Senior life settlement Company Crown Alliance Capital has announced the completion of the purchase of another $1m senior life policy.
Crown Alliance Capital CEO and president Lorraine Fusco said, "We are excited to add this new policy to our existing portfolio, and look forward to further growth as good quality policies are available and financing permits."
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Crown Alliance was formed in March 2010 with an aim to acquire senior life settlement plans. The company targets and acquires primarily universal life insurance policies that are no longer preferred by individuals, in order to build a portfolio of policies that meet a rigid selection process.
On 4 November, Crown Alliance Capital completed the purchase of the last of the four policies under its Policy Purchase Agreement with Universal Settlements International.
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