ORLANDO, Fla., May 20, 2021 /PRNewswire/ -- According to the annual report filed by the Life Settlement news outlet, The Deal, Abacus Life Settlements continues to be one of the top buyers in all reported categories by providing industry leading value to their clients year-over-year. Since 2017, Abacus has outperformed the leading buyers in settlement offers as a percent of face value by paying out over half a billion dollars to policy sellers. The Deal reported that Abacus paid 22.5% per policy on average, 37% higher than their closest competitor who paid an average 16.4% of policy face value to sellers.
"I am proud of our staff and thankful to our dedicated partners, financial advisors, and insurance agents. In a year when the country was in the midst of a substantial crisis, I can't stress enough how happy it made me to know that we were able to provide an incredibly important financial service and tool for our clients," said Jay Jackson, CEO of Abacus Life. "We pride ourselves on providing the best end-to-end experience possible and the fact that were able to put $172 million directly into consumers hands is an incredible accomplishment."
Despite 2020 being a tumultuous year, especially for seniors and financial professionals, Abacus was able to expand their staff and deploy $172 million in capital on their way to purchase nearly a billion dollars in life insurance policies. Abacus accomplished this by offering a measure of stability that was hard to come by in 2020 for their clients.
"While there were certainly struggles in acquiring policy and medical records early on, we quickly developed groundbreaking tools that became a hallmark of Abacus," said Scott Kirby, Managing Partner at Abacus Life. "We are the first provider in the space to offer fully e-signed contracts, coupled with our innovative underwriting techniques and highly motivated capital. We were able to provide the Abacus standard very quickly, even in the face of a strange year."
Founded in 2004, Abacus Life is a licensed Direct Life Settlement Provider and Buyer headquartered in Orlando, Florida. Abacus responds to the needs of Professional Advisors and Policy Sellers seeking to optimize the value of life insurance policies. Policy Sellers, Life Settlement Brokers, and Agents know they can count on Abacus to deliver sound solutions and a fair market value for each policy that we purchase.
SOURCE Abacus Life Settlements