Reinsurance News
Midwest Holding
Midwest Holding acquisition by Antarctica Capital completes
22nd December 2023
Midwest Holding Inc. has announced the completion of the acquisition of Midwest by an affiliate of Antarctica. If you recall, the transaction was first announced in May when the two firms entered into a definitive merger agreement. Then in July, it was confirmed that Midwest Holding's shareholders had approved the ... Read the full article
Midwest Holding shareholders approve merger agreement with Antarctica Capital
31st July 2023
Midwest Holding Inc. has announced that its shareholders have approved the previously announced merger agreement whereby an affiliate of international investment firm Antarctica Capital will acquire Midwest. At a special meeting of stockholders it was decided that the merger will take place for $27.00 per share in cash. According to the final ... Read the full article
Midwest shareholders advised to vote “FOR” proposed acquisition by Antarctica Capital
19th July 2023
Midwest Holding Inc. has announced that independent proxy advisory firms Institutional Shareholder Services, Inc. (ISS) and Glass Lewis recommended that Midwest shareholders vote "FOR" the proposed acquisition of Midwest by Antarctica Capital In May it was reported that Midwest and investment firm Antarctica Capital entered into a definitive merger agreement ... Read the full article
Midwest Holding reports improved net income in Q1
16th May 2023
Midwest Holding Inc. has reported a GAAP net income of $3.8 million for the first quarter of 2023, a substantial improvement compared to $0.2 million that was recorded in the prior year quarter. GAAP total revenue in Q1 was $38.5 million compared with revenue of $2.6 million in the same period last year. The company ... Read the full article
Midwest Holding to be acquired by Antarctica Capital for $100 million
2nd May 2023
Midwest Holding Inc. and investment firm Antarctica Capital 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. According to Midwest, under the terms of the agreement, its shareholders will receive $27.00 in cash per share, representing ... Read the full article
Midwest Holding reports substantial improvement in Q3 net income
15th November 2022
Midwest Holding Inc. has posted a $7.4 million GAAP net income for the third quarter of 2022 against a $3.1 million loss from the third quarter of 2021. Net investment income in 2022's third quarter was $12.9 million compared with $6.2 million in the prior- year's third quarter. Alongside the year-on-year improvement in net income, Midwest also ... Read the full article
Midwest Holdings reports strong performance in Q2 net income
16th August 2022
Midwest Holding Inc. has announced a GAAP net income of $9.3 million for the second quarter of 2022, against a loss of $5 million for the prior year period. Alongside the year-on-year improvement in net income, Midwest also reported a substantial rise in non-GAAP annuity direct written premium at $156 million, ... Read the full article
Midwest Holding upbeat despite fall in premiums
17th May 2022
Midwest Holding is reporting a fall in its annuity direct written premium in Q1 2022, compared to Q1 and Q4 of last year. The firm said that it had seen a fall from $104.2m in Q4 2021 and $123.7 in Q1 of the same year to $98.1m. However, it also reported ... Read the full article
Midwest Holding names Eric N. Berg as new CFO
25th March 2022
Midwest Holding has named Eric N. Berg as its new senior vice president and CFO. Most recently, Berg was CFO of Aviva India, a New Delhi-based insurer and asset manager. He is a CFA charterholder and has the CFA Institute's certificate in investment performance designation. He is also active in numerous ... Read the full article
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