GWG Holdings, Inc. (Nasdaq: GWGH), the parent company of GWG Life, a financial services company committed to transforming the life insurance industry through disruptive and innovative products and services, announced that Chris Orestis, the former Chief Executive Officer of Life Care Funding, has joined the company as Executive Vice President of Life Insurance Secondary Markets.
Orestis, who has twenty years of experience in the life insurance industry, is the co-founder of Life Care Funding where he pioneered the development of long-term care funding products based on consumers’ life insurance policies. A former Washington D.C. lobbyist, Chris is a nationally known senior care advocate, a legislative expert, featured speaker, columnist and contributor to a number of insurance and long-term care industry publications and author of the Amazon best-seller book “Help on the Way,” and “A Survival Guide to Aging.” Chris is a frequent guest about senior issues on national radio programs; and has also been featured in The Wall Street Journal, The New York Times, USA Today, Fox Business News, and PBS.
“Chris brings decades of experience innovating in the life insurance industry with a focus on the secondary market and long-term care,” said GWG Holdings Chairman and Chief Executive Officer Jon Sabes. “He will play a key role as we work to build additional products and services that better serve the needs of consumers.”
In conjunction with Chris Orestis’ arrival, the company announced that President Michael Freedman will leave the company effective May 15. Freedman has been President since 2014 and has been instrumental in helping the company increase its portfolio of regulatory licenses and develop its innovative Appointed Agent program. “We greatly appreciate Michael’s contributions and his need to be closer to his home in Philadelphia after living away for three years,” Sabes said.
The company also announced that Chief Operating Officer Jon Gangelhoff is leaving the company after eight years of service to pursue his personal interests. “We appreciate the central role Jon played in building the SEC reporting and accounting infrastructure of our firm, and we wish him well in all his future endeavors,” Sabes said.
About GWG Holdings, Inc.
GWG Holdings, Inc. (Nasdaq: GWGH) the parent company of GWG Life, is a financial services company committed to transforming the life insurance industry through disruptive and innovative products and services. Already a recognized disruptor in the life insurance secondary market, GWG Life seeks to further transform the industry by continuing to create innovative products and services. As of December 31, 2016, GWG Life’s growing portfolio consisted of over $1.362 billion in face value of policy benefits. Since 2006, GWG Life has purchased over $2.3 billion in life insurance policy benefits and paid seniors more than $398 million for their life insurance.