Abacus closes $400 million life insurance securitization

Abacus Global Management, Inc. secured a $400 million securitization involving life insurance policies, as reported in a press release. The dual-tranche offering comprises Class A and Class B notes, along with a residual interest. The transaction, overseen by a special-purchase vehicle, is backed by a pool of life insurance policies, which Abacus continues to service through its affiliates.

The investment-grade rating received from a third-party rating agency, coupled with strong investor demand, confirms the company's belief in a robust market for longevity-based assets among top fixed income buyers. The proceeds from the offering will be allocated to policy origination and general corporate purposes. Abacus, a financial services firm specializing in alternative asset management, aims to broaden its investor base, enhance distribution channels, and build a revenue stream driven by management fees.