Abacus Global Management ABXL

Abacus Global Management, Inc. is a financial services company that focuses on alternative asset management data driven wealth solutions technology innovations and institutional services. The company’s core activities revolve around longevity based assets and the life settlement market where it purchases manages and trades life insurance policies. In addition to its life settlement operations Abacus manages alternative investment funds exchange traded funds and an asset based finance strategy that draws on its insurance analytics. The firm also provides proprietary technology products that use health and longevity data sets to support pension funds government agencies and insurance related businesses. As of the end of 2025 Abacus reported assets under management of approximately three point three three billion dollars and its shares trade on the New York Stock Exchange under the ticker ABX.

The company generates revenue through several interconnected streams. Origination fees are earned as a percentage of the face value or net death benefit of each life insurance policy acquired through its three channels of financial advisors direct to consumer and traditional life settlement intermediaries. Active management produces returns from trade spreads when policies are sold to third party institutional investors and from realized returns on policies held to maturity. Third party portfolio servicing brings in fee based revenue calculated as a percentage of the total asset value serviced for outside investors. Asset management fees consist of a base charge on assets under management plus performance fees that apply when returns exceed preset hurdle rates for its alternative investment funds and exchange traded funds. Technology service revenue is derived from fixed annual contracts for its proprietary risk rating heat map policy value calculator and Abacusmarketplace platform that enables tertiary trading servicing and valuation of life settlement policies.

The company operates through the following segments: Abacus Life Solutions Abacus Asset Group Abacus Intel Abacus Wealth Advisors.

• Abacus Life Solutions originates life settlement policies by purchasing existing life insurance contracts from policyholders. The origination process uses three channels a network of approximately thirty thousand financial advisors and agents a direct to consumer outreach that includes radio television advertisements and an online policy value calculator and traditional life settlement intermediaries that submit policies on behalf of advisors or clients. After acquisition Abacus evaluates each policy using its proprietary risk rating heat map which scores risk on a scale from one to five based on factors such as age gender health policy face value carrier rating and life expectancy estimates. The company then decides whether to trade the policy to a third party institutional investor to capture a spread or to hold the policy on its balance sheet paying premiums and receiving the eventual death benefit. In addition to its own portfolio Abacus services life insurance policies for third party institutions earning fees based on a percentage of the assets serviced. The division also offers retirement products and institutional solutions that help insurance carriers and reinsurers optimize legacy liabilities and create innovative consumer facing products. The acquisition of AccuQuote in October 2025 added a digital life insurance origination platform that lets consumers compare quotes from multiple carriers through a single user friendly interface.
• Abacus Asset Group provides investment management services to institutional investors and select private clients. The division manages alternative investment funds that primarily invest in insurance policy settlement contracts offering investors exposure to an uncorrelated asset class with low correlation to traditional markets. It also sponsors exchange traded funds that follow a suite of core and thematic free cash flow equity strategies covering eight global equity allocation categories and provides access to more than fifty customizable free cash flow index strategies through separately managed accounts. In January 2026 the division launched an asset based finance strategy that deploys capital into asset backed investments such as consumer credit equipment finance receivables small business loans intellectual property rights and contractual cash flows targeting approximately sixty five percent of investments with investment grade like characteristics. Asset management fees are based on a percentage of total assets under management and performance fees are applied when returns exceed specified hurdle rates for the alternative investment funds.
• Abacus Intel develops and sells technology products that rely on proprietary health and longevity data sets. Its offerings include a risk rating heat map that measures the risk of life insurance contracts on a one to five scale a policy value calculator that instantly estimates policy value using gender age face value and policy type and the Abacusmarketplace platform which facilitates tertiary trading servicing and valuation for the life settlement industry. These technologies are used to provide real time mortality verification missing participant location and secondary life insurance market services to pension funds government agencies and insurance related businesses. Revenue from this segment comes from fixed annual contracts for access to these technology services. The division began recognizing technology service revenue in the fourth quarter of 2024 after rebranding its earlier ABL Tech operation as Abacus Intel.
• Abacus Wealth Advisors delivers wealth management services that are driven by data and algorithms. The division helps financial advisors create customized financial plans for clients that incorporate health longevity and overall financial wellbeing considerations moving beyond generic one size fits all advice. It leverages more than two decades of proprietary data and analytical models to tailor investment strategies retirement plans and risk management solutions to individual client profiles. The service is designed to be transparent and data driven enabling advisors to offer personalized solutions that aim to optimize financial outcomes across different stages of life.

Abacus Global Management holds a leading position in the life settlements industry with an estimated twenty six percent market share based on 2023 capital invested relative to total industry capital invested according to The Deal and Life Settlements Report. The company operates in forty nine states which is a significant advantage given the high regulatory barriers to entry that limit many competitors to fewer jurisdictions. Its counterparties in life settlement transactions are predominantly high quality insurance carriers with greater than ninety percent holding an A rating or better and the underlying policies are cash backed by those carriers which reduces payout risk. Life settlement assets exhibit low correlation to traditional equity and bond markets and are often described as mortality driven zero coupon bonds because their value tends to increase as the insured ages. Competitive advantages stem from the firm’s proprietary analytics its extensive network of financial advisors its direct to consumer channels and its long standing management team with an average of over twenty years of industry experience.

The company serves a diverse customer base that includes institutional investors such as pension funds asset managers and insurance companies seeking alternative returns and liability management solutions. Financial advisors and independent brokers rely on Abacus for life settlement origination services and data driven wealth planning tools to better serve their clients. Individual policyholders primarily seniors looking to unlock the value of their life insurance policies use the company’s origination channels to receive immediate cash proceeds. Insurance carriers and reinsurers engage Abacus to help optimize legacy liabilities and to develop innovative consumer facing products. Government agencies and pension funds utilize the firm’s health and longevity technology for mortality verification missing participant tracking and secondary market oversight. While the filing does not disclose specific customer names the described groups represent the primary users of Abacus Global Management’s products and services.