Welcome to our dedicated page for Abacus Global Management news (Ticker: ABLLW), a resource for investors and traders seeking the latest updates and insights on Abacus Global Management stock.
Abacus Life Inc (ABLLW) provides investors with comprehensive updates on its alternative asset management strategies and life insurance market activities. This dedicated news hub aggregates all official announcements, financial disclosures, and strategic developments from the vertically integrated investment manager.
Access real-time updates on earnings reports, policy portfolio acquisitions, and regulatory compliance matters. The curated collection serves as a reliable resource for tracking the company's management of life settlement investments throughout their lifecycle. Content spans operational milestones, risk management initiatives, and industry-specific developments relevant to alternative asset investors.
Key updates include strategic partnerships, portfolio performance insights, and innovations in data-driven investment approaches. Users can expect factual reporting on ABLLW's unique position at the intersection of insurance markets and alternative asset management. All information is verified through primary sources to ensure accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to ABLLW's latest developments. Regularly updated content supports informed decision-making for stakeholders monitoring the specialized life insurance investment sector.
Abacus Life (NASDAQ: ABL) announced that it led the life settlement industry in 2023 with a 26% market share in funds paid to clients, according to The Deal's annual ranking.
The company paid $220 million in life settlement funds, equivalent to over 20% of policy face value on average, which is 32% higher than its closest competitor.
Additionally, Abacus acquired 640 policies with a collective face value of nearly $1.1 billion, reflecting a 31.4% increase from 2022, compared to the industry growth of 4%.
CEO Jay Jackson expressed pride in the company's achievements and commitment to delivering exceptional value to clients.
Abacus Life (NASDAQ: ABL), a leader in alternative asset management, announced a new national distribution agreement with AIMCOR, a top insurance marketing organization. This relationship enables Abacus to offer life settlement solutions through AIMCOR’s network of 40+ brokerage general agencies. Abacus CEO Jay Jackson highlighted the partnership's potential to help AIMCOR members leverage Abacus' resources, fostering better financial decisions for policyholders. AIMCOR's EVP, Marc Verbos, emphasized the collaboration's role in promoting life settlements as a mainstream financial solution, enhancing the strategic growth and education of financial professionals.
Abacus Life, Inc. reported a more than doubled total revenue of $21.5 million in the first quarter of 2024, driven by a 59% year-over-year growth in the Direct-to-Consumer division. The company also launched ABL Tech, raised $25 million from the issuance of senior notes, and strengthened its management team. Adjusted EBITDA grew by 38.1% to $11.6 million, with an EBITDA margin of 53.9%. Despite a GAAP net loss of $1.3 million, adjusted net income was $6.7 million. The company had cash equivalents of $65.4 million and repurchased shares worth $11 million.
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