Stockholm (HedgeNordic) – Hanna Persson of Ress Capital has been appointed to the Executive Board of the European Life Settlement Association (ELSA). This appointment, alongside two other industry professionals, is set to take effect from January 2024.
ELSA was founded in 2009 with the primary objective of setting standards for participants in the European life settlement industry. Ress Capital, the asset manager where Persson has been serving as Head of Sales and Investor Relations since the beginning of 2023, operates an alternative investment fund, Ress Life Investments, specialized in investing in U.S. life insurance policies.
Hanna Persson, Chris Conway of ISC Services and Jule Rousseau of ArentFox Schiff were elected as members of ELSA’s Executive Board during its Annual General Meeting held on September 11. Their terms will commence at the beginning of 2024. “We are delighted to welcome Chris, Hanna, and Jule to our Executive Board,” comments Chris Wells, Executive Director of ELSA. “Their extensive expertise and dedication to our industry will undoubtedly strengthen ELSA’s position as a leading voice in the European life settlement sector. We eagerly anticipate their contributions.”
“I am eager to collaborate with fellow board members to further the organization’s commitment to ethical practices and advocate for the continued growth of the European life settlement market.”
“Joining the ELSA Executive Board is an exciting endeavor,” Hanna Persson comments on her appointment to ELSA’s Executive Board. “I am eager to collaborate with fellow board members to further the organization’s commitment to ethical practices and advocate for the continued growth of the European life settlement market.” Hanna Persson joined Ress Capital in early 2023 to focus on increasing awareness of the attractive characteristics of life insurance investments and expanding the reach of Ress Life Investments to a wider investor audience.
Ress Life Investments operates as an alternative investment fund investing in life settlements, which involves the purchase of life insurance policies from policy owners who no longer require or desire their policies, in exchange for one-time payments. The fund delivered a return of 8.5 percent in 2022, marking its second-best annual performance since launching in 2011. Ress Life Investments has achieved an annualized return of 6.3 percent in U.S. dollars despite experiencing a quieter 2023 in terms of policy payouts. The number of policy payouts during the first eight months of the year was below expected levels, reflecting the stochastic and uncorrelated nature of the return stream from its life insurance portfolio.
