FORT WASHINGTON, PA — Coventry has secured representation on the European Life Settlement Association’s Executive Committee following the election of senior executive Neal Jacobs, extending the Fort Washington company’s involvement in industry standards and institutional investor engagement across the life settlement market.
Jacobs, Coventry’s senior managing director of capital markets, was elected September 15 during the association’s annual general meeting. He is one of four new members joining the nine-member committee.
The European Life Settlement Association, known as ELSA, represents participants in Europe’s life settlement market and works to promote transparency, industry standards and investor understanding of life insurance-backed assets.
Life settlements involve the sale of existing life insurance policies to third-party investors, providing policyholders with an alternative to surrendering or allowing their coverage to lapse. Investors acquire the policies and assume responsibility for future premiums in exchange for the eventual death benefits.
Jacobs has spent more than two decades at Coventry, which operates in the secondary market for life insurance policies.
His appointment maintains the company’s participation in ELSA’s leadership as the association works to develop market standards and increase institutional investor familiarity with life settlements.
“Building a stronger life settlement market requires collaboration across our industry,” Jacobs said. “I look forward to supporting ELSA’s work to broaden investor understanding, strengthen market standards, and expand opportunities for the policyowners and investors our industry serves.”
Jacobs also serves as a director of the U.S.-based Life Insurance Settlement Association, or LISA, where he previously held the positions of board chair and vice chair.
He is the organization’s immediate past board chair and will continue serving on its board for the remainder of his term.
The overlapping leadership positions give Jacobs a role in industry organizations operating in both the U.S. and European life settlement markets, where market practices and investor participation remain central areas of focus.
Coventry specializes in life settlements and life insurance-backed assets, serving policyholders and investors in the secondary market for life insurance.
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