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Vespoint Acquires Stake in US Life and Annuity Insurer Midwest Holding
Wednesday 11 July 2018

11 July 2018 - New York, US-based investment company Vespoint LLC has acquired a controlling interest in Nebraska, US-based life and annuity insurer Midwest Holding Inc. (OTCQB: MDWT), along with its wholly-owned subsidiary American Life and Security Corp., the company said.
Terms of the transaction were not disclosed.
The acquisition is the first in Vespoint's portfolio of insurance-focussed investment, management and technology companies.
Midwest Holding Inc. is a financial services organisation, providing quality products and services to clients across the US In September 2009, Midwest capitalised American Life and Security Corp., the first life insurance company organised in the state of Nebraska.
American Life and Security Corp. is a life and annuity insurance company that is the result of multiple mergers and acquisitions with its earliest predecessor company dating to 1960. American Life provides life and annuity products to its Midwest policyholder base.
Vespoint LLC is a private insurance-focussed investment, management and technology company.
Date Published: 11/07/2018
Target: Midwest Holding Inc
Country: USA
Sector: Insurance
Type: Corporate acquisition
Status: Closed
Buyer: Vespoint LLC
Terms of the deal were not disclosed