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.

  • 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

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

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.