New York, New York, United States. Speakers: Dan Young, President.

Magna Life Settlements, Inc. Presents at 6th Annual Institutional Investor Life Settlement Conference, Feb-22-2016

Magna Life Settlements, Inc. Presents at 6th Annual Institutional Investor Life Settlement Conference, Feb-22-2016 . Venue: The Ritz-Carlton Battery Park, New York, United States. Speakers: Dan Young, President.

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