Abacus Global Management Expands Financial Services Platform with Acquisition of AccuQuote

Abacus Global Management has acquired AccuQuote, a provider of online life insurance brokerage services. The acquisition aims to enhance Abacus' financial services platform and broaden customers' access to insurance options. Abacus views the acquisition as an opportunity to create synergies and reinforce its commitment to comprehensive wealth management solutions. By incorporating AccuQuote's platform, Abacus aims to better meet clients' needs throughout their financial life cycle.

Abacus Global Management (NASDAQ: ABL) has announced the acquisition of AccuQuote, an online life insurance brokerage platform that provides quotes from multiple insurers through a single interface. The acquisition aims to enhance Abacus' financial services platform and broaden customers' access to insurance options.

AccuQuote, founded more than 40 years ago, has assisted nearly 350,000 families in obtaining life insurance coverage, issuing approximately $156 billion in policy benefits and generating close to $340 million in lifetime premiums. The platform enables users to compare quotes and select policies suited to their individual needs.

Abacus stated that the acquisition aligns with its strategy to build a comprehensive wealth management platform. By combining AccuQuote’s digital distribution system with Abacus’ existing financial planning, alternative asset management, and longevity-based products, the company aims to address a broader range of client requirements.

The acquisition also aims to drive additional revenue by leveraging AccuQuote’s brand recognition and by monetizing inbound inquiries from policyholders who may not qualify to sell their existing policies.

Abacus CEO Jay Jackson noted, "The acquisition of AccuQuote further expands the breadth of our financial services platform. By integrating their specialized digital insurance marketplace with our wealth management capabilities, we're eliminating traditional barriers between protection planning and asset growth. This acquisition enables us to deliver a truly integrated approach that addresses both wealth accumulation and preservation needs throughout the Abacus client lifecycle."