Midwest Holding Announces Eric N. Berg as Chief Financial Officer

LINCOLN, Neb. , March 25, 2022 /PRNewswire/ — Midwest Holding Inc. (Midwest, NASDAQ: MDWT), a technology-driven life insurance and annuity platform, announced the appointment of Eric N. Berg as its new Senior Vice President and Chief Financial Officer, effective March 25, 2022.

Berg, 63, brings significant experience to the position with deep expertise in investment research and insurance industry analysis, having spent 23 years on Wall Street as an equity research analyst. actions following the insurance sector. Working at firms such as Lehman Brothers, RBC Capital Markets and Barclays Capital, Berg was awarded an All-Star Analyst designation by Institutional investor magazine 15 times and served twice as Associate Director of Research. He was most recently Chief Financial Officer of Aviva India, a New DelhiNew York-based insurer and asset manager. He is a CFA Charterholder and holds the CFA Institute Certificate in Investment Performance awarded to individuals who pass two rigorous examinations in the area of ​​fund manager selection and evaluation. He is also active in many professional groups, including the CFA Society of new York and the Society of Actuaries. He earned a Bachelor of Science in Economics from the Wharton School in University of Pennsylvania and his MBA from the Stanford Graduate School of Business.

“We are thrilled to have Eric Berg join Midwest,” said Georgette C. Nicholas, President and CEO of Midwest Holding. “Eric brings deep experience and knowledge of the investor market and the insurance industry. His business acumen and diverse background will add strong leadership to our efforts to drive growth and improve shareholder value. “

About Midwest Holding Inc.
Midwest Holding Inc. (NASDAQ: MDWT) is a technology-based life insurance and annuity company. Midwest is made up of four distinct and interconnected businesses that work together to connect those seeking to fund their retirement through annuities with asset managers and institutional investors seeking uncorrelated enhanced returns. Midwest develops and distributes annuity products with capital provided by those investors who are able to form, capitalize and manage their own reinsurance capital vehicles using Midwest’s infrastructure and expertise. Ultimately, the goal is to build a platform capable of significant long-term earning power for the company’s stakeholders. For more information, visit midwestholding.com.

Investor contacts: [email protected]

Media inquiries: [email protected]

CAUTION REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking statements. These statements are based on management’s expectations, estimates, projections and assumptions. In some instances, you can identify forward-looking statements by words such as “could”, “may”, “will”, “should”, “expect”, “plan”, “anticipate”, ” believes”, “estimates”, “predicts”, “potential”, “intends” or “continues”, the negative of these terms, or any other comparable terminology used in connection with any discussion of operating results future or financial performance. These statements are only predictions and reflect our management’s current good faith expectations regarding future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those described. in forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated by these forward-looking statements include, among others, the following:

  • the success of recent changes in our executive leadership;
  • our business plan, including our reinsurance strategy, may not prove successful;
  • our reliance on third-party insurance marketing organizations to market and sell our annuity insurance products through a network of independent agents;
  • failure to maintain adequate reinsurance;
  • difficulties or delays in expanding our insurance business outside of the 22 states and District of Colombiain which we are currently licensed;
  • our annuity products may not be widely accepted by the market;
  • difficulty in obtaining new customers, retaining existing customers or reductions in policies in force by existing customers; and
  • an increase in service, administrative or general expenses due to the implementation of our business plan.

Readers are cautioned not to place undue reliance on these forward-looking statements. For more details on factors that could affect these expectations, see also the risk factors and other cautionary statements included in Midwest’s filings with the SEC, which may be obtained online at the Securities and United States Exchange Commission at sec.gov or on the Midwest website at midwestholding.com. Except as required by law, Midwest does not undertake to update any forward-looking statements contained in this release.

SOURCE Midwest Holding Inc.

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