Dematco, Inc a specialist in dematerialising and converting insurance instruments from paper form to electronic form, has announced a 50% revenue sharing agreement with Toronto-based hedge fund manager Quantus Investment Corp.
Investment instruments and derivative products will be created from dematerialised Senior Life Insurance Policies. Dematco and Quantus expect to bring Variable Stripped Units, Senior Life Settlement Units, bonds and distinctive instruments to market in acceptable dematerialised form for Institutional participation. A 50/50 sharing of fees arising from introductions by each party to the other has been entered into.
Robert Stevens, Dematco Chairman and CEO, says: "In a market traditionally confined to paper products only, we expect to generate significant fees by dematerialising Senior Life Settlement Policies. Quantus is the long awaited relationship that the Company has been diligently working on overtime. Our initial marketing strategy anticipates revenue in the 4th quarter reflective of the volumes created. The agreement with Quantus runs for 10 years; we look forward to a long and fruitful growth."
Jamie Spreng, Quantus CEO, says: "We are looking forward to the development of the wide range of products shown to us by Dematco and having a long working relationship with the Company."