LHL Strategies, operating as Lighthouse Life, has acquired ClearLife, a UK-based firm with software and consulting operations in both the UK and the US, to strengthen its position in the longevity-risk market.
The acquisition also includes ClearLife’s US subsidiary, ClearLife LLC. The companies did not disclose the financial terms of the transaction.
Lighthouse Life, which provides life insurance policies and services for longevity risk investors, plans to expand ClearLife’s existing capabilities and develop them in new directions.
CEO Michael Freedman stated that integrating ClearLife’s operations will bring significant advantages to Lighthouse Life’s clients.
According to the announcement, the two firms will jointly develop offerings for consumers, as well as for insurance and financial advisers.
ClearLife will broaden its software and consulting services for those involved in the longevity risk sector, including products related to reverse mortgages and structured settlements.
Founded in 2007 by Mark Venn and joined in 2008 by Chris Stuart, ClearLife will retain both founders as directors and officers following the acquisition. All existing ClearLife employees will remain with the company.
