“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. 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.
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