Life Settlement leader boasts large profits

Thursday, October 02, 2008


MIAMI, Oct 02, 2008 (BUSINESS WIRE) -- Life-Exchange, Inc., the nation's leading online business-to-business exchange for the life settlement industry, announced today its financial results for the fiscal year ended June 30, 2008 with revenue of $1,294,596 and a net income of $332,128 for the same 12 month period.

"We are proud to complete our first profitable year. I believe the fact that we have reached profitability just two short years since our launch in 2006, is a true testament to the services that we offer and to the value we bring to our customers and the secondary life settlement market," commented David C. Dorr, Life-Exchange's Chief Executive Officer and President.

"This past year has been heavily focused on building the foundation for growing our business. As credit and equity markets continue to destabilize we believe the life settlement market will continue to flourish as consumers sell unneeded insurance policies to raise cash and as investors seek safe havens in non-corollary assets. Moving forward, we believe the coming year will bring Life-Exchange significant opportunities to grow our profits," added Mr. Dorr.

This is a good sign for consumers looking towards Life Settlements as a solution for their unneeded or unwanted life insurance policy, that has become obsolete or has become a financial burden.

--To read the rest of this article click HERE