Reinsurance News

Midwest Holdings

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 sells majority of a reinsurance cell to ORIX Corp.

12th January 2022

Midwest Holding Inc., a technology-driven life and annuity platform, has sold a majority ownership of a consolidated reinsurance facility to a subsidiary of ORIX Corporation USA. Under the terms of the agreement, a subsidiary of ORIX USA purchased 70% of Seneca Incorporated Cell, LLC 2020-01 (SRC1), a Midwest consolidated reinsurance cell. Midwest ... Read the full article

Georgette Nicholas named as Midwest Holding CEO

22nd November 2021

Georgette Nicholas has been named as Chief Executive Officer (CEO) of Midwest Holding Inc, following the resignation of Co-CEO A. Michael Salem. She will take over as the sole CEO of the company effective immediately, as former Co-CEO Mike Minnich transitions into the role of President, while retaining his responsibilities as ... Read the full article

Midwest announces $3.1mn Q3 net loss

12th November 2021

Midwest has reported a third quarter net loss of $3.1 million, against a net loss of $5.5 million in the prior year quarter. Revenue was $5.8 million compared to negative $0.5 million in the third quarter of 2020, driven by an increase in investment income from growth. Invested assets grew to $942.8 ... Read the full article

Midwest hires Georgette Nicholas as President and CFO

8th September 2021

Technology-enabled, services-oriented life and annuity Midwest Holding has appointed Georgette Nicholas as President and Chief Financial Officer. Nicholas brings over 30 years of experience in the global financial services industry including insurance, reinsurance and capital markets. She has previously held the position of CEO and Managing Director for Genworth Mortgage Insurance Australia, ... Read the full article