Trepp to Manage Commercial Mortgage Loan Insurance Index LifeComps
Trepp, New York, announced it will start managing LifeComps, the life insurance commercial mortgage whole loan index.
LifeComps serves as a benchmark for privately held commercial real estate mortgages.
Going forward, Trepp will generate the quarterly LifeComps Index, all underlying reports, and analytics for each of the life insurance industry participants.
Current LifeComps participants represent nearly one-third of the life insurance commercial mortgage market with more than $144 billion principal balance as of June 2019. The index publishes quarterly returns and cash yields for the commercial mortgage portfolios owned by the participating members including Allstate Life Insurance Co., CIGNA Investment Management, AXA Equitable, John Hancock, Northwestern Mutual, Principal Financial and Prudential Insurance Co. of America.
Greystone Acquires C-III Asset Management
Greystone, New York, expanded into special servicing by acquiring Dallas-based C-III Asset Management LLC, previously a wholly owned subsidiary of C-III Capital Partners LLC.
C-III Asset Management has a $20.7 billion servicing portfolio.
Greystone Managing Director Paul Smyth, who joined the firm in September, will lead the new special servicing group. Smyth previously served as President of C3AM in a prior role before joining Credit Suisse in New York for several years.
Marsh Enhances ZMAX Commercial Real Estate Insurance Program
Insurance broker and risk adviser Marsh, New York, announced several improvements to its ZMAX commercial real estate insurance program, including cyber liability.
Underwritten by Zurich North America, the ZMAX program helps midsize U.S. commercial real estate firms minimize potential coverage gaps and cut costs and administrative efficiencies. All coverage lines are available with separate limits so claims in one line do not erode coverage in others. ZMAX Plus also minimizes the potential for coverage gaps, which can occur when purchasing multiple policies from different carriers.