Midwest Holding Inc. Shareholders Approve Transaction With Antarctica Capital
$MDWT
Life Insurance
Finance
Midwest Holding Inc. Shareholders Approve Transaction With Antarctica Capital
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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-
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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. 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