The combined company will have an estimated post-transaction enterprise value of $618 million, assuming no redemptions by ERES public stockholders. Highly attractive projections that transition the business model as the capital base scales.Strong leadership supported by an experienced operational and execution team.Optimized platform through active portfolio management.Proprietary technology platform yields differentiated underwriting capabilities.Origination machine developed over the past 18 years that drives economics and returns.Essentially uncorrelated alternative asset class with strong historical returns and institutional investment grade counterparts.Large and growing addressable market with secular tailwinds and meaningful growth potential, including opportunity to increase market penetration.“We are very fortunate to have found such a great partner for the SPAC and more importantly for shareholders, a company that is a highly scalable, sector market leader, underpinned by steady financial performance and strong growth potential.” “Abacus’ leadership has built a leading business in the life settlement industry with a deep management team, each with decades of experience,” said Terry Pegula, Chairman, CEO and President of East Resources Acquisition Company.
“This transaction is an important milestone and will assist in accelerating the scale of our platform to increase penetration into the growing $233 billion potential Annual Life Settlement market.” They share our excitement about the opportunity ahead and bring invaluable expertise and knowledge in alternative investments,” said Jay Jackson, Chief Executive Officer of Abacus Life. “We are thrilled to be partnering with East Resources on this significant milestone. Abacus Life is a BBB Accredited Business with an A+ rating. Abacus Life’s team of 59 experienced professionals, which has serviced approximately $950 million in policies and is operational in 49 states, provides white-glove service to financial advisors and policy owners who need to value life insurance and explore this lucrative financial option. Additionally, with almost $1.3 billion in face value of policies purchased from 2019 – 2021, the Company has helped thousands of clients maximize the value of their life insurance. for the last 18+ years, with nearly 20% market share, and approximately 4x origination growth over the last six years. and is expected to remain listed on Nasdaq under the new ticker symbol “ABAL.”Ībacus Life has been the industry leader in purchasing life insurance policies in the U.S. Upon closing of the transaction, the combined company will be named Abacus Life, Inc. To improve data quality and relevance, validations are conducted using a standardized set of rules, however client-specific rules can also be added to reflect potential internal constraints or local regulations.Ī highly extensible Java and web-based client-server, three-tier-architecture, a relational database system, and standard interfaces ensure easy integrated into complex system landscapes.ORLANDO & BOCA RATON, Fla.-(BUSINESS WIRE)-Abacus Settlements, LLC (d/b/a Abacus Life) and Longevity Market Assets, LLC (together “Abacus”), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, and East Resources Acquisition Corporation (NASDAQ: ERES) (“ERES”), a special purpose acquisition company, announced today their entry into a definitive merger agreement that will result in Abacus becoming a publicly listed company.
The technical design of Abacus Insurance enables you to create separate reporting scenarios where simulations or tests can be performed on one or several reporting areas.
#Abacus insurance underwriters pdf#
pdf or Excel format and data can be integrated with Word to support the production of RSR and SFCR reports. Complete workflow support for the generation of quantitative reporting templates (QRTs) in XBRL format and qualitative reports such as Regular Supervisory Report (RSR) and Solvency and Financial Condition Report (SFCR).Ī reporting monitor or “cockpit” enables you to monitor report development at every stage of the process and across all group hierarchy levels.
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