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Segment Reporting
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has two reportable segments consisting of Secondary Life Insurance and Beneficient. Corporate & Other includes certain activities not allocated to specific business segments. These activities include holding company financing and investing activities, and management and administrative services to support the overall operations of the Company and from November 1, 2019, include our equity method investment in FOXO.
The Secondary Life Insurance segment seeks to earn non-correlated yield from our portfolio of life insurance policies. Our Beneficient segment consists of the assets and operations of Ben LP and its subsidiaries. Beneficient became a consolidated subsidiary of GWG Holdings as of December 31, 2019, as described in Note 4. Ben LP provides a variety of trust services, liquidity products and loans for alternative assets and illiquid investment funds, and other financial services to mid-to-high net worth individuals. Prior to December 31, 2019, we accounted for our investment in the Common Units under the equity method.
These segments are differentiated by the products and services they offer as well as by the information used by the Company’s chief operating decision maker to determine allocation of resources and assess performance.
Earnings before taxes (“EBT”) is the measure of profitability used by management to assess performance of its segments and allocate resources. Segment EBT represents net income (loss) excluding income taxes and includes earnings (loss) from equity method investments and gain on consolidation of equity method investment.
Three Months Ended
June 30,		Six Months Ended
June 30,
Revenue:2020201920202019
Secondary Life Insurance$15,230  $20,778  $30,378  $42,961  
Beneficient53,543  3,144  71,952  6,014  
Corporate & Other16  88  16  252  
Total$68,789  $24,010  $102,346  $49,227  
Three Months Ended
June 30,		Six Months Ended
June 30,
Interest Expense:2020201920202019
Secondary Life Insurance$24,346  $21,608  $47,039  $41,704  
Beneficient12,796  6,879  25,974  13,758  
Corporate & Other—  —  —  —  
Total$37,142  $28,487  $73,013  $55,462  
Three Months Ended
June 30,		Six Months Ended
June 30,
Interest Income:2020201920202019
Secondary Life Insurance$232  $737  $847  $1,368  
Beneficient12,439  3,144  25,813  5,969  
Corporate & Other—  —  —  4  
Total$12,671  $3,881  $26,660  $7,341  
 Three Months Ended
June 30,		Six Months Ended
June 30,
Segment EBT:2020201920202019
Secondary Life Insurance$(12,446) $(9,000) $(27,167) $(10,623) 
Beneficient17,621  (3,136) (52,528) (9,072) 
Corporate & Other(6,424) (9,195) (13,577) (16,250) 
Total(1,249) (21,331) (93,272) (35,945) 
Income tax benefit(8,550) —  (23,057) —  
Net income (loss)$7,301  $(21,331) $(70,215) $(35,945) 
Total Assets:June 30, 2020December 31, 2019
Secondary Life Insurance$955,032  $904,363  
Beneficient2,718,544  2,721,546  
Corporate & Other45,061  9,297  
Total$3,718,637  $3,635,206  
The total assets of the Beneficient segment at both June 30, 2020 and December 31, 2019 includes goodwill of $2.4 billion, which represents all of the goodwill on the Company's consolidated balance sheet as of the end of each reporting period.