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Welcome to AA-Partners

At the end it’s all about performance

AAP is specialised on US life settlements. Life settlements are in force life insurance policies that are sold from the original owners to investors.

Life settlements have attractive characteristics: the high average projected IRR, the excellent credit quality of the insurance carriers and the non-correlation of mortality with interest rates, the stock markets or the economy.

These are great attributes which benefit our investors. Please ask us about our track record. Since at the end it’s all about performance!

years of company history
transactions collected
10+ Bn. USD
analysed face value
Market reports

About us

AA-Partners / AAP is a Zurich, Switzerland based, privately owned investment boutique. Our clients are institutional investors and family offices worldwide.

Our team consists of highly skilled professionals who are passionate about providing exceptional service to our clients. We believe that building long-term relationships based on trust and transparency is key to our success.

Beat Hess
Managing Partner
short CV

From February 2005 until founding AAP Mr. Hess was as Vice President at Bank Leu responsible for the product management and development of fund of hedge fund and equity products. From 2000 to 2003 Mr. Hess was Compliance Officer at Fondvest Ltd., a subsidiary of UBS Ltd., and responsible for fund research and education. Following the integration of Fondvest into UBS Mr. Hess headed the fixed income and real estate fund research.

Beat Hess holds a Master of Science from the Swiss Federal Institute of Technology in Zurich (ETH Zurich) and a Master Degree in Business Administration from the University of Zurich.

Christophe Heck
Member of the Advisory Board
short CV

Mr. Heck is currently Market Head Life & Health France for Swiss Re. Having worked previously at Swiss Re and Credit Suisse Asset Management he has gained over 10 years of top-tier life (re)insurance experience. As portfolio manager of a major life hedge fund, Mr. Heck has in-depth insight and exposure to the Life Settlement market.

Mr. Heck is a Board Member of the Swiss Actuarial Association and Chair of the AAE Professionalism committee. He is a fully qualified Swiss Actuary and is holding a MSc Actuarial Science degree.

Ernst A. Bütler
short CV

Mr. Bütler has more than 45 years of experience as a finance expert. He was a senior banker at Credit Suisse and Credit Suisse First Boston, where he was a Managing Director and Co-Head Switzerland of Corporate and Investment Banking. Mr. Bütler is member of the board of various companies in Switzerland, China, Germany, UK and the USA.

Mr. Bütler got his education at the University of Applied Sciences of Zurich, at INSEAD Fontainebleau/France and at the MIT Boston/USA.

Gabriel Mäder
short CV

Before joining AAP Mr. Mäder has been Director at Swiss&Global Asset Management, the former asset management department of Bank Julius Bär, responsible for institutional private label fund clients since 2006. From 2003 to 2006 Mr. Mäder was Director at UBS Wealth Management Research in the fund research department. Mr. Mäder started his professional career 2001 at CSI Consulting in Zurich.

Gabriel Mäder holds a Master of Science from the Swiss Federal Institute of Technology in Zurich (ETH Zurich).

Volkmar Lautscham
Member of the Advisory Board
short CV

Having previously worked for J.P. Morgan's investment banking division in London, HEC Lausanne's Actuarial Science department and UBS's Wealth Management in Zurich and Hong Kong/Singapore, Mr. Lautscham has more than 12 years of experience in banking, finance and actuarial science. He is also an external lecturer in Investment Banking at Graz University of Applied Sciences and has (co-)authored different scientific publications in Actuarial Science as well as books on credit derivatives and quantitative methods for financial markets.

Mr. Lautscham holds a Ph.D. in Actuarial Science and Master degrees in Applied Mathematics and Financial & Industrial Management.

Our Services

Life settlements belong to the Insurance Linked Securities (‘ILS’), but this asset class also shares characteristics with fixed income, absolute return strategies, credit strategies and private equity. Thus, it is a truly unique investment topic which comes with a specific set of information and knowhow necessary to be successful.

At the core we are a data company. The insights from our data bases allow us to achieve outstanding investment results and to offer unparalleled services in various areas. 

Market intelligence

AAP collects information regarding closed life settlement transactions in the secondary and tertiary market since 2011. The collected data includes all relevant aspects as information about the insured person, the policy and the transaction itself.

The collected data offers unique insights into the structure of the market, about market trends and the actual market valuation.

Events & Literature

AA-Partners Ltd. Terms & Conditions.

Life settlement providers of the AAP life settlement transaction data collection

The life settlement markets are opaque. However, we believe that at least certain information should be available since data availability is of great importance for a market in general and for investors in particular. This is why we have set up a life settlement transaction data collection.

We have a great panel of life settlement providers which support the idea of improved transparency by providing their closed transactions. You find the participating companies on the right.


Call us
+41 79 834 38 63

Waldmannstrasse 8
8001 Zürich