Over the past 19 years, the company has built an institutionalized origination and portfolio management process that is supported by a 78-person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. With over $2.9 billion in face value of policies purchased, Abacus has helped thousands of clients maximize the value of life insurance. Since 2004, the company has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). Completion of the business combination is subject to customary closing conditions.Ībacus is a leading vertically integrated alternative asset manager specializing in life insurance products. As a result, Abacus has purchased an industry-leading ~$1.3 billion (face value of policies) from 2019-2022.Īs previously announced on August 30, 2022, Abacus Life has entered into a definitive business combination agreement with East Resources Acquisition Company (NASDAQ: ERES), a special purpose acquisition company, that is expected to result in Abacus Life becoming a publicly listed company. Prospective clients interested in selling their life insurance policies to Abacus Life can earn significantly more than the rates provided by their competition. The percent paid per face was reported in the annual market volume story in June by The Life Settlements Report." Overall, the average paid per face in the market came in at 18.35%. " pointed out that Abacus’s average amount paid per face value was 22.5% in 2021, compared to 16.7% by rival Coventry First LLC. The full article can be viewed here: The Deal Reports That Abacus Promotes Trio To Head Consumer Business - Abacus Life Settlements The Deal recently featured Abacus by highlighting its transparent and competitive pricing, as well as recent management hires Cassie Schaelling, Efi Laina and Courtney Pezzopane. Specifically, the Company originates policies through three primary origination channels (Agents/Financial Advisors, Direct-to-Consumers, Life Settlement Brokers) and Third-Party Intermediaries, screens them for eligibility by verifying that the policy is in force, obtaining consents and disclosures, and submitting cases for life expectancy estimates.ORLANDO & BOCA RATON, Fla., March 21, 2023-( BUSINESS WIRE)-Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC (together "Abacus") is a leading buyer of life insurance policies and a vertically integrated alternative asset manager specializing in specialty insurance products. It originate life insurance policy settlement contracts as a licensed life settlement provider on behalf of third-party institutional investors interested in investing in the life settlement asset class. Its active management segment is engaged in buying, selling and trading policies and maintaining policies through to death benefit. Its portfolio servicing segment is engaged in providing policy services to customers on a contract basis. The Company operates in two segments: portfolio servicing and active management. is a vertically integrated alternative asset manager specializing in life insurance products.
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