Midwest Holding Inc., a financial services holding company, engages in underwriting and marketing life insurance products in the United States. The company offers multi-year guaranteed and fixed indexed annuity products. It also provides investment advisory and related asset management services to third-party insurers and reinsurers; and a cloud-based policy administration solution for annuity and life insurance products. The company was incorporated in 2003 and is based in Lincoln, Nebraska.
IPO Year:
Exchange: NASDAQ
Website: midwestholding.com
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4 - MIDWEST HOLDING INC. (0000355379) (Issuer)
4 - MIDWEST HOLDING INC. (0000355379) (Issuer)
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LINCOLN, Neb. and NEW YORK, Dec. 21, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), a technology-driven life and annuity platform, and Antarctica Capital ("Antarctica"), an alternative asset management firm, today announced the completion of the acquisition of Midwest by an affiliate of Antarctica. Georgette Nicholas, Chief Executive Officer of Midwest, said, "Today marks the beginning of a new chapter for Midwest, and we are excited to work with the Antarctica team to fully capitalize on our market opportunity and drive future growth. This transaction wa
LINCOLN, Neb. and NEW YORK, Dec. 14, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), a technology-driven life and annuity platform, and Antarctica Capital ("Antarctica"), an international investment firm, today announced receipt of approval from the Nebraska Department of Insurance for the acquisition of Midwest by an affiliate of Antarctica. The transaction is expected to close on or about December 20, 2023. Pursuant to the terms of the transaction, Midwest shareholders will receive $27.00 in cash per share of common stock they own immediately prior to the completion of the transaction. With the completion of the transaction, Midwest shares will cease trading and no l
LINCOLN, Neb., Nov. 13, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter and nine months ended September 30, 2023. Highlights for the third quarter of 2023: GAAP net income for the quarter was $0.4 million compared with $7.4 million for the third quarter of 2022. GAAP earnings were $0.10 per share (diluted) versus $1.96 per share (diluted) for the third quarter of 2022.GAAP total revenue was $16.4 million compared with revenue of $19.0 million in the third quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher service fees, and growing amortization of deferred ceding co
LINCOLN, Neb., Aug. 16, 2023 /PRNewswire/ -- American Life & Security Corp., a subsidiary of Midwest Holding Inc. (NASDAQ:MDWT), is proud to announce the launch of an exciting new annuity product, American Fusion. The product, distributed by American Life's IMO partners, combines key characteristics of a Multi-Year Guaranteed Annuity (MYGA) and a Fixed Index Annuity (FIA), offering the benefits of two annuity products in one. With Fusion, American Life has created its own product category: the Multi-Year Guaranteed Index Annuity, or MYGIA. American Fusion's 5-year contract offers both a 5-year guaranteed compounding interest rate and the opportunity for a bonus if the S&P 500® Index reaches
LINCOLN, Neb., Aug. 11, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter and six months ended June 30, 2023. Highlights for the second quarter 2023: GAAP net income for the quarter was negative $(3.9) million compared with a positive $9.3 million recorded in the second quarter of 2022. GAAP earnings were negative $(1.04) per share (diluted) versus $2.47 per share (diluted) in Q2 2022.GAAP total revenue in Q2 2023 was $29.1 million compared with revenue of $(0.1) million in the second quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher service fees, and growing amortiz
LINCOLN, Neb. and NEW YORK, July 26, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), a technology-driven life and annuity platform, today announced that at a special meeting of stockholders ("the Special Meeting") held earlier today, its shareholders approved the previously announced merger agreement whereby an affiliate of international investment firm Antarctica Capital will acquire Midwest for $27.00 per share in cash. According to final results from the Special Meeting, approximately 69% of the outstanding shares voted in favor of the transaction, representing more than 99% of the votes cast. Midwest will file the final, certified voting results with the U.S. Securit
