Abacus Global Management acquires AccuQuote insurance brokerage

Abacus Global Management Inc. (NASDAQ: ABL) announced the acquisition of AccuQuote, an online life insurance brokerage company that provides quotes from multiple insurance providers through a single platform.

AccuQuote has operated for more than four decades, serving nearly 350,000 families and writing $156 billion in life insurance policy benefits while generating almost $340 million in lifetime premiums, according to the press release statement.

The acquisition integrates AccuQuote's digital distribution platform with Abacus' financial planning and alternative asset management services. AccuQuote allows customers to compare quotes from multiple carriers through one interface.

"The acquisition of AccuQuote further expands the breadth of our financial services platform," said Jay Jackson, Chairman and Chief Executive Officer of Abacus. "By integrating their specialized digital insurance marketplace with our wealth management capabilities, we're eliminating traditional barriers between protection planning and asset growth."

Jeremy Hewett, Chief Executive Officer of AccuQuote, stated that joining Abacus allows the company to "significantly expand our impact in the insurance marketplace" and extend technological capabilities while connecting insurance solutions to wealth strategies.

Abacus plans to leverage AccuQuote's platform to monetize monthly inquiries it receives from policyholders who may not qualify to sell their current policies. The company expects the integration to provide revenue growth opportunities through AccuQuote's established brand and track record.

Abacus Global Management specializes in alternative asset management, data-driven wealth solutions, technology innovations, and institutional services, with a focus on longevity-based assets and personalized financial planning.

You May Also Be Interested In

• Ares closes Japan logistics fund at ¥612 billion hard cap
• Dutch Bros declines to raise bid for Salad and Go locations
• Kohl's names Ryan Waymire as chief merchandising officer