Report: Abacus Posts Largest Annual Growth of Major Life Settlement Buyers
“Thank you to all of our partners who helped us become the fastest-growing buyer and led the industry in dollars paid to clients” – Jay Jackson, CEO on Abacus’ annual growth trends
ORLANDO, Fla., May 31, 2019 (Newswire.com) – In Consecutive Years, Abacus Purchased the Second Highest Number of Policies, and Further Narrowed Gap between Abacus and the Top Policy Purchaser
According to a new report from a settlement industry news outlet, The Deal, Abacus Life Settlements is the fastest growing major life settlement buyer in the industry, posting a 77.3% annual increase in policies purchased. Abacus remains the second largest life settlement buyer in the nation, while again closing the gap between Abacus and the industry leader in policies purchased. This is the second year in row Abacus led all major buyers in growth. The Deal reported Abacus led the entire industry in overall settlement value paid to clients, with $132 million paid to clients in 2018.
“Of the top players, we’re the fastest growing provider in the industry. That’s not an accident,” said Jay Jackson, CEO of Abacus Life Settlements. “We entered 2018 with the clear intent to deploy more capital than anyone else, and we succeeded. We have brought that same energy into 2019.”
According to the report, the overall life settlement industry grew by 28 percent in 2018, continuing its year-over-year run of annual growth. The report compiles data mainly through a public-records request from state insurance departments and is prepared by an impartial third party.
Jackson attributes Abacus’ continued success to transparency and trust: “We’ve done it by being honest, consistent and completely transparent at every step of the process with everyone. We want our clients to see the numbers and, most paramount, the numbers behind the numbers, so they feel absolutely comfortable. You can’t treat people as a policy – you have to treat them as people, and people who are often at a vulnerable moment in their lives. That may sound obvious, but respecting the unique circumstances of every person is the only way to build real trust. You can’t be focused on convincing them you care — you have to actually care – and that’s something we have instilled from top to bottom at Abacus.”
“The agents, brokers and financial advisors we work with are willing to trust us with their most important and delicate asset — their own clients’ trust — because they know we aren’t trying to make a quick buck,” said Scott Kirby, Abacus Managing Partner. “We are extremely well-capitalized and only interested in building long-term relationships, which means treating their clients with respect and getting maximum value for their clients. It’s why brokers, agents, and advisors keep coming back to us, and it’s been an incredible success for them and their clients. Additionally, our staff has done an incredible job dramatically improving the service experience, reducing contract closing times by 20% and direct clients, and brokers and agents have really be benefited from the increased speed.”
Founded in 2004, Abacus Life Settlements is a licensed Direct Life Settlement Provider and Buyer headquartered in Orlando, Florida. Abacus responds to the needs of Professional Advisers 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 the fair market value of each policy that we purchase.
Contact Abacus directly at 800-561-4148, or [email protected]