American Republic Insurance Company Headquarters Building

Midwest Holding Inc. Reports First Quarter 2023 Results

Retrieved on: 
Monday, May 15, 2023

LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ: MDWT), today announced financial results for the quarter ended March 31, 2023.

Key Points: 
  • LINCOLN, Neb., May 15, 2023 /PRNewswire/ -- Midwest Holding Inc. ("Midwest") (NASDAQ: MDWT), today announced financial results for the quarter ended March 31, 2023.
  • GAAP net income for the quarter was $3.8 million compared with $0.2 million recorded in the first quarter of 2022.
  • Midwest reported net income of $3.8 million for Q1 2023; this compares with $0.2 million in the first quarter of the prior year.
  • Our expenses were $29.8 million in the first quarter of 2023 compared with $(3.3) million in the first quarter of the prior year.

AM Best Downgrades Issuer Credit Rating of Republic Insurance Company (Cayman) Limited

Retrieved on: 
Friday, May 13, 2022

AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb (Good) from bbb+ (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Republic Insurance Company (Cayman) Limited (Republic Insurance) (Cayman Islands).

Key Points: 
  • AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to bbb (Good) from bbb+ (Good) and affirmed the Financial Strength Rating (FSR) of B++ (Good) of Republic Insurance Company (Cayman) Limited (Republic Insurance) (Cayman Islands).
  • The Credit Ratings (ratings) reflect Republic Insurances balance sheet strength, which AM Best assesses as very strong as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .
  • AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.