GWG Holdings, Inc. (“GWG”) announced today that Mr. Paul Siegert, its President and Chairman, has been elected to the Board of Directors of the Life Insurance Settlement Association (“LISA”), the leading trade organization of the life insurance secondary market. Mr. Siegert will serve a two year term on the Board and will begin the term as LISA’s Vice-Chairman. GWG believes Mr. Siegert’s leadership will help advance LISA’s objectives to increase knowledge and understanding of the secondary market, advance professional standards and best practices, and promote quality and transparency in life insurance based investments.
About Paul A. Siegert: Mr. Siegert is co-founder, President and Chairman of GWG Holdings, Inc. Mr. Siegert also co-founded the Insurance Studies Institute where he presides as President and CEO (see www.InsuranceStudies.org). Mr. Siegert’s career spans over 50 years with national and international businesses focused on financial markets and capital investments. He operates from his base in Keystone, Colorado and has been active in a variety of charities and foundations, including Rotary International.
About the Life Insurance Settlement Association: Established in 1995, the Life Insurance Settlement Association is the oldest and largest trade organization in the secondary market for life insurance. LISA’s goal is to promote development, integrity, and reputation of the secondary market of life insurance and to promote a competitive market for the people it serves. LISA members represent a wide variety of interests in the industry including brokers, settlement providers, life expectancy underwriters, investors, attorneys, trust companies, and others. For more about LISA, visit www.lisa.org.
About GWG Holdings, Inc.: GWG is engaged in the secondary market of life insurance. GWG acquires life insurance policies in the secondary market from policy owners who sell their policies at a price greater than the cash surrender value, but less than the face value of the policy’s benefit. GWG purchases policies, through its subsidiaries, directly from policy owners in the states it is licensed to do so, and through other licensed providers. GWG’s strategy is to acquire a large, diverse portfolio of life insurance policies and continue to pay the premiums and generally hold the policies to maturity, in order to ultimately collect the policy’s face value. For more information about GWG, email: email@example.com, or visit www.gwglife.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. We have based these forward-looking statements on our current expectations, assumptions and projections about future events using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements are subject to risks, uncertainties and assumptions about our operations and the investments we make, including, among other things, factors discussed in our filings with the Securities and Exchange Commission and the following: changes in the secondary market for life insurance; our limited operating history; the valuation of assets reflected on our financial statements; the reliability of assumptions underlying our actuarial models; our reliance on debt financing; risks relating to the validity and enforceability of the life insurance policies we purchase; our reliance on information provided and obtained by third parties; federal and state regulatory matters; additional expenses, not reflected in our operating history, related to being a public reporting company; competition in the secondary life insurance market; the relative illiquidity of life insurance policies; life insurance company credit exposure; economic outlook; performance of our investments in life insurance policies; financing requirements; litigation risks; and restrictive covenants contained in borrowing agreements. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.