Princeton, N.J.-based HMH Consulting reviewed 14,528 of Midwest’s estimates from 2004 to 2009, the draft report says. There were 1,395 observed deaths compared to 3,319 actuarially expected deaths, it said.

The audit of Hamilton, Ohio-based Midwest, written by actuarial firm HMH Consulting, was submitted as evidence by the Texas State Security Board’s enforcement division in an administrative hearing June 2 in the case of AGAP Life Offerings. Plano, Texas-based AGAP is accused by Texas regulators of selling unregistered securities, failing to register as a securities dealer, and misleading investors. The enforcement division provided a copy of Midwest Medical’s audit to The Life Settlements Wire.

Midwest’s life expectancy estimates have been criticized as being misleading and inaccurate by state and federal regulators in accusations against life settlement investment companies that have used them. Although the Texas State Securities Board did not mention Midwest in the AGAP order, the Texas Department of Insurance has issued an emergency cease-and-desist order against Midwest in relation to another life settlement investment firm, Retirement Value.

Source: Life Settlements Wire – Read Full Article

Here is a sample of a Midwest Life Expectancy Certificate…

Here are some upcoming events for the Life Settlement Awareness Month.

• June 8 – Qualified Participants Only Part 1 – Current Opportunities and State of the Market
• June 16 – Broker Panel: Understanding Providers and Brokers
• June 22 – The Life Settlement Marketplace – Regulatory Climate; Market Trends
• June 24 – Qualified Participants Only Part 2 – Portfolios, Securitization, Settlement Allocation impact on overall Portfolios

Previous events include:

• June 1 – Fundamentals of Life Settlements
• June 3 – Advanced Strategies and Case Studies

I am pretty sure these past events will be available in some type of media forum.

Events are open to financial and insurance professionals, and qualified institutional participants of all experience levels. To register, visit the events page of www.lifesettlementawarenessmonth.com, or contact Angie Robert at arobert@lifefirms.com.

J.P. Morgan is getting out of the life settlement market, a person familiar with the company said.

The person told The Life Settlements Wire that J.P. Morgan expects to wind down its operation over the next few months.

J.P. Morgan is the second major investment bank to exit the market in recent months. Goldman Sachs said it was leaving the market in January, disappointed in its lack of growth.

J.P. Morgan had entered the business around 2007. It had a smaller operation than its competitors, employing fewer than 10 people in its life finance business, the person familiar with the company said.

Rob Finfer, chief executive of Bethesda, Md.-based life settlement broker Integrity Capital Partners said he hasn’t seen J.P. Morgan purchasing policies for at least a year.

Source: Life Settlement Wire