Abacus Life is about to become a bigger manager of life settlement assets.
The publicly traded, Orlando-based company says it now has the regulatory approvals it needs to complete the previously announced acquisition of Carlisle Management Co.
Abacus ended the third quarter with $274 million in life settlement policy assets under management.
Carlisle is a Luxembourg-based life settlement asset manager with $2 billion in assets under management. The final deal approval came from the firm's regulators in Luxembourg.
What it means: You and clients may see more ads encouraging older policyholders with unwanted policies to consider selling them.
Life settlement basics: Life settlement companies buy in-force life insurance policies from the insureds, or from other asset managers.
U.S. life settlement companies paid $842 million in 2023 for life insurance policies with about $4.7 billion in death benefits, or about 18 cents per dollar of anticipated death benefits, according to The Deal.
Deals: Abacus announced in July that it agreed to acquire Carlisle for about $200 million in Abacus stock and notes.