LINCOLN, Neb., July 18, 2023 /PRNewswire/ -- Midwest Holding Inc. ((", Midwest", , NASDAQ:MDWT, the ", Company", )), a technology-driven life and annuity platform, today announced that leading independent proxy advisory firms Institutional Shareholder Services, Inc. ("ISS") and Glass, Lewis & Co. ("Glass Lewis") recommended that Midwest shareholders vote "FOR" the proposed acquisition of Midwest by Antarctica Capital ("Antarctica"). A special meeting of Midwest shareholders will be held virtually to vote on the transaction on July 26, 2023 at 11:00 a.m. Eastern Time (the "Special Meeting"). Shareholders of record as of the close of business on May 31, 2023, will be entitled to vote at the Sp
LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter ended March 31, 2023. First Quarter 2023 Highlights: GAAP net income for the quarter was $3.8 million compared with $0.2 million recorded in the first quarter of 2022. GAAP earnings were $1.01 per share (diluted) versus $0.05 per share (diluted) in Q1 2022.GAAP total revenue in Q1 2023 was $38.5 million compared with revenue of $2.6 million in the first quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher policy administration fees, and growing amortization of deferred ceding commissions. The mark-
LINCOLN, Neb., May 5, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT) today announced that it will release its financial and operating results for the first quarter 2023 after the close of the financial markets on Monday, May 15, 2023. The Company plans to issue a press release and post the results on the investor relations section of its website at https://ir.midwestholding.com. As announced on May 1, 2023, Midwest has entered into a definitive merger agreement to be acquired by an affiliate of Antarctica Capital for $27.00 per share in an all-cash transaction. The transaction has been unanimously approved by Midwest's Board of Directors and is expected to close in the s
All-Cash Transaction Values Midwest at Approximately $100 Million, Representing a 97% Premium LINCOLN, Neb. and NEW YORK, May 1, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), a technology-driven life and annuity platform, and Antarctica Capital ("Antarctica"), an international investment firm, today announced they have entered into a definitive merger agreement whereby an affiliate of Antarctica will acquire Midwest in an all-cash transaction valued at approximately $100 million. Under the terms of the agreement, Midwest shareholders will receive $27.00 in cash per share, representing a 97% premium to the Company's closing share price on April 28, 2023, and a 75% prem
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LINCOLN, Neb. , March 25, 2022 /PRNewswire/ -- Midwest Holding Inc. ((Midwest, NASDAQ:MDWT), a technology-driven life and annuity platform, announced that it has appointed Eric N. Berg as its new senior vice president and chief financial officer effective March 25, 2022. Berg, age 63, brings significant experience to the job with deep expertise in investment research and insurance industry analysis, having spent 23 years on Wall Street as an equity research analyst following the insurance industry. Working at such firms as Lehman Brothers, RBC Capital Markets, and Barclays Capital, Berg was awarded the designation as an All-Star analyst by Institutional Investor magazine 15 times and serve
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LINCOLN, Neb., Nov. 13, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter and nine months ended September 30, 2023. Highlights for the third quarter of 2023: GAAP net income for the quarter was $0.4 million compared with $7.4 million for the third quarter of 2022. GAAP earnings were $0.10 per share (diluted) versus $1.96 per share (diluted) for the third quarter of 2022.GAAP total revenue was $16.4 million compared with revenue of $19.0 million in the third quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher service fees, and growing amortization of deferred ceding co
LINCOLN, Neb., Aug. 11, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter and six months ended June 30, 2023. Highlights for the second quarter 2023: GAAP net income for the quarter was negative $(3.9) million compared with a positive $9.3 million recorded in the second quarter of 2022. GAAP earnings were negative $(1.04) per share (diluted) versus $2.47 per share (diluted) in Q2 2022.GAAP total revenue in Q2 2023 was $29.1 million compared with revenue of $(0.1) million in the second quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher service fees, and growing amortiz
LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the quarter ended March 31, 2023. First Quarter 2023 Highlights: GAAP net income for the quarter was $3.8 million compared with $0.2 million recorded in the first quarter of 2022. GAAP earnings were $1.01 per share (diluted) versus $0.05 per share (diluted) in Q1 2022.GAAP total revenue in Q1 2023 was $38.5 million compared with revenue of $2.6 million in the first quarter of 2022, driven by an increase in investment income from growth in invested assets retained, higher policy administration fees, and growing amortization of deferred ceding commissions. The mark-
