<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 10-Q

                                   (Mark One)


(X) Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 For the Period Ended March 31, 2002.
                               or
( ) Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the Transition Period From ________________to____________

Commission file number 0-21230
                       -------

              Midwest Medical Insurance Holding Company
-------------------------------------------------------
  (Exact name of registrant as specified in its charter)

      Minnesota                                     41-1625287
---------------------------------            -----------------
(State or other jurisdiction of               (I.R.S. Employer
incorporation or organization)               Identification No.)

7650 Edinborough Way, Suite 400
Minneapolis, Minnesota                               55435-5978
-----------------------------------          ------------------
(Address of principal executive offices)             (Zip Code)

                                952-838-6700
--------------------------------------------
    (Registrant's telephone number, including area code)


                               Not applicable
---------------------------------------------
(Former name, former address and former fiscal year, if changed since
last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter periods that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  Yes  X     No
                                       -----     -----

The number of shares outstanding of the issuer's classes of common stock as of
March 31, 2002:

Class B Common Stock, $1,000 par value - 1 share

Class C Common Stock, no par value -- 9,981 shares













<PAGE>





                                      INDEX

                    Midwest Medical Insurance Holding Company


PART  I. FINANCIAL INFORMATION

Item 1.  Financial Statements (Unaudited)

         Condensed consolidated balance sheets -- March 31, 2002 and December
         31, 2001

         Condensed consolidated statements of income - Three months ended
         March 31, 2002 and 2001

         Condensed consolidated statements of cash flows - Three months ended
         March 31, 2002 and 2001

         Notes to condensed consolidated financial statements -- March 31, 2002

Item 2.  Management's Discussion and Analysis of Financial Condition and Results
         of Operations

Item 3.  Quantitative and Qualitative Disclosures About Market Risk


PART II. OTHER INFORMATION

Item 6.  Exhibits and Reports on Form 8-K


SIGNATURES
























                                        2


<PAGE>




Part I.  Financial Information
         Item 1.  - Financial Statements

           MIDWEST MEDICAL INSURANCE HOLDING COMPANY and SUBSIDIARIES

                      Condensed Consolidated Balance Sheets
                             (Dollars in thousands)

<TABLE>
<CAPTION>


                                                                                     March 31                December 31
                                                                                       2002                      2001
                                                                               ---------------------     ---------------------
                                                                                   (Unaudited)                 (Note A)
<S>                                                                            <C>                       <C>

ASSETS
   Fixed maturities at fair value (cost:
       2002 $152,465; 2001 $137,844)                                                       $152,931                  $140,436
   Equity securities at fair value (cost:
       2002 $47,712; 2001 $46,432)                                                           63,852                    63,700
   Short-term investments                                                                    11,213                    21,541
   Other investments at fair value (cost:
       2002 $20,000; 2001 $20,000)                                                           20,998                    21,616
                                                                               ---------------------     ---------------------
                                                                                            248,994                   247,293

   Cash                                                                                         769                     1,018
   Accrued investment income                                                                  2,202                     2,219
   Premiums receivable -- Note C                                                             34,550                     9,844
   Reinsurance recoverable on paid and unpaid losses                                         13,868                    14,528
   Amounts due from reinsurers                                                                8,277                     1,657
   Other assets                                                                              12,293                    10,846
                                                                               ---------------------     ---------------------
   Total assets                                                                            $320,953                  $287,405
                                                                               =====================     =====================


LIABILITIES AND SHAREHOLDERS' EQUITY

LIABILITIES
   Unpaid losses and loss adjustment expenses                                              $126,081                  $118,574
   Unearned premiums -- Note C                                                               55,183                    15,489
   Policyholder dividends -- Note D                                                           3,036                     4,050
   Deferred income taxes                                                                        348                     1,664
   Amounts due to reinsurers                                                                  7,482                     6,775
   Other liabilities -- Note C                                                                5,747                    13,966
                                                                               ---------------------     ---------------------
                                                                                            197,877                   160,518

