Resscapital AB’s focus is to create attractive and predictable long-term returns for our clients. Sustainability is an integral part of how we operate. Our clients should feel confident that we prioritise sustainability in our daily activities and that we strive to improve our sustainability efforts. Being an alternative investment manager (AIFM) active in the secondary market for US life insurance policies, ethics is the key aspect of sustainability.
Resscapital manages a portfolio of US life insurance policies. Life insurance policies are purchased from US households who no longer need life insurance coverage. Resscapital therefore enables individual households to receive compensation for an unneeded insurance policy, for which premiums have been paid during many years.
The secondary market for US life insurance policies is regulated in 45 states. The legislation regulating the market is there to safeguard the individual policyholder’s, i.e. the consumer’s interest.
When Resscapital purchases life insurance policies, the company uses intermediaries / brokers who facilitate the sale of life insurance policies from policyholders to financial investors. Resscapital only transacts with brokers who are registered and authorized by each states’ insurance inspection.
In order to enable the individual household to make an informed decision, it is important that the sales process is transparent. Therefore, brokerage fees must be reported in a clear and transparent manner to the seller/consumer. In addition, the consumer must receive information about the possible repurchase price that the life insurance company is willing to pay for the insurance policy.
For most life insurance policies, it is usually the policyholder’s spouse or children who are beneficiaries. It is a requirement that these beneficiaries consent in writing to the sale of the life insurance policy. In addition, the policyholder must certify that he, or she, makes a conscious choice to sell the life insurance policy. The legislation aims to protect the consumer’s freedom of choice and ensure that the sales process is transparent and correct.
Resscapital, as a manager of a portfolio of life insurance policies, will also receive personal data and health information about the individual policyholders. For Resscapital, it is imperative that this information is treated in a confidential manner and with outmost respect for the integrity of each individual. All personal data is stored on protected servers and no documents containing any personal data are stored in paper format.
As an essential part of our commitment to sustainability, Resscapital has signed the United Nations Principles of Responsible Investment (UNPRI). More information about UNPRI’s six principles can be found on the organisation’s website
. The principles briefly state the following:
- We will incorporate Environmental, Social and Governance (ESG) issues into investment analysis and decision-making processes.
- We will be active owners and incorporate ESG issues into our ownership policies and practices.
- We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- We will promote acceptance and implementation of the Principles within the investment industry.
- We will work together to enhance our effectiveness in implementing the Principles.
- We will each report on our activities and progress towards implementing the Principles.
In Resscapital’s internal business activities, we also want to contribute to a more sustainable society. We strive to reduce our energy consumption by choosing climate-smart travel and prioritising telephone conferences whenever possible. In addition, we sort our office waste in order to recycle it efficiently.