Indeed $L = \Sigma^\ast$. Here is a proof.
Clearly, $L \subseteq \Sigma^\ast$, so it suffices to show $\Sigma^\ast \subseteq L$. Let $w \in \Sigma^\ast$. We start with an arbitrary decomposition $w = uv$. If $|u|_a = |v|_b$ we are done. Otherwise, wlog let $|u|_a < |v|_b$. Then by moving the cutpoint one step to the right, i.e. considering the decomposition $uv_1, v_2 \ldots v_m$, we increase either the number of $a$s in $u$ (if $v_1 = a$) or decrease the number of $b$s in $v$ (if $v_1 = b$), so the absolute value of the difference $||v|_b - |u|_a|$ is reduced by $1$ after such a step. Since this difference is bounded from below by $0$ the procedure terminates after finitely many steps.
(If $\Sigma$ contains more symbols than $a, b$ the argument works the same way but the difference might stay the same in some steps.)