SHAREHOLDERS' EQUITY
   Class B Common Stock; authorized, issued and
     outstanding 1 share; $1,000 par value                                                        1                         1
   Class C Common Stock; authorized 300,000 shares,
     issued and outstanding 9,981 shares in 2002
     and 9,298 shares in 2001; no par value                                                       -                         -
   Paid-in capital                                                                           12,789                    12,789
   Retained earnings                                                                         98,667                    99,923
   Accumulated other comprehensive income:
     Net unrealized appreciation of investments                                              11,619                    14,174
                                                                               ---------------------     ---------------------
                                                                                            123,076                   126,887
                                                                              ---------------------     ---------------------
   Total liabilities and shareholders' equity                                              $320,953                  $287,405
                                                                               =====================     =====================

</TABLE>

See notes to condensed consolidated financial statements.







                                        3


<PAGE>




           MIDWEST MEDICAL INSURANCE HOLDING COMPANY and SUBSIDIARIES

                   Condensed Consolidated Statements of Income
                             (Dollars in thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>


                                                                                             Three months ended
                                                                                                  March 31
                                                                                   ----------------------------------------
                                                                                         2002                   2001
                                                                                   -----------------      -----------------
<S>                                                                               <C>                    <C>

Revenues:
  Net premiums earned                                                                $       16,745         $       11,584
  Net investment income                                                                       2,918                  2,999
  Net realized capital gains                                                                    544                  2,298
  Other                                                                                       1,245                    665
                                                                                   -----------------      -----------------
                                                                                             21,452                 17,546

Losses and expenses:
  Losses and loss adjustment expenses                                                        18,083                 11,709
  Underwriting, acquisition and
    insurance expenses                                                                        3,132                  2,709
  Other operating expenses                                                                    2,116                  1,662
                                                                                   -----------------      -----------------
                                                                                             23,331                 16,080

                                                                                   -----------------      -----------------
(Loss) income from continuing operations
  before income taxes                                                                        (1,879 )                1,466

Income tax (benefit) expense -- Note B                                                         (623 )                  528
                                                                                   -----------------      -----------------
(Loss) income from continuing operations
  after income taxes                                                                         (1,256 )                  938


Discontinued operations -- Note E:
  Loss from discontinued operations, net of
    income tax benefit                                                                            -                    (54 )
                                                                                   -----------------      -----------------

Net (loss) income                                                                    $       (1,256 )       $          884
                                                                                   =================      =================

</TABLE>



 See notes to condensed consolidated financial statements.













                                        4



<PAGE>




           MIDWEST MEDICAL INSURANCE HOLDING COMPANY and SUBSIDIARIES

                 Condensed Consolidated Statements of Cash Flows
                             (Dollars in thousands)
                                   (Unaudited)

<TABLE>
<CAPTION>

                                                                                                      Three months ended
                                                                                                           March 31
                                                                                            ---------------------------------------
                                                                                                 2002                  2001
                                                                                            ----------------      ----------------
<S>                                                                                         <C>                   <C>

OPERATING ACTIVITIES
   Net (loss) income                                                                           $     (1,256)      $           884
   Adjustments to reconcile net income to net cash
    provided by (used in) operating activities:
      Increase in premiums receivable                                                               (24,706)              (23,528)
      Decrease in reinsurance recoverable on paid and unpaid losses                                     660                 3,087
      Increase in amounts due from reinsurers                                                        (6,620)               (4,358)
      Increase (decrease) in unpaid losses and loss
        adjustment expenses                                                                           7,507                (2,962)
      Increase in unearned premiums                                                                  39,694                32,481
      Decrease in policyholder dividends                                                             (1,014)               (2,057)
      Decrease in other liabilities                                                                  (8,219)               (5,851)
      Net realized capital gains                                                                       (544)               (2,298)
      Other changes, net                                                                               (649)                 (650)
                                                                                            ---------------       ---------------
                                                                                                      4,853                (5,252)

INVESTING ACTIVITIES
   Purchases of fixed maturity investments and
      equity securities                                                                             (50,253)              (23,045)
   Purchase of other investments                                                                          -               (10,000)
   Sales of fixed maturity investments and equity
      securities                                                                                     34,823                49,181
   Maturities and calls of fixed maturity investments                                                     -                 2,000
   Net sales (purchases) of short-term investments                                                   10,328               (12,843)
                                                                                            ---------------       ---------------
                                                                                                     (5,102)                5,293
                                                                                            ---------------       ---------------

(Decrease) increase in cash                                                                            (249)                   41
Cash at beginning of year                                                                             1,018                   976
                                                                                            ---------------       ---------------
CASH AT MARCH 31                                                                             $        $ 769       $         1,017
                                                                                            ===============       ===============

</TABLE>



See notes to condensed consolidated financial statements.













