Abacus Life (NASDAQ: ABL), the leading buyer of life insurance policies and a vertically integrated alternative asset manager specializing in specialty insurance products, is excited to share the news of its transformation into a publicly listed company. In collaboration with East Resources Acquisition Corporation (NASDAQ: ERES), a special purpose acquisition company, Abacus Life has entered into a definitive merger agreement, positioning itself for continued success and growth. Following the completion of the merger, the combined company will be known as Abacus Life, Inc. and is expected to maintain its listing on NASDAQ under the new ticker symbol “ABL.”
With over 19 years of industry experience, Abacus Life has established itself as a leader in payouts to clients in the U.S., boasting a remarkable 20% market share. Demonstrating exceptional growth, the company has achieved a staggering fourfold increase in origination within the past six years. Having purchased life insurance policies with a face value of nearly $1.3 billion from 2019 to 2021, Abacus Life has effectively assisted thousands of clients in maximizing the value of their life insurance policies. Operating in 49 states with a team of 88 seasoned professionals, Abacus Life delivers top-notch service to financial advisors and policy owners, helping them evaluate life insurance options for optimal financial gain. The company is BBB Accredited with an A+ rating, reflecting its commitment to excellence and transparency.
Abacus Life attributes its unprecedented success to several key factors. Firstly, its team comprises highly experienced managing partners with extensive expertise in the life settlement industry. This expertise, accumulated over decades, positions Abacus Life as a trusted authority in the market. Additionally, Abacus leverages a proprietary technology platform that provides distinct underwriting capabilities, enabling them to make more accurate assessments. This technological advantage sets Abacus Life apart from its competitors.
The life settlement industry represents an uncorrelated alternative asset class with a $233 billion total addressable market (TAM) and offers significant growth potential. Abacus Life stands at the forefront of this sector, benefitting from its institutional investment-grade counterparts and a consistent track record of financial performance. The company’s robust business model, supported by its origination machine developed over the past 19 years, has driven exceptional returns and sustainable growth.
The merger with East Resources Acquisition Corporation signifies a crucial milestone for Abacus Life. By partnering with East Resources, a company renowned for its expertise in alternative investments, Abacus Life gains invaluable knowledge and support to further capitalize on the immense growth opportunities within the $233 billion potential annual life settlement market.
The transaction between Abacus Life and East Resources Acquisition Corporation implies a pro-forma enterprise value of $618 million, signifying the market’s recognition of Abacus Life’s value proposition. The proceeds from this transaction will be utilized to reduce the cost of capital, expand Abacus Life’s hold portfolio, and initiate the securitization of policy portfolios. This strategic allocation of resources will ensure the company’s continued growth and success in the life settlement space.
In addition to its industry-leading position and impressive financial performance, Abacus Life has garnered a strong reputation for its exceptional customer satisfaction and transparency in its operations. Online reviews from clients and industry professionals consistently highlight the company’s commitment to delivering white-glove service and maintaining an honest and transparent process.
In addition to its industry-leading position and commitment to transparency, Abacus Life goes above and beyond by offering a powerful tool—the Abacus Life Settlement Calculator. This innovative calculator allows policy owners to easily estimate the true value of their life insurance policy.
The Abacus Life Settlement Calculator is designed with user-friendliness in mind, ensuring that individuals can navigate the process effortlessly. By inputting specific policy details, like age, gender, policy type, and face value, users gain access to an instant estimate of their policy’s value. This valuable tool eliminates guesswork and provides policy owners with a clear understanding of the potential worth of their life insurance policy.
In conclusion, Abacus Life’s ascension to a publicly listed company demonstrates its position as the industry leader in the life settlement space. The company’s unrivaled success, underpinned by its experienced team, proprietary technology platform, and exceptional financial performance, sets a new standard in the industry. Abacus Life’s ability to maximize the value of life insurance policies for its clients remains unparalleled, making it a top choice for financial advisors and policy owners alike. As the company embarks on this new chapter, it is poised to further cement its position as the market leader and deliver continued growth and value to its stakeholders.
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