Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are inherently subject to risks and uncertainties. These forward-looking statements generally are identified by the words “believe,” “predict,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “scales,” “representative of,” “valuation,” “potential,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions or the negatives of these terms or variations of them. This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the transaction, including statements regarding the anticipated benefits of the transaction, the anticipated timing of the transaction, the future financial condition and performance of Abacus and expected financial impacts of the transaction (including future revenue and pro forma enterprise value) and the platform and markets and expected future growth and market opportunities of Abacus. Pegula, is a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in North America. Abacus is also proud to be a BBB Accredited Business with an A+ rating.Įast Resources Acquisition Company, led by Terrence (Terry) M. The company is a proud member of the Life Insurance Settlements Association (LISA) and complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. The company has serviced approximately $950 million in policies and has managed assets for large asset managers and third-party investment funds.Ībacus’ leadership team averages 20+ years of experience and have been innovators since the life settlements industry’s inception in the mid-90s. 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. 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.
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