ORLANDO - Abacus Life, Inc. (NASDAQ: ABL), an established buyer of life insurance policies and alternative asset manager, announced the appointment of Elena Plesco as its new Chief Capital Officer. Ms. Plesco brings over ten years of investment experience to the company, joining from global investment firm KKR, where she co-led the Specialty Finance sector.
In her previous roles, Ms. Plesco has been involved in various mergers, acquisitions, and advisory transactions while at J.P. Morgan's investment banking division. At Abacus, she will be responsible for overseeing the company's capital management strategies and supporting its global expansion efforts.
Abacus CEO Jay Jackson expressed enthusiasm about Ms. Plesco's addition to the team, highlighting her extensive investing and financing experience as a valuable asset for the company's future growth.
Ms. Plesco also shared her excitement about joining Abacus, recognizing the management team's achievements and expressing her eagerness to contribute to the company's long-term growth strategy.
Abacus, which specializes in longevity and actuarial technology, has been a pioneer in the life insurance marketplace since 2004. Abacus operates in 49 states and prides itself on compliance with HIPAA and privacy laws to protect clients' confidential information.
This news is based on a press release statement.
InvestingPro Insights
Abacus Life, Inc. (NASDAQ: ABL) has recently made a strategic addition to its executive team, which could signal a continued push towards growth and value creation. InvestingPro data shows that Abacus Life is trading at a high Price/Earnings (P/E) ratio of 74.42 as of the last twelve months ending Q4 2023, indicating high expectations from investors for future earnings growth. Additionally, the company's Price/Book (P/B) ratio stands at 4.73, suggesting that the market values it more than its book value.
One of the key InvestingPro Tips points out that Abacus Life has experienced a significant price uptick, with a 68.88% total return over the last six months, reflecting strong investor confidence. Moreover, the company has been profitable over the last twelve months, which aligns with the positive momentum seen in its stock price performance.
Investors should note that Abacus Life does not pay a dividend, which could be a consideration for those seeking income-generating investments. However, for those focused on capital appreciation, the company's strong return over the last three months of 18.89% is a noteworthy highlight. With Ms. Plesco's expertise now part of the team, Abacus Life may be well-positioned to capitalize on its robust financials and market position.
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