Midwest Holding Inc. Announces its Subsidiary, American Life & Security Corp., Joins FHLBank Topeka
Midwest Holding Inc. (MDWT) announced that its subsidiary, American Life & Security Corp. (ALSC), has been approved as a member of the Federal Home Loan Bank of Topeka. This membership will provide ALSC with access to wholesale products and services, enhancing its capacity to offer mortgage credit and compete in the market. Founded over 60 years ago and revitalized in 2018, ALSC aims to transform the life and annuity insurance landscape using modern technology for efficiency and transparency.
- ALSC gains membership with FHLBank Topeka, enhancing access to wholesale products.
- Increased capacity to offer mortgage credit and compete effectively in the marketplace.
- None.
Midwest Holding Inc. ("Midwest") (NASDAQ: "MDWT"), a rapidly growing, technology-enabled, services-oriented annuity platform, announced today that The Federal Home Loan Bank of Topeka ("FHLBank Topeka") has approved Midwest’s subsidiary, American Life & Security Corp. ("ALSC") as a member organization. FHLBank Topeka is one of 11 Federal Home Loan Banks across the country. Through this new membership, American Life will have access to wholesale products, services and programs to help them expand the availability of mortgage credit, and compete more effectively in their markets.
About American Life & Security Corp.
American Life & Security Corp is a wholly owned subsidiary of Midwest Holding Inc, an SEC registrant and publicly traded holding company. American Life was originally founded over 60 years ago. In 2018, the company was recapitalized and reimagined from the ground up by a team of seasoned insurance, technology and investment experts with a new purpose; Build a platform on modern technology with simplicity, transparency and cost efficiency in mind to correct the inefficiencies of the life and annuity industry. This innovative and capital efficient approach protects customers interests, by creating a fair and optimized supply chain. ALSC continues to expand product offerings, market reach and reinsurance capacity all combine to create a capital efficient insurance carrier built for the modern age. For more information, please visit www.american-life.com
About the Federal Home Loan Bank of Topeka
FHLBank Topeka, is a cooperative of financial institutions in Colorado, Kansas, Nebraska and Oklahoma. Nearly 700 insurance companies, banks, thrifts, credit unions and community development financial institutions are FHLBank Topeka members. For more information about the program please visit https://www.fhlbtopeka.com/products on FHLB Topeka's website.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934, as amended, including statements of goals, intentions, and expectations as to future trends, plans, events or results of Midwest’s operations and policies and regarding general economic conditions. These forward-looking statements are based on current expectations that involve risks, uncertainties and assumptions. Because of these uncertainties and the assumptions on which the forward-looking statements are based, actual future operations and results in the future may differ materially from those indicated herein and include whether our membership with FHLBank Topeka represents an achievement that will enhance American Life. Readers are cautioned against placing undue reliance on any such forward-looking statements. For details on factors that could affect these expectations, see the risk factors and other cautionary language included in Midwest’s filings with the SEC, which can be obtained online at the website of the U.S. Securities and Exchange Commission at http://www.sec.gov. Except as required by law, Midwest does not undertake to update forward-looking statements contained in this release.
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FAQ
What recent membership did Midwest Holding's American Life & Security Corp. achieve?
How does the membership with FHLBank Topeka benefit MDWT?
When was American Life & Security Corp. founded?
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What technology approach does ALSC focus on?
