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Archived News

April 24, 2012

FOR IMMEDIATE RELEASE (April 24, 2012) Lincoln, Nebraska-based Midwest Holding Inc., a diversified financial services holding company, announced a 5% stock dividend payable on May 1, 2012 to holders of record as of April 17, 2012.

This is the third consecutive stock dividend paid by the company during the past three years. "It is a pleasure to return to our shareholders a token of appreciation for their loyalty," stated Travis Meyer, President. "We had a tremendous year in which we closed a major acquisition and merger, topped the $50 million asset mark, and became an SEC registrant," he said.

Midwest's primary focus is to own and develop life insurance companies. Its primary subsidiary is American Life and Security Corporation, whose headquarters are also located in Lincoln, NE.

 

August 9, 2011

FOR IMMEDIATE RELEASE (August 9, 2011) Midwest Holding Inc., a Lincoln Nebraska-based financial services holding company with shareholders throughout Nebraska, announced it has completed the acquisition of Old Reliance Insurance Company of Phoenix, Arizona. The transaction, which had been awaiting regulatory approval, was valued at approximately $3 million. Old Reliance adds assets of approximately $4.5 million and annual revenues of more than $1.7 million to the group.

Midwest merged its wholly-owned subsidiary, American Life & Security Corp. into Old Reliance and the survivor will operate under American Life's name. American Life is licensed to sell life insurance in 14 states throughout the central and southwestern United States. The Company will continue to operate from its offices in Lincoln.

"We are excited about the Old Reliance transaction and the opportunities it brings us," said Mark A. Oliver, CEO of American Life. "We continue to seek transactions that add value for our shareholders." Old Reliance is the second acquisition in the past two years for Midwest.

 

March 31, 2011

The Board of Directors has approved the second stock dividend in the Company's history; a 4% dividend payable April 30, 2011 to holders of record as of March 31st, 2011.

Certificates representing the dividend shares will be mailed April 30th, 2011.

 

January 10, 2011

On January 5-7, 2011, Midwest Holding Inc. presented a 3-day "Back to Basics" sales seminar in Lincoln, NE. The purpose of the seminar was to provide additional training on basic sales techniques. Thirty-three agents and representatives from 6 different states completed the seminar. Those in attendance came from Midwest Holding and American Life & Security in Nebraska, Rocky Mountain Capital in Colorado, Northstar Financial in Minnesota, Great Plains Financial in South Dakota, Northern Plains Capital in North Dakota, and U.S. Alliance in Kansas. Thank you to all that were able to attend, and a special thank you to those who spoke at the seminar.

CLICK HERE FOR KICKOFF SEMINAR NEWSLETTER

(337KB PDF)

 

November 10, 2010

FOR IMMEDIATE RELEASE (November 10, 2010) Midwest Holding Inc., a Nebraska financial services holding company announced today that it had reached a definitive agreement to acquire all of the outstanding shares of Old Reliance Insurance Company, an Arizona-domiciled life insurance company in a transaction that combines cash and shares of Midwest's common stock valued at approximately $3 million.

Old Reliance is domiciled in Arizona, and is licensed in fourteen states. Annual premium income is approximately $1.7 million with total assets of approximately $4 million. Midwest is currently the parent of American Life and Security Corp., a Nebraska-domiciled life insurer that owns Capital Reserve Life Insurance Company, a Missouri-domiciled life insurer.

The Agreement calls for American Life and Capital Reserve to be merged with and into Old Reliance. The company will continue to operate as American Life and Security Corp. from its offices in Lincoln, Nebraska.

The transaction will double American Life's current premium income and increase the states where it operates from 4 to 14. Approximate total assets of Midwest following the closing will be $40 million, with revenues of more than $7 million.

"The acquisition of Old Reliance is an important step in our long-term growth plan," said Travis Meyer, President of Midwest. "It not only adds new states to explore for marketing opportunities, but provides a platform from which to continue to build value for our shareholders. "

The transaction is subject to regulatory approval in several states and is expected to close in early 2011.

For further information please contact:

Mark A. Oliver, Treasurer
Midwest Holding Inc.
(402) 489-8266
moliver@midwestholding.com

 

October 28, 2010

Another regional shareholder event for Midwest Holding was held on October 28 at the Quality Inn & Conference Center just outside Grand Island, NE. 100 people were in attendance to hear the exciting update on the progress of Midwest Holding and American Life & Security Corp. Everyone also had the opportunity to meet Milt Tenopir, 29 year offensive line coach at the University of Nebraska and a current Midwest Holding board member, and Jay Foreman, former Husker and NFL linebacker and a member of the Midwest Holding Corporate Development team.

Thank you to all who were able to attend the event.

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September 2, 2010

Midwest Holding Inc. held a regional shareholder event and update at the Divots Conference Center in Norfolk, NE. The featured speakers were Milt Tenopir, former University of Nebraska Offensive Line Coach and current Midwest Holding Board member, and Jay Foreman, former Husker and NFL linebacker and a member of the Midwest Holding Corporate Development team.  Thank you to all of the 170 shareholders from the region who were able to attend the event.  Also, thank you to Donna Herrick, Midwest Holding Founders Council member representing Madison County and owner of Divots, for her wonderful hospitality.

Shareholders, watch your mail for your invitation to the next regional event in your area.

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June 29, 2010

Dear Shareholder:

Your company, Midwest Holding Inc., is excited to announce that the stock certificates representing your 4% stock dividend are now ready. Your representatives will be personally contacting you over the next several months to set up an appointment to deliver your certificate(s) and to give you an update on the progress and growth of Midwest Holding Inc. and its subsidiary American Life & Security Corp.

Midwest Holding Inc. is also proud to report its asset base has reached an embedded value of $19,200,000 through various mergers and acquisitions. In doing so, your company has acquired certificates of authority in three additional states to market our life insurance products and bring those premium dollars back to Nebraska.

In addition, Midwest Holding Inc. has formed and established two subsidiary companies, Northstar Financial Corp. in Minnesota and Rocky Mountain Capital Corp. in Colorado. These companies will benefit your company in many ways, including cost sharing and also bringing premium dollars back to Nebraska.

We are extremely pleased with the growth of your Life Insurance Subsidiary. In its first year of operation, we have written over $2,000,000 of premium income on residents of Nebraska and currently have over $39,000,000 of life insurance coverage in force.

We would like to thank each and every shareholder for their hard work and dedication in helping to build the state of Nebraska’s newest and fastest growing Life Insurance Company.

We look forward to seeing you very soon.

Sincerely,


Travis Meyer
President


 
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