Coventry’s LILY Programme Reaches US$1 Bln In Life Insurance-Backed Financing

KUALA LUMPUR, Aug 26 (Bernama) -- Coventry has announced the successful completion of its fourth asset-backed securitisation since April 2025 under its LILY programme, bringing total life insurance-backed financing across the platform to US$1 billion. (US$1=RM4.03)

In a statement, the company said the milestone reflects continued investor demand for longevity-linked assets and LILY’s growing role as a platform for accessing life insurance-backed investments through the asset-backed securities market.

Coventry Chief Executive Officer, Reid Buerger said reaching the US$1 billion mark is a significant milestone for the LILY programme and the institutional market for life insurance-backed assets.

He said the milestone reflects growing investor recognition of the value of longevity-linked assets and the benefits of accessing them through a disciplined, repeatable securitisation platform such as LILY.

Since its launch in 2025, the LILY programme has demonstrated its ability to access institutional capital by structuring longevity-linked assets into investment-grade asset-backed securities that emphasise durable collateral, predictable cash flows and low correlation with traditional markets.

The programme combines Coventry’s origination capabilities, actuarial expertise, servicing infrastructure and transaction structuring experience to provide investors with access to a specialised asset class through a familiar ABS format.

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

As institutional investors continue to seek differentiated sources of return and portfolio diversification, Coventry expects life insurance-backed financing to play an increasingly important role in supporting the responsible expansion of the longevity-linked asset market.

-- BERNAMA