Welcome to our dedicated page for Midwest Holding news (Ticker: MDWT), a resource for investors and traders seeking the latest updates and insights on Midwest Holding stock.
Midwest Holding Inc. (NASDAQ: MDWT) is a technology-driven life and annuity platform dedicated to revolutionizing the insurance industry. The company designs and develops annuity products tailored to U.S. retirees, leveraging independent distribution channels to reach its market. Midwest's unique approach integrates insurance, technology, and investment expertise, aiming to enhance the insurance value chain by reducing costs, increasing value, and improving customer experience.
One of Midwest's key offerings is the development and management of annuities, which are typically transferred to asset managers and third-party investors through reinsurance arrangements. This innovative model not only caters to the growing demand for retirement solutions but also provides a dependable operational and regulatory infrastructure for asset managers to create and manage their own reinsurance capital vehicles.
Midwest's commitment to innovation is further highlighted by their latest product launch, American Fusion, a unique Multi-Year Guaranteed Index Annuity (MYGIA) that combines features of both MYGA and Fixed Index Annuities. This product offers guaranteed growth with additional market-linked benefits, ensuring a balanced and secure investment for retirees.
Financially, Midwest has demonstrated resilience and growth. Despite a net loss in Q2 2023 compared to Q2 2022, the investment income and service fee revenue have shown substantial increases, reflecting strong performance and strategic investments. Recently, Midwest shareholders approved a merger with Antarctica Capital, an international investment firm. This acquisition, valued at $27.00 per share, is expected to close by the end of 2023, marking a new chapter for Midwest as it aims to capitalize on greater market opportunities and drive future growth.
Midwest Holding Inc. (NASDAQ: MDWT) has announced a conference call set for November 12, 2021, at 12:00 p.m. ET to discuss its Q3 2021 financial and operational results. The earnings report will be released after market close on November 11, 2021, and will be accessible on their investor relations website. Midwest is focused on providing technology-enabled annuity services, targeting a growing demographic of U.S. retirees through independent distribution channels.
Midwest Holding Inc. (NASDAQ: MDWT) has appointed Georgette C. Nicholas as President and Chief Financial Officer, effective September 8, 2021. With over 30 years of experience in the financial services sector, including leadership roles at Genworth, Nicholas aims to enhance Midwest's strategy and operational effectiveness. Co-CEO Mike Minnich expressed confidence that her expertise will bolster the company’s commitment to providing value to customers and partners. The firm operates as a technology-enabled platform focused on life and annuity products for U.S. retirees.
Midwest Holding Inc. (NASDAQ: MDWT) reported a solid second quarter for 2021 with GAAP revenue of $8.9 million, a significant recovery from a loss of $12.5 million in Q2 2020. The net loss narrowed to $5.0 million from $16.6 million year-over-year. Notably, annuity direct written premiums surged 26% to $125.9 million, and management revenue climbed 184% to $9.1 million. The company is advancing its technology and infrastructure to support long-term growth while expanding distribution efforts.
Midwest Holding Inc. (NASDAQ: MDWT) plans to host a conference call to discuss its second quarter 2021 financial results on August 13, 2021, at 12:00 p.m. Eastern Time. The company will also release its Q2 results after the market closes on August 12, 2021. Interested parties can pre-register for the call via a provided link. The company specializes in technology-enabled annuity products targeted at U.S. retirees, managing and transferring these annuities through reinsurance arrangements.
Midwest Holding Inc. (MDWT), a provider of technology-enabled life and annuity services, announced a strategic reinsurance agreement with American Republic Insurance Company (ARIC). Effective January 1, 2021, ARIC will assume a 20% quota share of certain Multi-Year Guaranteed Annuity (MYGA) and Fixed-Income Annuity (FIA) policies issued by Midwest's subsidiary, American Life & Security Corp., up to $100 million in premiums. This agreement strengthens Midwest's insurance-as-a-service platform and enhances its focus on high-level reinsurance relationships.
Midwest Holding Inc. (NASDAQ: MDWT), a growing technology-enabled annuity platform, announces that Co-Founders and Co-CEOs, Mike Minnich and Michael Salem, will speak at Piper Sandler's Virtual Midwest Life Insurance Tour on May 20th at 9:30 am Central Time. The session, led by Senior Research Analyst John Barnidge, will cover Midwest's performance, management's vision, and insights on the insurance services sector.
Midwest specializes in creating annuity products for U.S. retirees and facilitates reinsurance arrangements for asset managers and investors.
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.
Midwest Holding Inc. (NASDAQ: MDWT) will host a conference call on May 14, 2021, at 12:00 p.m. Eastern Time to discuss its financial and operating results for Q1 2021. The company will release its results on May 13, 2021, after market closure. Interested parties can pre-register for the call and access the webcast through provided links. Midwest specializes in annuity products aimed at U.S. retirees and facilitates reinsurance arrangements with asset managers and investors.
Midwest Holding Inc. (NASDAQ: MDWT) has been added to the Russell 2000® Index as part of its quarterly IPO additions, a move that aims to enhance the company's visibility among investors. Co-CEO Michael Salem expressed optimism about this achievement, asserting it reflects Midwest's growth trajectory and commitment to delivering stakeholder value. Midwest is a tech-driven annuity platform catering to U.S. retirees, managing and transferring annuities through reinsurance arrangements. This inclusion may attract more institutional investment, bolstering the company's market position.
Midwest Holding Inc. (NASDAQ: MDWT) reported its financial results for Q4 and the fiscal year 2020, highlighting its growth as a technology-enabled annuity platform. The company focuses on developing annuity products for U.S. retirees, managing reinsurance arrangements, and providing necessary operational infrastructure. The detailed financial results can be found in the Stakeholder Letter on the investor relations website. A conference call to discuss the results is scheduled for March 15, 2021, at 5:30 p.m. ET.
FAQ
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