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Here are 1-2 brief analogies for Abacus Global Management (ABX):

• Carvana for life insurance policies.
• Like a real estate investment firm, but for life insurance policies.

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• Life Settlement Acquisition: The company purchases existing life insurance policies from policyholders seeking immediate liquidity.
• Life Settlement Portfolio Management: Abacus Life actively manages a portfolio of acquired life insurance policies, encompassing their holding, trading, and servicing.
• Alternative Asset Management (Life Insurance): The company provides investment management services that allow institutional and accredited investors to participate in the life insurance-backed asset market.

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• Institutional Investors: This broad category includes pension funds, endowments, sovereign wealth funds, and other financial institutions that allocate capital to alternative investments to diversify portfolios and generate specific risk-adjusted returns.
• Family Offices: Private wealth management entities that serve ultra-high-net-worth families, often seeking specialized and uncorrelated investment opportunities like life settlements.
• High-Net-Worth Individuals: Affluent individuals with sophisticated investment strategies who may directly invest in alternative assets or participate in funds managed by companies like Abacus Life.

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• Legacy Benefits and Insurance Services, LLC

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Jay Jackson, Chairman & Chief Executive Officer

Jay Jackson has served as Chairman and Chief Executive Officer of Abacus Life since November 2016 and has also held the role of CEO of Longevity Market Assets since June 2019. Prior to joining Abacus, he co-founded and managed the Fayerweather Street Life Fund and the Cambridge Life Management origination platform for FDO Partners, a $3 billion quantitative investment firm. He began his career at Franklin Templeton Investments, where he served as Vice President for over a decade. Mr. Jackson pioneered the four distinct divisions of Abacus Global Management: Abacus Life Solutions, Abacus Asset Group, ABL Tech, and ABL Wealth.

Bill McCauley, Chief Financial Officer

Bill McCauley has been the Chief Financial Officer at Abacus Life since 2020. Before his tenure at Abacus, he held the CFO position at Independent Financial Partners (IFP) from 2018 to 2020. His career also includes serving as Director of New Ventures Finance at McKinsey & Company (2017-2018) and as Vice President and Chief Financial Officer at Transamerica Financial Advisors, Inc. (2012-2017). He also served as CFO and Assistant Vice President & Controller at MML Investors Services, Inc. and held various finance roles at John Hancock.

Sean McNealy, Co-Founder, President and Director

Sean McNealy co-founded Abacus Life Settlements, LLC in 2004. He has been a leader in the life settlements industry for over 16 years, bringing extensive experience in marketing and capital markets. He is actively involved with Abacus, serving as a managing partner.

Adam Gusky, Chief Investment Officer and Director

Adam Gusky serves as the Chief Investment Officer for Abacus Global Management. He has also been the Chief Investment Officer of East Management Services, an affiliate of Abacus' sponsor, since its inception in 2010. At East Resources, Inc., Mr. Gusky was responsible for financial due diligence for acquisitions, managed the reserve-based lending facility, and developed corporate hedging strategies.

Elena Plesco, Chief Capital Officer

Elena Plesco joined Abacus as Chief Capital Officer in April 2024. She previously served as Co-Head of Specialty Finance within the asset-based finance business at KKR, where she focused on debt and equity investments in consumer and esoteric finance companies. Prior to KKR, Ms. Plesco worked in the investment banking division of J.P. Morgan, engaging in mergers, acquisitions, and other advisory transactions.

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The key risks to Abacus Global Management (ABX) are primarily related to allegations of asset overvaluation, increasing competitive pressure, and the challenges associated with integrating acquired businesses.

1. Allegations of Asset Overvaluation and Accounting Scheme: Abacus Life is facing a fraud investigation following a short seller report from Morpheus Research on June 4, 2025. The report alleges that the company systematically overvalues its life settlement assets through a "mark to model" accounting approach and uses unusual methodologies to calculate life expectancy estimates, questioning the legitimacy of its business model and suggesting its attractive returns are "too good to be true."
2. Competitive Pressure: While Abacus currently benefits from favorable spreads and low competitive pressure in the largely underpenetrated life settlement market, these characteristics also make the industry attractive to larger, well-capitalized players. Increased competition from established insurers or asset managers could lead to pressure on Abacus's margins over time.
3. Integration Challenges from Acquisitions: Abacus Life faces significant risks in successfully integrating acquired companies, such as the FCF Acquisition and AccuQuote. The integration process can be fraught with potential delays, leading to revenue declines, increased expenses, operational disruptions, and the potential loss of key employees and customers.

