REG - Life Settlement - Portfolio Update

Life Settlement AssetsAnnouncement

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RNS Number : 7585V  Life Settlement Assets PLC  09 March 2026

LIFE SETTLEMENT ASSETS PLC

 

PORTFOLIO VALUATION UPDATE

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Life Settlement Assets PLC

(the "Company" or "LSA")

 

Portfolio valuation update and declaration of Special Dividend

 

LSA, a closed-ended investment trust company which invests in, and manages,
portfolios of whole interests in life settlement policies issued by life
insurance companies operating predominantly in the United States, is pleased
to announce an update in the NAV of the Company and the declaration of a
special dividend.

 

The Board wishes to draw shareholders' attention to an emerging trend in the
HIV policy segment of the portfolio, where observed mortalities of elderly HIV
insureds have consistently been exceeding previously modelled outcomes.
Following the annual independent actuarial valuation by Lewis & Ellis, and
in discussion with its Investment Manager, the Board has approved a
recommendation to update the long-term assumptions in the valuation model to
better reflect these observed mortalities. This has resulted in an uplift in
the portfolio valuation of about USD 8 million compared to the November 2025
NAV. This amount will be included in the year end portfolio valuation of USD
72.0 million as at 31 December 2025 as computed by Lewis & Ellis.

 

This announcement does not constitute or describe an updated NAV of the
Company. The unaudited NAV as at 31 December 2025 will be released immediately
following this announcement.

 

As a result of updating the assumptions the forecast cashflows expected from
the portfolio are better than previously forecast, which in turn allows the
Company to reduce the level of cash reserves it has built up. Accordingly, the
Company is able to declare a special dividend of 6.7960 US cents per share,
totalling USD 3 million, which will be paid on 14 April 2026 to Shareholders
on the register as at 20 March 2026. Further, the Board expects to recommence
the repurchase of the Company's shares, subject to price.

 

Michael Baines, Chairman, commented:

"This is positive news for the Company. The updated valuation provided by
independent actuaries reinforces the Board's confidence in its valuation
methodology. This has allowed us to be more optimistic about the future
performance of the portfolio.  We are delighted to be able to return cash to
shareholders through special dividends and share buybacks."

 

For further information contact:

 

Acheron Capital Limited (Investment Manager)

Jean-Michel Paul

020 7258 5990

 

Cavendish Capital Markets Limited (Corporate Broker)

Robert Peel / Andrew Worne

020 7908 6000

 

ISCA Administration Services Limited

Company Secretary

Tel: 01392 487056

 

DISCLAIMER

Neither the contents of the Company's website nor the contents of any website
accessible from hyperlinks on the Company's website (or any other website) is
incorporated into, or forms part of, this announcement.

 

INSIDE INFORMATION

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 ("EU MAR") as it forms part of the law of England and Wales
by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR"). This
Announcement has been authorised for release by the Board of Directors of the
Company.

 

Notes to Editors

Life Settlement Assets PLC is a closed-ended investment trust company which
invests in, and manages, portfolios of whole interests in life settlement
policies issued by life insurance companies operating predominantly in the
United States. The Company seeks to generate long-term returns for investors
by investing in the life settlement market. The Company aims to manage its
investment in portfolios of life settlement products so that the realised
value of the policy maturities exceeds the aggregate cost of acquiring the
policies, ongoing premiums, management fees and other operational costs.

 

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