Abacus Global Management (NYSE:ABX) earlier this week reported record-setting financial and operational performance for 2025, highlighting strong momentum in the rapidly expanding life settlements market.

CEO Jay Jackson said the company delivered more than 100% year-over-year growth across key financial metrics, including EBITDA, adjusted net income, and gross results. He emphasized that beyond headline figures, the underlying operational activity demonstrated the strength of the platform.

Jackson noted that Abacus acquired more than 1,300 life insurance policies during the year and generated nearly $180 million in realized gains. The company also sold over 1,000 policies, underscoring the liquidity and scalability of its model. He added that more than $600 million in capital was deployed, enabling over 1,100 seniors to access value from previously illiquid assets.

“We’re helping clients find liquidity in assets they didn’t know had it — their life insurance policies,” Jackson said.

Jackson explained that life insurance policies are increasingly being recognized as a viable financial asset class.

Looking ahead, Jackson pointed to a substantial growth runway, noting that the total addressable market is approximately $14 trillion, while Abacus has only penetrated a small fraction of that opportunity. He suggested that ongoing macroeconomic uncertainty is driving investor demand for uncorrelated assets, positioning life settlements as an attractive alternative.

As a key catalyst for future growth, the company recently completed a minority investment in Manning & Napier, a long-established wealth and asset management firm. Jackson said the partnership provides access to more than 3,400 retail clients, many of whom may not yet be aware of the liquidity potential within their life insurance holdings.

He indicated that this strategic relationship could enhance origination volumes and contribute to continued record performance into 2026.

“We’re one of the largest originators, and our record numbers are an indicator of what’s coming next,” he said.

COLUMBIA, S.C. (WCIV) — Dozens of local elected officials from across South Carolina are urging state lawmakers to pass legislation that would allow cities, counties and school districts to deposit taxpayer funds in the financial institution of their choice, including qualified credit unions.

The Palmetto Public Deposits Coalition, formed by more than 40 mayors, county council members and municipal leaders have signed a joint letter calling on the General Assembly to advance the South Carolina Financial Freedom Act, a bill that, if signed, would lift long-standing restrictions that require public entities to deposit funds exclusively in commercial banks, even though state law already allows credit unions to accept public deposits.

The coalition argues the current system limits competition and prevents local governments from seeking potentially better rates, lower fees and more responsive service.

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“Local governments should have the same financial freedom that families and businesses have — the ability to choose the financial institution that best meets their needs,” Rick Osborn, chairman of the Palmetto Public Deposits Coalition, explained. “This commonsense reform will introduce healthy competition, help stretch taxpayer dollars further, and strengthen partnerships with community-focused financial institutions that are deeply invested in South Carolina.”

The efforts also won support from the South Carolina Association of Counties and the Municipal Association of South Carolina, whose boards have formally endorsed expanding deposit options. Their backing signals broad agreement among local government officials that the law should be modernized.

In their letter to lawmakers, the coalition argued that permitting credit unions to hold public deposits would restore financial choice and improve outcomes for residents.

“This legislation is about giving local leaders more tools to serve residents effectively and make responsible financial decisions,” said Goose Creek Mayor Greg Habib, one of the signatories.

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The Financial Freedom Act would allow, but not require, public entities to deposit funds in qualified credit unions. Coalition members said the bill is not designed to favor one type of institution over another, but to encourage competition in a market currently limited to commercial banks, many of which operate outside the state.

The Palmetto Public Deposits Coalition said it will continue working with local leaders, state associations and lawmakers as the legislation moves through the current session.

The FTSE 100 (^FTSE) was hovering around the flatline on Friday, while European stocks headed lower, as traders shrugged off Donald Trump’s latest pause on striking Iran’s energy infrastructure.

On Thursday night, the US president extended the deadline for Iran to open the strait of Hormuz by 10 days, meaning the new date would be 6 April. He claimed that talks were “going very well”. However, Iran denied it was “begging to make a deal”, despite Trump’s earlier claims.

It comes after Wall Street posted its biggest daily loss since the Iran war began on Thursday.

The Wall Street Journal also reported on Thursday that the US was considering sending as many as 10,000 additional troops to the Middle East.

Tony Sycamore, market analyst at IG, said Trump has extended the uncertainty gripping markets.

“While the rhetoric around de-escalation and dialogue is certainly preferable to outright conflict, the market appears to be growing increasingly numb to President Trump’s verbal reassurances. By extending the deadline, it effectively kicks the can down the road, pushing back any concrete resolution regarding the reopening of the Strait of Hormuz. This, in turn, simply extends the uncertainty weighing on markets and the broader global economy.”

Elsewhere, UK retail sales dipped by 0.4% in February, following a rise of 2.0% in January, the Office for National Statistics revealed. In the December to February quarter, sales volumes were up 0.7% compared with the previous three months.

• London’s benchmark index (^FTSE) was hovering around the flatline in early trade

• Germany’s DAX (^GDAXI) dipped 0.5% and the CAC (^FCHI) in Paris headed 0.2% into the red

• The pan-European STOXX 600 (^STOXX) was down 0.3%

• Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all lacklustre.

• The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3311

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