BALTIMORE, Oct. 25 /PRNewswire/ -- Former Maryland Insurance Commissioner R. Steven Orr was named president of Life Settlement Providers, LLC, a Maryland-licensed life settlement provider and a leader in the secondary market for life insurance policies. Mr. Orr will be responsible for overseeing Life Settlement Providers' marketing, regulatory, and legislative activities beginning Dec. 1.

"The addition of Steve Orr reinforces our commitment to strong ethics and integrity in the life settlement industry, and his expertise as a successful entrepreneur will help us continue to grow rapidly," said Andrew J. Walter, who will give up the title of president, but remains chief executive officer of the four-year-old company.

Orr, 55, of Phoenix, MD says, "I am excited to be joining Life Settlement Providers and an evolving industry that gives people with life insurance policies an important financial alternative." Previously appointed Insurance Commissioner of Maryland by former Maryland Gov. Robert L. Ehrlich, Jr., Mr. Orr's term ended May 31, 2007.

Prior to his position as Insurance Commissioner, Orr was Senior Vice President and Chief Information Officer for the Universal Underwriters Group (part of Zurich Financial Services, Inc). From 1982 to 2000, Orr participated in the startup operation of a business specializing in information technology systems and project management. He also worked for Mercantile Safe Deposit and Trust Company, now part of PNC, a Pittsburgh, PA, based banking and financial services company.

Orr is a graduate of Wake Forest University with a M.B.A. from the University of Virginia. He also holds a Chartered Property Casualty Underwriter (CPCU) designation.

About Life Settlement Providers, LLC

Life Settlement Providers, a leader in the secondary market for life insurance policies, is dedicated to helping seniors live their lives to the fullest by maximizing their cash flow and converting qualified life insurance policies directly into cash - at an amount that exceeds the cash surrender value of the current life policy. Life Settlement Providers works directly with leading insurance agents, financial planners, accountants, and attorneys. The company adheres to a strict, written Code of Conduct & Ethical Practices to ensure that every consumer - and his or her representative - receives the very highest level of service excellence.

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Source: Life Settlement Providers, LLC

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