Lighthouse Life Announces Acquisition of ClearLife Software, Consultancy
LHL Strategies Inc. – the parent company of Lighthouse Life Capital LLC, a vertically integrated provider of life policies and life policy services to longevity-risk asset managers and investors – announced the acquisition of U.K.-based ClearLife Limited and its U.S. subsidiary, ClearLife LLC. ClearLife specializes in software solutions and consultancy services tailored for the life insurance and longevity sectors.
The terms of the transaction were not disclosed.
“Lighthouse Life’s acquisition of ClearLife fuels its growth as a technology leader and market-maker for longevity-risk asset investors,” said Michael Freedman, chief executive officer of Lighthouse Life. “We are committed to building ClearLife’s capabilities and extending them in new directions. Lighthouse Life’s clients will see substantial benefits from integration between the Lighthouse Life and ClearLife platforms.”
ClearLife, founded in 2007 by Mark Venn, who was joined by Chris Stuart in 2008, is a popular platform for longevity-risk market participants to value, trade, and service life insurance products. ClearLife’s flagship software product, ClariNet, is a web-based, flexible, SaaS platform that streamlines operations and enhances decision-making related to life policies and portfolios.
ClearLife also provides bespoke software and consultancy services for asset managers and other financial services companies in the life insurance and longevity risk markets.
ClearLife will be adding to its suite of software and consulting services for longevity-risk market participants, including reverse mortgages and structured settlements.
The companies reported that they will collaborate to provide products and services for consumers of life insurance products as well as for insurance and financial advisers.
“We are thrilled to join forces with Lighthouse Life,” said Venn. “Lighthouse will help us to serve new markets for longevity-linked investors, life policy consumers, and insurance professionals. We also anticipate building substantial enhancements to our core platform that will benefit all our current clients. This is a win-win, for ClearLife, for Lighthouse Life, and most importantly, for our clients who will benefit from our partnership to help them grow their own businesses.”
Venn and Stuart will remain as officers and directors of ClearLife. According to Lighthouse Life, all employees of ClearLife are being retained.
According to past reporting by AltsWire, Lighthouse Life Capital LLC announced the launch of its Lighthouse Life Beacon Bonds offering in May of this year. The company is offering up to $50 million in beacon bonds pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended. The offering is available to accredited investors through participating independent broker-dealers and registered investment advisers with a minimum investment of $10,000.
Lighthouse stated that the five-year Class C and CR beacon bonds are expected to provide annual interest yields of 11% and 11.5% for fee-based transactions, respectively, with monthly payments to investors. The three-year Class D and DR beacon bonds are expected to provide annual yields of 9% and 9.5% for fee-based transactions, respectively, with monthly distributions.
LHL Strategies is the parent company of ClearLife Limited and its subsidiary, ClearLife, and Lighthouse Life Capital and its subsidiaries, Lighthouse Life Solutions LLC, Lighthouse Life Direct LLC, Harbor Life Settlements LLC, Settlement Benefit Holdings LLC. The company aims to deliver fast, efficient, and transparent life settlement transactions, and provides full lifecycle life policy services to asset investors worldwide.
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