                                        5



<PAGE>




           MIDWEST MEDICAL INSURANCE HOLDING COMPANY and SUBSIDIARIES

              Notes to Condensed Consolidated Financial Statements
                                   (Unaudited)

                                 March 31, 2002


          NOTE A - BASIS OF PRESENTATION

          The accompanying unaudited interim condensed consolidated financial
          statements of Midwest Medical Insurance Holding Company and its
          subsidiaries have been prepared in accordance with accounting
          principles generally accepted in the United States for interim
          financial information and with the instructions to Form 10-Q and
          Article 10 of Regulation S-X. Accordingly, they do not include all of
          the information and notes required by accounting principles generally
          accepted in the United States for complete financial statements. In
          the opinion of management, all adjustments (consisting of normal
          recurring accruals) considered necessary for a fair presentation have
          been included. Operating results for any interim period are not
          necessarily indicative of the results that may occur for the full
          year. These interim financial statements should be read in conjunction
          with the 2001 consolidated financial statements and notes thereto
          included in Midwest Holding's Annual Report on Form 10-K as filed with
          the Securities and Exchange Commission.

          The balance sheet at December 31, 2001 has been derived from the
          audited financial statements at that date but does not include all of
          the information and notes required by accounting principles generally
          accepted in the United States for complete financial statements.

          Certain amounts applicable to prior periods have been reclassified to
          conform to the classifications followed in the current year. All
          intercompany amounts have been eliminated.

          In management's judgment, the following are the critical accounting
          policies of the Company:

          Use of Estimates

          The preparation of financial statements in conformity with accounting
          principles generally accepted in the United States requires management
          to make estimates and assumptions that affect the reported amounts of
          assets, liabilities, revenues and expenses, as well as disclosure of
          contingent assets and liabilities at the date of the financial
          statements. Actual results could differ from those estimates.

          Investments

          The Company manages its investment portfolio to achieve its long-term
          investment objective of providing for the financial stability of the
          Company through preservation of assets and maximization of total
          portfolio return. Although management believes the Company has the
          ability to hold its fixed maturity investment portfolio to maturity,
          these investments are classified as "available for sale," as
          management may take advantage of opportunities to increase total
          return through sales of selected securities in response to changing
          market conditions.



                                        6


<PAGE>




          NOTE A - BASIS OF PRESENTATION (continued)

          Consistent with management's classification of its investment in debt
          and equity securities as available for sale, such investments are
          carried at fair value, with unrealized holding gains and losses
          reflected as a component of other comprehensive income, net of
          applicable deferred taxes.

          Fair values are based on quoted market prices, where available. For
          fixed maturity investments not actively traded, fair values are
          estimated using values obtained from independent pricing services.

          Short-term investments are principally money market funds and
          commercial paper with maturities of less than one year. Short-term
          investments are recorded at cost, which approximates fair value.

          Other investments are less than 20% equity interests in non-traded
          real estate investment trusts and are recorded at appraised value.

          Realized gains and losses on sales of investments are reported on a
          pre-tax basis as a component of income and are determined on the
          specific identification basis.

          When evidence indicates a decline, which is other than temporary, in
          the underlying value or earning power of individual investments, such
          investments are written down to fair value by a charge to income.

          Losses and Loss Adjustment Expenses

          The liability for unpaid losses and loss adjustment expenses
          represents management's best estimate of the ultimate cost of all such
          amounts which are unpaid at the balance sheet dates. The liability is
          based on both case-by-case estimates and statistical analysis and
          projections using the historical loss experience of Midwest Medical
          and gives effect to estimates of trends in claim severity and
          frequency. These estimates are continually reviewed and, as
          adjustments become necessary, such adjustments are included in current
          operations. Midwest Medical believes that the estimate of the
          liability for losses and loss adjustment expenses is reasonable.