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Abacus Global Management (NYSE: ABX) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Growth in Fee-Paying Assets Under Management (AUM) and Shift to Recurring Revenue Model: Abacus Global Management is actively expanding its asset management capabilities, aiming to attract more institutional investors to its longevity-focused investment products. The company has a stated goal of increasing fee-paying assets and shifting towards a higher percentage of revenue from recurring, fee-based businesses. Management anticipates expanding its fee-paying assets to $5 billion by year-end 2026. This strategic shift is further supported by the acquisition of a minority stake in Manning & Napier, a wealth and asset manager, which is intended to expand distribution and unlock fee-based recurring revenue streams.

2. Increased Origination and Deployment of Capital into Life Insurance Policies: The company's core "Life Solutions" segment focuses on purchasing life insurance policies. A significant driver of revenue growth is the continued increase in capital deployed to originate new policies. Abacus reported that capital deployment for originations rose to $580.8 million for the full year 2025, and policy originations increased by 26% to 1,310 policies in the same period. This growth in policy acquisition directly contributes to an expanding base of managed assets and future revenue streams.

3. Leveraging Technology and Data Analytics for Operational Efficiency and Market Expansion: Abacus utilizes proprietary data analytics, AI-driven risk pricing, and digital underwriting to enhance its operational efficiency and expand market access. This technological edge is expected to improve the company's ability to source, price, and manage life insurance policies, leading to structural cost efficiencies and access to diverse capital sources, thereby supporting overall revenue growth.

4. Strategic Partnerships and Market Expansion: Strategic alliances, such as the agreement to acquire a minority stake in Manning & Napier, are aimed at broadening product distribution and client referrals. Additionally, the company is focused on expanding into new markets, leveraging technology integration and alternative assets to drive higher profitability and stable, diversified, high-margin revenue streams.

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Share Repurchases

• Abacus Global Management authorized a $10 million share repurchase program effective November 6, 2025.
• The Board of Directors authorized a $20 million share repurchase program, effective January 30, 2026, as part of the company's capital allocation strategy.

Share Issuance

• In November 2024, Abacus Life, Inc. announced an underwritten public offering of 10,000,000 shares of its common stock, generating approximately $74,750,000 in net proceeds after deducting discounts and expenses.
• The net proceeds from the November 2024 offering were intended for operations, including the purchase of life settlement policies, supporting overall business strategy, working capital, potential acquisitions, and debt repayment or refinancing.
• As of March 2026, Abacus's CEO stated that the company does not intend to issue more equity for policy purchases, as capital needs are met through organic growth and fund flows.

Inbound Investments

• Abacus completed a $50 million investment-grade securitized note backed by life insurance assets in October 2025, establishing a scalable and recurring funding mechanism.
• The company is planning a larger securitization, potentially $100 million or more, driven by increased institutional demand for its underlying assets amid market volatility.
• Longevity funds managed by Abacus attracted $630 million in capital inflows during the fiscal year 2025.

Outbound Investments

• In December 2024, Abacus grew through the acquisitions of Carlisle and FCF Advisors.
• The company acquired AccuQuote in October 2025.
• Abacus agreed to acquire an approximately $53 million minority equity stake in Manning & Napier, a wealth and asset manager, in March 2026, which includes a strategic alliance for product distribution, referrals, and joint product development.

Capital Expenditures

• For the full year 2025, capital deployed for policy purchases was $580.8 million, marking a 53% increase from the prior year.
• Abacus deployed a record $230.7 million in capital during the fourth quarter of 2025.
• In the first quarter of 2025, capital deployed for policy purchases increased by 128% to $124.9 million compared to $54.6 million in the prior year.