Steve Lay

Kirkland, WA (USA)
Role(s):
Founder/Owner/Principal

Priority Life Holdings, INC

Find More Startups Startup
Location: Kirkland
Industry: Investing
Year Founded: 2010
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: Priority Holdings, Incorporated (“PHI” or the “Company”)is a holding company and parent company to Priority Life Settlements, LLC (“Priority Life”), LPM Investments, LLC (LPM) and Longevity Insight Services, LLC. Priority Holdings was established for the purpose of giving equity partners the ability to participate in long term cash flows from the maturation of assets in addition to profits generated from the acquisition process of the same assets. Priority Holdings derives the majority of its income from Priority Life Settlements, LLC; a financial services entity in the life settlement space. Priority Life generates revenue for Priority Holdings by underwriting, acquiring and managing specific life settlement policies designed to provide long term cash flows in addition to up front revenue streams. PHI is seeking to raise $12.5 MM USD in its first round of capital contributions with the objective of acquiring approximately 300 convertible term life insurance policies currently available in the secondary market for life insurance. Priority Life has already begun identifying policies that meet acquisition eligibility criteria specifically for this round of financing. The approximate face value for this amount of policies is $150,000,000.00. With a buy and hold strategy, the portfolio will be cash flow positive entering the fourth year and is scheduled to provide annual cash flows ranging from $1,000,000 to $4,700,000 per year for the following thirty years. The assets within the portfolio are purchased to produce a minimum unlevered gross portfolio IRR of 15.5%, however, with the implementation of PHI’s business plan, equity partners in this first round of financing are projected to receive an approximate IRR of 28.9% without including profit projects from Longevity Insight Services, LLC.