Crown Life Canada Ltd. was formed on May 8, 2014, and is led by Lorraine Fusco, our current President & CEO. We are very excited about our future and the further acquisition of this solid, alternative asset class. We maintain the policies until maturity and offer a secure vehicle with solid returns. We have an experienced management team and our assets are backed with investment grade insurance companies.
Life settlements offer the potential for a higher rate of return with lower risk than traditional investment products. We currently have under management a portfolio with a face value of approximately US$101 Million. Crown Life Canada will continue to acquire senior life settlement policies and will eventually build this portfolio of policies to over $750 million in the next 5 years. With what we believe to be the correct business model and an experienced management team, we believe we will be able to accumulate a portfolio of quality policies that will generate a steady, stable and profitable return.