Coventry Launches Successful LILY Program for Life Insurance Securities
Coventry, based in Fort Washington, Pennsylvania, has successfully completed its third asset-backed securitization under the LILY program since April 2025. This strategic initiative has collectively raised $750 million, underscoring Coventry's leadership in offering institutional investors opportunities to access life insurance-backed securities.
LILY Program Overview
The LILY program is designed to convert longevity-linked life insurance assets into investment-grade securities. These securities are known for their stable collateral, predictable returns, and low correlation with traditional market investments. The program includes comprehensive underwriting, actuarial analysis, and structural safeguards to create a specialized asset class within the asset-backed securities (ABS) framework.
Reid Buerger, CEO of Coventry, emphasized the LILY program's achievement in establishing a reliable issuance platform for life insurance-linked assets. "This evolution reflects years of developing origination scale, analytics, servicing capabilities, and structural rigor necessary for sustained securitization activity," stated Buerger, highlighting the platform's development over several years.
Coventry's Strategic Role
The LILY program's accomplishments showcase Coventry’s essential role in bridging life insurance, asset-backed finance, and private credit sectors. With increasing investor demand for non-traditional and high-quality assets, LILY is set to contribute significantly to the structured growth of the life insurance-backed asset market.
Renowned for pioneering the secondary market for life insurance, Coventry operates across various sectors, including longevity lending, life insurance and annuity distribution, and insurance technology. The organization aims to streamline financial solutions for policyowners, optimize risk management, and enhance operational efficiency through technological innovation within the life insurance industry.
Throughout its operations, Coventry has acquired over 21,000 life insurance policies and facilitated transactions exceeding $50 billion, providing substantial financial benefits to policyholders and originating over $1 billion in life insurance-linked loans. Additional information about Coventry can be accessed via their official website, Coventry.com.