Our offices are moving! Effective January 26, our offices will be located at:
2900 S. 70th St., Suite 400
Lincoln, NE 68506
The PO Box and phone number are unchanged.
In June 2012, the American Life & Security Corp. Board of Directors approved another rate increase to 5.75% for the American Accumulator annuity rider. The Board of Directors declares the annuity interest rate based upon the Company's excess interest earnings. This is the third rate increase since the product was introduced in September 2009.
April 27, 2012 .... American Life & Security Corp. is proud to announce that representatives of the company wrote almost $2,500,000 in annual premium in 2011, and the success has continued into 2012. ALSC agents wrote $600,000 in annual premium in the first quarter of 2012. Congratulations and keep up the good work.
August 9, 2011 ... FOR IMMEDIATE RELEASE .... 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.
For Additional Information:
Mark A. Oliver, CEO
American Life & Security Corp.
On January 5-7, 2011, American Life & Security managers and agents attended a 3-day "Back to Basics" sales seminar in Lincoln, NE. The seminar was presented by Midwest Holding Inc. and 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.
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.