Coventry Completes US$750 Mln In Life Insurance-Backed Deal Under LILY Programme

KUALA LUMPUR, Jan 28 (Bernama) -- Coventry, the leader and creator of the secondary market for life insurance, has completed its third asset-backed securitisation since April 2025 under its LILY programme.

The transactions collectively total US$750 million in life insurance-backed financing and further position Coventry as a platform for institutional investors seeking differentiated exposure to longevity-linked assets. (US$1=RM3.94)

Coventry Chief Executive Officer, Reid Buerger said the significance of the LILY programme lies in the establishment of a repeatable, institutional-quality issuance platform rather than any single transaction.

“That evolution reflects years of building the origination scale, analytics, servicing capabilities and structural rigour required to support sustained securitisation activity,” he said in a statement.

The LILY programme structures longevity-linked assets into investment-grade asset-backed securities (ABS), emphasising durable collateral, predictable cash flows and characteristics that are largely uncorrelated with traditional markets.

By combining disciplined underwriting, actuarial analytics and robust structural protections, the programme provides investors access to a specialised asset class through a familiar ABS format.

The continued growth of the LILY programme underscores its position at the intersection of life insurance, asset-backed finance and private credit.

Coventry expects the programme to play a central role in funding the expansion of the life insurance-backed asset class as demand for high-quality, uncorrelated assets continues to rise.

-- BERNAMA