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MINNEAPOLIS, May 12, 2016 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (NASDAQ:GWGH) (“GWG” or “the Company”), a specialty finance company and a leader in the life insurance secondary market, today announced its portfolio of life insurance policies has exceeded $1 billion in face value of benefits.
A photo accompanying this announcement is available at
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This achievement comes as the Company continues to lead innovation in the secondary market for life insurance. One key example is the Appointed Agent program, a proprietary policy origination initiative that enables insurance and financial professionals to easily help their clients access the value of their policies through the life insurance secondary market by working with GWG.
“The diversification of our policy origination platform has resulted in a significant increase in the number of policies received and purchased directly through our Appointed Agents,” said Michael Freedman, GWG President.
As of March 31, 2016, the Appointed Agent program accounted for 23 percent of the total pipeline of life insurance policies under review by GWG, and 13 percent of all policies purchased in the first quarter. As previously reported, GWG purchased 75 new life insurance policies in the first quarter of 2016 with an aggregate of $102 million in face value of benefits.
“GWG is realizing its goal of being a new leader for a new era in the life insurance secondary market,” Freedman said. “GWG is operating an industry-leading system for underwriting and purchasing policies that is well-suited for the life insurance secondary market. We believe our ability to intake, price, and close cases efficiently sets GWG apart and underscores our leadership in this marketplace.”
About GWG Holdings, Inc.
GWG Holdings, Inc. (NASDAQ:GWGH) is a specialty finance company and a leader in the secondary market for life insurance. GWG is dedicated to creating a vibrant secondary life insurance market for the economic benefit of seniors seeking post-retirement financial solutions, investors seeking yield derived from non-correlated assets, financial advisors seeking value-added products and services for their clients, and shareholders seeking to benefit from the growth of this marketplace. As of March 31, 2016, GWG’s growing portfolio consisted of over $1.0 billion in face value of benefits. Since 2006, GWG has purchased nearly $2 billion in life insurance policy benefits and paid seniors over $335 million for their policies.
For more information about GWG, email info@gwglife.com or visit www.gwglife.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans and objectives of management are forward-looking statements. The words "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "would," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements include, among other things, statements about our estimates regarding future revenue and financial performance. We may not actually achieve the expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the expectations disclosed in the forward-looking statements we make. More information about potential factors that could affect our business and financial results is contained in our filings with the Securities and Exchange Commission. Additional information will also be set forth in our future quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings that we make with the Securities and Exchange Commission. We do not intend, and undertake no duty, to release publicly any updates or revisions to any forward-looking statements contained herein.
Media contacts:
Kiersten Williams
G&S Business Communications
(919) 870-5718, x3155
kwilliams@gscommunications.com
Betsy Taube
G&S Business Communications
919.870.5718, x3221
btaube@gscommunications.com
GWG Holdings, Inc.
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