LONDON--(BUSINESS WIRE)--Coventry announced today that Coventry Capital Ltd. has received authorisation from the Financial Services Authority (FSA) to advise and arrange transactions on behalf of UK institutions.

This authorisation, and the company’s exercise of its passport right to provide similar services across the EEA, opens the door for institutions throughout Europe to access the US longevity markets by investing in 'physical' life insurance policies, known as life settlements, as well as structured notes or certificates and derivative transactions such as total return swaps.

“We are pleased to extend Coventry’s capital markets platform to Europe,” said Reid Buerger, Executive Vice President of Coventry. “Investors globally are seeking to increase their allocations to alternatives and our integrated platform provides unparalleled access to the low volatility and largely uncorrelated performance of this asset class.”

Coventry, which pioneered the model for large-scale institutional investment in life settlements, has structured, serviced and originated in excess of $30 billion in longevity-linked transactions to date.

“Coventry is the only player in this space that has the expertise and infrastructure to both originate longevity risk and to structure and service longevity transactions in-house, delivering greater efficiency and transparency for counterparties,” said Michael Crane, Managing Director of Coventry Capital Ltd.

As part of the expansion, Coventry has assembled an international team of top capital markets professionals who are based in the company’s offices in Philadelphia, London and Hong Kong. These moves have positioned Coventry to engage with institutions throughout the world’s major financial markets.

About Coventry Capital

Coventry Capital is leading the development of the US longevity market by offering investor and fund services to a wide range of institutions that includes pensions, endowments, insurers and funds. The firm, which is headquartered in Philadelphia and maintains offices in London and Hong Kong, operates throughout major financial centers worldwide.

The content of this press release has been approved for communication in the United Kingdom by Coventry Capital Limited, which is authorised and regulated by the Financial Services Authority.