RE: Decided30 Mar 2015 16:11
As far as I remember depending on the value of the first deal or deals ( $30m ) its $300k upfront then $300k paid over 5 years. Chatting to IC and BH at TWs evening its a fairly complex deal totally in the hands of the Canadian company which has a patented algorithm for buying these life policies. Inc will run them and reinsure them with Lloyds (£500m cover already in place) then issue AA rated bonds to pay the investor back. He did say the Canadian side was slow. This is a total punt on the Canadians marketing their wares but if it comes off the longer term benefit for Inc will be substantial considering their present market cap. The Canadian company want to float when they are up and running and Inc already have an 18% stake in them, could be worth many times the present MCap but a very patient punt all the same.