          Reinsurance

          Midwest Medical purchases reinsurance in order to reduce its liability
          on individual risks and to enable it to write business at limits it
          otherwise would be unable to accept. Reinsurance contracts are
          principally excess-of-loss contracts, which indemnify Midwest Medical
          for losses in excess of a stated retention limit up to the policy
          limits. Reinsurance costs are recorded as a reduction of premium,
          which is known in the insurance industry as ceded premium.

          NOTE B - INCOME TAXES

          The Company calculates its federal income tax provision for interim
          periods by estimating its annual federal effective tax rate and
          applying this rate to the income of the interim period. The estimated
          annual federal effective tax rate used for the three-month periods
          ended March 31, 2002 and 2001 was 34%. An estimate for state income
          taxes is also made for each entity.




                                        7


<PAGE>




          NOTE C - UNEARNED PREMIUMS, PREMIUMS RECEIVABLE and OTHER LIABILITIES

          The majority of Midwest Medical's insurance policies expire at
          December 31 and renew on January 1 of each year. As a result, the
          majority of the unearned premium amount at March 31, 2002 represents
          nine months of unearned premium for every active policy renewed or
          newly written on January 1, 2002 with an expiration date of December
          31, 2002. At December 31, 2001, most active 2001 policies expired and
          therefore had no unearned premium.

          Of the total unearned premium balance of $15,489,000 at December 31,
          2001, $5,800,000 is reserved to recognize Midwest Medical's obligation
          to provide reporting endorsement coverage without additional premium
          upon the death, disability or retirement of policyholders. That same
          amount is also included in the unearned premium balance at March 31,
          2002 and represents the actuarially determined present value of future
          benefits to be provided less the present value of future revenues to
          be received.

          The increase of $24,706,000 in premiums receivable from December 31,
          2001 to March 31, 2002 is primarily due to the renewal of most active
          policies on January 1. The full year's premium is recorded as written
          and collectible at January 1. Premiums may be paid annually or
          quarterly and each year's premium is nearly all collected during the
          year. The receivable balance remaining at the end of the year
          primarily relates to the small number of policies underwritten by
          Midwest Medical that have other than December 31 expiration dates.

          Of the total other liabilities balance of $13,966,000 at December 31,
          2001, $6,878,000 is for premium payments received from policyholders
          in advance of their January 1, 2002 policy renewal. No advance premium
          payments were recorded at March 31, 2002.

          NOTE D - POLICYHOLDER DIVIDENDS

          Midwest Medical's policyholder dividend program has been in place
          since 1999 replacing the previous retrospective premium credit program
          for physicians. Participating policies represented approximately 98%
          and 96% of total premiums in force and premium income at March 31,
          2002 and December 31, 2001, respectively.

          The first quarterly installment of the $4,050,000 policyholder
          dividend declared last year by Midwest Medical's Board of Directors
          was paid in February 2002. The remaining three quarterly installments
          will be paid to physician and clinic policyholders in May, August and
          November. The dividend is awarded proportionately based on annual
          premiums for physician and clinic policyholders that were insured by
          Midwest Medical in 1997 and remain insured throughout 2002.

          NOTE E - DISCONTINUED OPERATIONS

          Effective July 31, 2001, the Company sold all of the capital stock of
          MedPower Information Resources, Inc. to ClaimLynx, Inc. Proceeds from
          the sale were $150,000. The Company recorded a $240,000 loss on the
          sale net of an income tax benefit of $124,000. No significant assets
          or liabilities remain from MedPower. The Company's condensed
          consolidated financial statements and notes report its former
          electronic medical claims processor as discontinued operations. Prior
          periods have been restated accordingly.



                                        8


<PAGE>




          NOTE F - COMPREHENSIVE INCOME

          The components of Midwest Holding's comprehensive income are net
          income and changes in net unrealized appreciation of investments.
          Total comprehensive income was $(3,811,000) and $(5,622,000)for the
          three months ended March 31, 2002 and 2001, respectively.

