Two associations move closer together
BVZL and ELSA decide on a mutual affiliate membership
Munich, September 22, 2020 BVZL is now an ‘Honorary Member’ of the London (UK) based European Life Settlement Association (ELSA) and in return is pleased to welcome ELSA as a new supporting member of BVZL. Both associations have been working together very successfully for many years and have jointly organized numerous International Life Settlement Conferences in Munich and London, the most important European industry event for international life insurance secondary and tertiary markets.
“By joining ELSA as an honorary member, we want to underline our long-standing commitment to our partner organization,” says Christian Seidl, Member of the BVZL Executive Board. “In this way, we are moving a little closer together and strengthening our exchange. Chris Wells, Executive Director at ELSA commented: “Our Executive Committee has unanimously voted in favour of BVZL joining the European Life Settlement Association as an honorary member. ELSA looks forward to continued cooperation between the two associations.”
Christian Seidl added ELSA & BVZL have already worked together very well for many years and can now use synergy effects even more than before. “Both associations pursue largely the same goals with regard to a further professionalization of the secondary and tertiary life insurance markets and common best practice standards and promotion of this asset class”, emphasize the two association spokespersons, “BVZL and ELSA want to be a point of contact for European investors in particular, who are increasingly discovering this asset class for themselves, especially in these times.”
BVZL: The companies and service providers associated in the Bundesverband Vermoegensanlagen im Zweitmarkt Lebensversicherungen (BVZL) e. V. (Federal Association of Investments in the Secondary Market for Life Insurance Policies) are active worldwide in secondary markets for life insurance policies. Since its foundation in May 2004, the association, which currently has 16 members, has acted as a uniform representation of interests in economic, legal and political matters. BVZL is in constant dialogue with politicians, opinion leaders, the public and other interest groups in order to actively support the dynamic development of the industry. One important concern is to establish industry standards with regard to transparency and comparability of the various investment segments (British, German and US life insurance policies) and thus to constantly improve the conditions for successful investment in these asset classes, which are to be viewed in a differentiated manner.
ELSA: The European Life Settlement Association (ELSA) was founded in 2009 to set standards for the European life settlement industry. It represents European funding sources, service providers and intermediaries who seek to promote transparency in the life settlement market by providing accurate and authoritative information to investors, regulators and the media.