Profile: GWG Holdings Inc (GWGH.PH)
8 Apr 2019
GWG Holdings, Inc., incorporated on March 19, 2008, is the parent company of GWG Life, is a financial services company. The Company is focused on transforming the life insurance industry through its products and services. The Company has developed a new suite of options for the life insurance secondary market called LifeCare Xchange (LCX). This new capability provides seniors with the exchange value of their life insurance policies they can apply to long-term care and other post-retirement needs. Through its subsidiary GWG Life, LLC, seeks to further transform the industry by applying proprietary M-Panel epigenetic technology to disrupt traditional life insurance underwriting practices.
The Company creates opportunities for consumers owning life insurance to obtain value for their policies as compared to the traditional options offered by insurance companies. It also creates opportunities for investors to participate in alternative asset classes, such as life insurance, not correlated to traditional financial markets. It generally purchases life insurance assets directly from policy owners having purchased their life insurance in the primary market. Its operational platform offers various options to customers based on the market value of their life insurance. The Company conducts its life insurance related business through its subsidiaries, GWG Life, LLC (GWG Life), and GWG Life's subsidiaries, GWG Trust (Trust), GWG DLP Funding II, LLC (DLP II) and GWG DLP Funding III, LLC (DLP III). The Company generally purchases life insurance assets directly from policy owners having purchased their life insurance in the primary market.
The Company focuses on purchasing life insurance assets through its origination practices and underwriting procedures. The Company obtains life expectancies from independent third-party medical-actuarial underwriting firms. The Company's operational platform offers various options to customers based on the market value of their life insurance, including selling the entire policy benefit for cash, or selling a portion of the policy benefit and retaining a portion of the benefit with no future premium obligation.
GWG Holdings Inc
220 S 6th St Ste 1200
MINNEAPOLIS MN 55402-4512