Abacus Life and AIMCOR Announce New National Distribution Agreement
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 has established a new national distribution agreement with AIMCOR, expanding its market reach.
- Partnership with AIMCOR, which has a network of over 40 brokerage general agencies, enhances Abacus' distribution capabilities.
- This agreement positions Abacus as a preferred partner for life settlement solutions, potentially increasing its client base.
- The collaboration aims to educate financial professionals about life settlements, potentially raising awareness and adoption of Abacus' services.
- The press release lacks specific financial details regarding the expected revenue impact of the new agreement.
- No concrete figures or projections are provided to quantify the strategic growth mentioned.
ORLANDO, Fla., June 03, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (NASDAQ: ABL) (“Abacus” or the “Company”), a pioneering alternative asset manager specializing in longevity and actuarial technology, announced today a new national distribution relationship with AIMCOR, one of the largest national insurance marketing organizations in the United States. Through their network of 40+ brokerage general agencies, AIMCOR specializes in offering protection and retirement solutions to thousands of financial professionals, institutional clients, and other aligned distribution partners across the country.
As part of this new relationship, Abacus will offer their expertise and become a preferred partner for life settlement solutions to AIMCOR’s national network of affiliated member firms.
“We’re thrilled to enter into a formal relationship with AIMCOR,” said Abacus Chief Executive Officer Jay Jackson. “This new relationship will help AIMCOR members throughout the country to leverage Abacus’ resources, ensuring their end policyholders understand the value of their policies and empower customers to make educated decisions about their financial future.”
“As life settlements are becoming more mainstream, we are excited to partner with Abacus in order to promote our mutual success and drive long-term strategic growth. As the only public company in the industry, we believe that Abacus is the right partner to assist our members, institutional partners, and aligned distributors in offering settlement options to their customers," commented Marc Verbos, EVP and President of Aligned Distribution for AIMCOR. “This collaboration is in line with our ongoing commitment to help educate financial professionals and their clients about the innovative solutions available to provide greater financial flexibility, and to raise awareness about life settlements as a viable option that should be considered under the appropriate circumstances.”
About Abacus
Abacus is a leading vertically integrated alternative asset manager and market maker, specializing in longevity and actuarial technology. The company is democratizing the life insurance space through three groundbreaking new channels: ABL Tech, ABL Wealth, and ABL Longevity Growth and Income Funds. Since 2004, Abacus has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). With over
Over the past 20 years, the company has built an institutionalized origination and portfolio management process that is supported by a 100+ person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The Company complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating. Abacuslife.com
About AIMCOR
AIMCOR Group, LLC is a national insurance distribution organization that is committed to making a difference in the lives of its members, advisors, and consumers by enabling new distribution, engaging consumers, and delivering financial security to American families across all ages, income levels and cultural background while introducing excitement to the industry by way of its relentless focus on innovation, expansion, diversification, and profitability. aimcorgroup.com
| Contact: | |
| Abacus Life Investor Relations | Abacus Life Public Relations |
| investors@abacuslife.com | press@abacuslife.com |
| AIMCOR Group, LLC | |
| Mike English: mike.english@aimcorgroup.com |
FAQ
What is the new distribution agreement between Abacus Life and AIMCOR?
How does the partnership between Abacus Life and AIMCOR benefit policyholders?
Why did AIMCOR choose to partner with Abacus Life?
How many brokerage general agencies are part of AIMCOR's network?
