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MINNEAPOLIS, Dec. 28, 2016 -- GWG Holdings, Inc. (Nasdaq:GWGH), a specialty finance company in the life insurance secondary market, has increased the number of financial advisors who are able to sell GWG’s investment products by more than 34 percent over the course of 2016.
In addition to those 4,300 financial advisors from 107 firms across the U.S., GWG has more than 2,900 life insurance agents who have signed up to be able to source life insurance policies for GWG’s Appointed Agent program.
The increasing connection to financial professionals demonstrates the growth GWG has experienced during 2016. As of Sept. 30, 2016, total revenue was up over 56 percent from the prior year to $52.6 million. And the company reported it had recognized policy benefits in 10 consecutive calendar months through October 2016.
GWG also announced it has exercised an option with the University of California, Los Angeles (UCLA) for the exclusive license of “DNA Methylation-Based Predictor of Mortality” technology it believes can be integrated into its actuarial underwriting to enhance its current business and enable it to explore even greater opportunities.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq:GWGH) is a specialty finance company in the life insurance secondary market. GWG is dedicated to creating a vibrant life insurance secondary market for the economic benefit of seniors with life insurance who are 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 gain from the realization of this marketplace. As of September 30, 2016, GWG’s growing portfolio consisted of $1.27 billion in face value of policy benefits. Since 2006, GWG has purchased over $2 billion in life insurance policy benefits and paid seniors $357 million for their life insurance.
For more information about GWG Holdings, email [email protected] 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: Dan Callahan GWG Holdings, Inc. (612) 746-1935 [email protected] Matt Ehlers G&S Business Communications (919) 870-5718, x3221 [email protected]
