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October 07, 2013

JG Wentworth IPO Filed 10/3/2013 | Overview of Structured Settlement industry

by John Darer® CLU ChFC MSSC RSP CLTC

 

  JG Wentworth estimates that since 1975 over $350 billion in undiscounted structured settlement payment streams have been issued in the United States. Of these structured settlement payment streams, JG Wentworth estimates that at least $140 billion are currently outstanding of which approximately $130 billion remain available for purchase.

 

JG Wentworth estimates that approximately 25% of all structured settlements have a life contingent component. Life contingent structured settlements are similar to guaranteed structured settlements, however, unlike guaranteed structured settlements, which pay out until maturity regardless of the status of the beneficiary, life contingent structured settlement payments cease upon death of the beneficiary. 

 

Source:  Form S-1 JGWPT Holdings October 3, 2013

 

Each purchased structured settlement payment stream requires local court approval by a judge, who must rule that the transfer of the structured settlement payments and its terms are in the best interests of the payee, taking into account the welfare of the payee and the payee’s dependents.

 

 Based on information contained in its pre-packaged bankruptcy filing in May 2009, it was estimated that less than 10% of structured settlements are sold.

 

JGWPT Holdings and its subsidiaries purportedly control greater than 75% of the structured settlement secondary market.

 

To be continued...

Posted at 11:37 AM in J.G. Wentworth, Secondary Market Annuities | Not Annuities | Don't Be Fooled, Secondary Market For Structured Settlement Payment Rights, Secondary Market Structured Settlements, Structured Settlement Factoring News, Structured Settlement Industry News |

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