MINNEAPOLIS, June 09, 2016 (GLOBE NEWSWIRE) -- GWG Holdings, Inc. (GWG) (Nasdaq:GWGH), a specialty finance company and a leading purchaser of life insurance policies in the secondary market, announced that President Michael Freedman was re-elected Vice Chairman of the Board of Directors of the Life Insurance Settlement Association (LISA).
As Vice Chairman, Freedman will continue to advance the best interests of life insurance policy owners seeking to maximize the value of their life insurance policies. And, as he has since starting in this market 15 years ago, he will further the best practices of the secondary market. In addition, Freedman is the Chairman of the association’s Legislative and Regulatory Affairs Committee and will help lead the planning of LISA’s 22nd Annual Fall Conference in Scottsdale, Arizona, in October.
“Michael has been a passionate and tireless advocate for seniors and their families, and his work is reflected in the growing life settlement market,” said Darwin Bayston, President and Chief Executive Officer of LISA. “He has been an influential force as a Board member since 2014 and as Vice Chair last year. I’m confident about LISA’s ongoing growth potential with Michael in these roles.”
A driving force behind life settlement legislation
Freedman is an established expert in the secondary market for life insurance. He became President of GWG in 2014 and was elected to LISA’s Board of Directors the same year. His appointment as Vice Chairman followed in 2015. In the years prior, Freedman founded Sentinel Solutions, LLC, a strategic services provider specializing in life settlement, insurance, and other business interests. As Senior Vice President of Government Affairs at Coventry First, LLC, he was the driving force behind more than 60 pieces of life settlement legislation and several federal laws. Freedman holds a J.D. from the State University of New York at Buffalo School of Law.
“Now more than ever, seniors need post-retirement financial solutions including finding ways to help pay down debt or cover the costs of long-term care and other medical expenses,” said Freedman. “I’m excited to continue working on behalf of LISA’s members to raise awareness about the growing life settlement industry among consumers, financial advisors, and public policymakers.”
About the Life Insurance Settlement Association (LISA)
LISA is the oldest and largest national organization representing participants in the life settlement industry. The mission of LISA is to advance the highest standards of practice and professional development for the industry, and to educate consumers and advisors about a life settlement as an alternative to lapse or surrender of a life policy.
About GWG Holdings, Inc.
GWG Holdings, Inc. (GWG) (Nasdaq:GWGH) is a specialty finance company and a leading purchaser of life insurance in the secondary market. GWG is dedicated to creating a vibrant secondary life insurance market for the economic benefit of seniors 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 benefit from the growth of this marketplace. As of March 31, 2016, GWG’s growing portfolio consisted of over $1.0 billion in face value of benefits. Since 2006, GWG has purchased nearly $2 billion in life insurance policy benefits and paid seniors over $335 million for their policies.
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.
Source:GWG Holdings, Inc.