GWG Life (GWG)

GWG Holdings, Inc. (NASDAQ: GWGH) (GWG) is a specialty finance company and a leader in the life settlement market. GWG’s goal is to generate financial returns for GWG’s investors and shareholders while providing valuable financial solutions to seniors. GWG finances the purchase and maintenance of its portfolio of policies primarily through a fixed income alternative investment product that is offered through independent broker-dealers and registered investment advisors across the country. GWG Life purchases life insurance policies from seniors who no longer want, need or can afford their policies. GWG Life typically pays these seniors five to eight times more than the cash surrender values paid by insurance companies. GWG Life’s strategy is to efficiently source, own, and manage these non-correlated assets at yields that exceed the costs needed to purchase and finance the policies (in aggregate). Since 2006, GWG Life has purchased more than $1.7 billion in life insurance policy benefits. GWG Life has paid seniors over $283 million through life settlements – approximately $266 million more than the surrendered value offered by their insurance carriers. As of early April 2022, GWG Holdings was preparing for Chapter 11 bankruptcy after missing multiple filing deadlines of its financial statements in the recent years.