MINNEAPOLIS, July 19, 2018 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (Nasdaq:GWGH), the parent company of GWG Life, a financial services company that is transforming the life insurance industry through disruptive and innovative products and services, announced its portfolio exceeded 1,000 life insurance policies representing more than $1.85 billion in face value of benefits, a milestone that demonstrates the growth and stability the 12-year-old company has achieved in the life insurance secondary market.
“Our portfolio growth represents the strength of the value we provide to seniors across the country,” said Jon Sabes, Chief Executive Officer. “Reaching 1,000 policies has long been an important goal for us as a larger portfolio represents a more consistent source of revenues and cash flows, giving us more financing options and establishes a solid foundation for our continued growth.”
As of June 30, 2018, GWG Holdings owned 1,010 policies with a face value of $1.85 billion. This represents a 27 percent year-over-year increase in insurance portfolio growth since June 30, 2017.
Founded in 2006, GWG Holdings has been creating innovative solutions for owners of life insurance. LifeCareXchange® empowers seniors to exchange a life insurance policy into another benefit plan as a way to solve the “failure to plan” crisis of long-term care costs facing seniors and their families across the U.S. The exchange value GWG Life has provided seniors is more than ten times the surrender value offered by insurance carriers on those same life insurance policies.
In 2015, GWG Holdings started an insurtech initiative to apply epigenetic lifespan-predictive technology to the life insurance industry. In 2017, GWG Holdings’ wholly owned subsidiary Life Epigenetics exclusively licensed lifespan-predictive technology from University of California, Los Angeles (UCLA). GWGH and Life Epigenetics have been developing step-change technology aimed at transforming the entire life insurance value chain from application to reinsurance including the secondary market for life insurance in which the company is already an established leader.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) is a financial services company committed to transforming the life insurance industry through innovative products and services. The Company was founded to earn non-correlated returns from life insurance assets and create opportunities for consumers to obtain significantly more value for their life insurance policies from the secondary market compared to the traditional options offered by the insurance industry. The Company is extending its business in the life insurance industry through the application of advanced epigenetic technology. Since 2006, the Company has provided seniors over $498 million in value for their life insurance and owns a portfolio of $1.85 billion in face value of policy benefits as of June 30, 2018.
For more information about GWG Holdings, Inc. email info@gwglife.com or visit www.gwgh.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.
Contact:
For GWG Holdings, Inc.
Dan Callahan
Director of Communication
612.746.1935