trending Market Intelligence /marketintelligence/en/news-insights/trending/tGAbp2iivomUPYlohqMOsA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Emergent Capital, Sun Life settle lawsuit over life policies

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks

Emergent Capital, Sun Life settle lawsuit over life policies

Emergent Capital Inc. and Sun Life Assurance Co. of Canada have settled a longstanding lawsuit.

Under the settlement, 30 life insurance policies issued by Sun Life and held by Emergent Capital and certain subsidiaries, primarily by White Eagle Asset Portfolio LP, were canceled in exchange for a lump sum payment from Sun Life of $36.1 million.

Sun Life also agreed not to challenge the validity of or to seek to deny coverage, other than for nonpayment of premiums, for certain life insurance policies issued by it and held by White Eagle that were specifically excluded from the settlement or have already matured. The parties have released all claims against each other.

To implement the settlement, a portion of the proceeds was used to repurchase the policies from White Eagle.

Sun Life Assurance had sued Imperial Holdings Inc. and others in 2013, accusing Imperial of devising "a scheme to manufacture and then acquire life insurance policies." Sun Life Assurance also claimed that the scheme disregarded its ban on using life insurance as a wagering contract and that Imperial committed fraud in the application process.

Sun Life did not immediately respond to a request for comment from S&P Global Market Intelligence.