LINCOLN, Neb., May 5, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT) today announced that it will release its financial and operating results for the first quarter 2023 after the close of the financial markets on Monday, May 15, 2023. The Company plans to issue a press release and post the results on the investor relations section of its website at https://ir.midwestholding.com. As announced on May 1, 2023, Midwest has entered into a definitive merger agreement to be acquired by an affiliate of Antarctica Capital for $27.00 per share in an all-cash transaction. The transaction has been unanimously approved by Midwest's Board of Directors and is expected to close in the s
LINCOLN, Neb., March 27, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the fourth quarter and full year ended December 31, 2022. Fourth Quarter and Full Year 2022 Highlights: GAAP net income for the year was $7.1 million compared with a $(16.6) million net loss recorded in 2021. GAAP earnings were $1.88 per share (diluted) versus a ($4.45) per share (diluted) loss in the prior year. For the fourth quarter 2022, a GAAP net loss of $(9.7) million was incurred compared to a loss of $(7.0) million in the prior year fourth quarter driven by lower investment income from other invested assets and an increase in other expenses related to l
LINCOLN, Neb., March 6, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT) today announced plans to host a conference call to discuss its financial and operating results for the fourth quarter and full year of 2022 on Tuesday, March 28, 2023, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com after the close of the financial markets on Monday, March 27, 2023. To register for this conference call, please use the following link: https://www.netroadshow.com/events/login?show=adad8263&confId=46432 Registrants will receive a confirmation email with dial-in details. The call ma
LINCOLN, Neb., Nov.14, 2022 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the third quarter of 2022. Third Quarter 2022 Highlights: GAAP net income was $7.4 million compared to a $(3.1) million GAAP net loss incurred in the third quarter of 2021. GAAP earnings were $1.96 per share (diluted) versus the $(0.82) per-share loss in Q3 2021.GAAP total revenue was $19.0 million compared to total revenue of $5.8 million in the third quarter of 2021. Total revenue was increased by net investment income of $12.9 million compared to $6.2 million in third quarter of 2021, as invested assets grew to $1.4 billion as of September 30, 2022, compared
LINCOLN, Neb., Oct. 20, 2022 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT) today announced plans to host a conference call to discuss its financial and operating results for the third quarter of 2022 on November 15, 2022, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com after the close of the financial markets on November 14, 2022. To register for this conference call, please use the following link: https://www.netroadshow.com/events/login?show=7e33e531&confId=42860 Registrants will receive a confirmation email with dial-in details. The call may also be accessed via we
LINCOLN, Neb., Aug. 15, 2022 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT), today announced financial results for the second quarter of 2022. Second Quarter 2022 Highlights: GAAP net income was $9.3 million compared to a $(5.0) million GAAP net loss incurred in the second quarter of 2021. GAAP earnings were $2.47 per share (diluted) versus the $(1.34) per-share loss in Q1 2021.GAAP total revenue was slightly negative at $(122,000) compared to total revenue of $8.9 million in the second quarter of 2021. Total revenue was increased by net investment income of $10.5 million compared to $3.2 million in second quarter of 2021, as invested assets grew to $1.2 billion as of June 30
LINCOLN, Neb., Aug. 4, 2022 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ:MDWT) today announced plans to host a conference call to discuss its financial and operating results for the second quarter of 2022 on August 16, 2022, at 8:30 a.m. Eastern Time. The Company also plans to post those results on the investor relations section of its website at https://ir.midwestholding.com after the close of the financial markets on August 15, 2022. To register for this conference call, please use the following link: https://ige.netroadshow.com/registration/q4inc/11308/midwest-holding-inc-reports-second-quarter-2022-results/ . Registrants will receive a confirmation email with dial-in details
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