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Coventry files counterclaims against Abacus in life settlement lawsuit
Coventry is seeking compensatory and punitive damages, lost profits, and attorneys’ fees, accusing Abacus of using life expectancy estimates it says were systematically too short.
Coventry First and chairman Alan Buerger filed their answer and three counterclaims against Abacus Global Management in a dispute tied to life expectancy estimates used in life settlement policies, escalating the legal battle in the U.S. District Court for the Middle District of Florida, according to Coverager.
The 97-page filing denies Abacus’s remaining claims and argues the statements at issue were true, while Coventry also brings counterclaims under the Florida Anti-SLAPP Act and the Florida Viatical Settlements Act.
Coventry said the dispute centers on Lapetus Solutions, a now-defunct life expectancy provider formerly used by Abacus, alleging Abacus knowingly relied on Lapetus estimates that were systematically too short to increase the reported value of policies and generate gains through sales to affiliated funds.
Coventry is seeking compensatory and punitive damages, lost profits, and attorneys’ fees and costs, citing studies and analyses that, it says, found Lapetus produced shorter estimates in the majority of matched cases, including a February 2025 update that placed Lapetus’s actual-to-expected ratio at 31% versus more than 90% for other providers.