Midwest Holding Inc. (MDWT)

[Big Casino 1518]

We posted strong financial results, year-over-year:
» Our annuity direct written premiums grew 158% to $415.6m
» Our adjusted revenue increased 241% to $24.1m

Cash and investments grew from $148 million in 2019 to $669.9 million in 2020. INCREDIBLE!!!

Adjusted net income for 2019 was a loss of $2.1 million. For 2020 it was a gain of $1.1 million!

For the full year 2020, annuity direct written premiums grew 158% to $415.6
million, compared to $161.4 million in 2019.

For the full year 2020, adjusted revenue was $24.1 million, an increase of 241% compared to $7.1 million in 2019. The largest components of adjusted revenue in 2020 include:

• $12.5 million of net revenue on reinsurance, primarily ceding commissions
• $4.0 million of investment income, net of expenses
• Reversal of $2.9 million of net realized losses on investments related to the
total return on the asset portfolios held by Midwest as collateral
• $3.5 million of net realized gains on investments related to FIA hedging