Mission
Longevity Specialty Finance (LSF) was formed in 2014 to provide longevity predictive pricing and valuation services to private and institutional firms originating, securitizing and managing Level-3 assets and liabilities. Level-3 assets and liabilities are unique because their value is dependent upon an ‘unknowable’ event – usually the death of the insured, homeowner or pensioner. LSF’s mission is to use proprietary methodologies to help client’s save money by better predicting morbidity and mortality.
LSF principals developed a peer reviewed proven Bayesian Inference model that incorporates the Longevity Cost Calculator (LCC). The LCC allows the prediction of the trajectory of morbidity and mortality at the single individual level. Using this tool clients save money by more accurately pricing and valuing products and services directed to seniors, age 65 and older.
GAAP accounting requires that longevity dependent assets be Marked-to-Fair Value using a statistically reliable methodology that can be repeatedly applied to the same data set. The LCC, when incorporated into such as methodology, is the only peer reviewed published tool available. Without such a methodology, assets must be priced at a significant discount to cost.
On December 3, 2020, the Securities and Exchange Commission (SEC) issued Rule 2a-5, making it clear that the only acceptable valuation methodology for Level 3 assets and liabilities is the discounted net present value of predictable future portfolio cash flows. Rule 2a-5 instructs Boards to hire third party valuation services.
Our Team
LSF’s management team has over 125 years of longevity dependent product experience as CPAs, actuaries and longevity underwriters.
Peter M. Mazonas, CPA, CGMA, MBA
Chief Executive Officer
2017 – Present: Mazonas founded NatEquity, a home equity sharing reverse mortgage program for seniors. NatEquity’s initial product is similar to successful products designed by Mazonas and his team at Transamerica HomeFirst.
2010 – Present: Mazonas provided product design consulting and valuation services for Level 3 mortality dependent products ranging from reverse mortgages, derivatives and insurance based products.
2006 – 2007: Before co-founding LSF Mazonas acted as interim COO/CFO of Archimedes Inc., an evidence-based quantitative pharmaco/economic model for predictive analysis of new drugs and patient therapies for big pharma, national therapy advocacy associations and large Fortune 500 companies. Archimedes is owned by Kaiser Permanente.
2005 – 2006: Mazonas was Director of Corporate Governance and Sarbanes Oxley compliance for $265 billion McKesson Corp.
2004 – 2005: Mazonas managed the first year Sarbanes-Oxley compliance program for biotech company, Invitrogen.
2000 – 2007: Mazonas was the unnamed lead defendant in litigation against Aegon, Transamerica and MetLife.
1989 – 2000: Mazonas was co-founder, president and CEO of Transamerica HomeFirst, a market leader reverse mortgage lender. Mazonas created the first patented lifetime reverse mortgage products and developed the methods to securitize reverse mortgages as the first longevity valued asset class.
1980 – 1989: Mazonas was a management consultant at Thomas Paine & Associates, specializing in process engineering and financial products design for Fortune 100 financial service companies.
1972 -1980: Mazonas created and managed the Executive Financial Counseling (EFC) and later Private Banking Division at Bank of America which specialized in financial planning, wealth management, credit and transaction structuring for senior corporate executives and affluent families.
1967 – 1972: After graduate school, Mazonas started his business career at Price Waterhouse & Co.
Peter J. DeRooy, CPA
Chief Operating Officer Designate
Professional Experience
2010 – 2013 Chief Financial Officer, a subsidiary of Kohlberg & Co, managing a $1.6 billion life settlement portfolio purchased from JP Morgan Chase.
2009 – 2010 Consultant to Life Settlement Financial, LLC, designing and implementing settlement policy analysis metrics.
2001 – 2009 Chief Financial and Chief Operating Officer of Life Equity LLC, a leading life settlement provider. Life Equity sourced, underwrote and serviced over $2.5 billion of life settlement policies for major institutional funders.
2000 – 2001 Controller, Flight Operations International, Inc.
1993 – 2000 Director of Accounting, Cole International Corp.
1990 – 1993 Treasurer and Chief Financial Officer, Phonetel Technologies, Inc. a public telecommunications company.
1986 – 1990 Manager, accounting and auditing Laventhol & Horwath, CPAs
1981 – 1986 Supervising Senior, Audit Department, Peat, Marwick, Mitchell & Co, CPAs
Education / Certification / Professional Memberships
Eric Ranson, FIAA
Portfolio Manager
Professional Experience
2017- Present Co-founder and Portfolio Manager, NatEquity, Inc.
2012-Present Portfolio Manager and Chief Actuary, Longevity Specialty Finance.
2008– 2012 Chief Underwriter and Portfolio Manager, ARM, a Catalyst
Company (UK) Eric underwrote and manages a $800 million life settlement fund traded on the Luxemburg Exchange.
2008 Director of Underwriting and Portfolio Management, Life Policies of America, LLC, a San Francisco life settlement fund
2003 – 2008 Actuarial Consultant, Carroll and Ranson
1997 – 2003 Treasurer, Australian Mortgage Securities Association, $A and $NZ 6 billion of mortgage backed securities.
1993 – 1997 Managing Director, Swaps and Options, Bankers Trust. Help establish an Australian commercial paper conduit with over $A 10 billion of assets.
1987 – 1993 Consultant, Tillinghast
1980 – 1987 Actuary, Swiss Re Education / Certification / Professional Memberships
University of New South Wales, Sydney, BA & MS in Applied Finance
Fellow of the Institute of Actuaries of Australia
Longevity Specialty Finance 