          NOTE G - SEGMENT INFORMATION

          The Company's continuing operations are organized into five legal
          entity business segments. MMIC Business Office Solutions, Inc. (Office
          Solutions) began operations in February 2002 to provide physicians
          with business office outsourcing services. The main outsourcing
          service is the billing and collection of patient accounts. The other
          four segments are described under the "Background" section in Item 1
          of the 2001 Annual Report on Form 10-K. The legal entity name of MMIHC
          Insurance Services, Inc. (Services) was changed to MMIC Benefits, Inc.
          (Benefits) in April 2002.

          The following financial information summarizes the results of
          operations and total assets reported by the Company's five business
          segments for the three months ended March 31, 2002 and 2001 (in
          thousands).








































                                        9


<PAGE>




 NOTE G - SEGMENT INFORMATION (continued)
<TABLE>
<CAPTION>


                                                               Three months ended March 31, 2002
                                  ----------------------------------------------------------------------------------------------
                                  Midwest       Midwest                   Medical         Office
                                  Holding       Medical     Benefits     Solutions      Solutions  Eliminations(1) Consolidated
                                  ----------------------------------------------------------------------------------------------
<S>                               <C>         <C>          <C>          <C>          <C>          <C>              <C>

Revenues:
   External customers             $      --    $  16,745    $     535    $     726    $      --    $      --          $  18,006
   Intersegment                       3,988           --           --           71           --       (4,059)                --
   Net investment income                  2        2,914            1            1           --           --              2,918
   Other(2)                               8          520           --           --           --           --                528
                                   ---------------------------------------------------------------------------------------------
                                      3,998       20,179          536          798           --       (4,059)            21,452

Total expenses                        4,281       21,215          673        1,165           56       (4,059)            23,331
                                  ----------------------------------------------------------------------------------------------

Loss from continuing operations
   before tax                          (283)      (1,036)        (137)        (367)         (56)          --            (1,879)
Income tax benefit                      (91)        (342)         (46)        (125)         (19)          --              (623)
                                  ----------------------------------------------------------------------------------------------
Loss from continuing operations
   after tax                      $    (192)   $    (694)   $     (91)   $    (242)   $     (37)   $      --         $  (1,256)
                                  ==============================================================================================

Total assets                      $ 127,789    $ 315,709    $   2,969    $   1,776    $     105    $(127,395)        $ 320,953
                                  ==============================================================================================

</TABLE>




(1)      Intersegment eliminations for revenues and expenses are primarily for
         management and administrative services provided by Midwest Holding.
         Eliminations for assets consist primarily of investments in
         wholly-owned subsidiaries, intersegment receivables and payables for
         management fees and reclassifications between assets and liabilities
         primarily for taxes.

(2)      Other revenues consist primarily of net realized capital gains.












                                       10


<PAGE>




NOTE G - SEGMENT INFORMATION (continued)

<TABLE>
<CAPTION>
                                                                   Three months ended March 31, 2001
                                  --------------------------------------------------------------------------------------------------
                                    Midwest      Midwest                       Medical         Office
                                    Holding      Medical        Benefits      Solutions      Solutions  Eliminations(1) Consolidated
                                  --------------------------------------------------------------------------------------------------
<S>                              <C>            <C>           <C>            <C>            <C>        <C>             <C>

Revenues:
   External customers             $      --      $  11,573     $     505      $     171      $      --      $      --     $  12,249
   Intersegment                       3,792             --            --             21             --         (3,813)           --
   Net investment income                 15          2,974             3              7             --             --         2,999
   Other(2)                              28          2,270            --             --             --             --         2,298
                                  --------------------------------------------------------------------------------------------------
                                      3,835         16,817           508            199             --         (3,813)       17,546

Total expenses                        4,091         14,419           626            757             --         (3,813)       16,080
                                  --------------------------------------------------------------------------------------------------

(Loss) income from continuing
   operations before tax               (256)         2,398          (118)          (558)            --             --         1,466
Income tax (benefit) expense            (82)           839           (39)          (190)            --             --           528
                                  --------------------------------------------------------------------------------------------------

(Loss) income from continuing
   operations after tax           $    (174)     $   1,559     $     (79)     $    (368)     $      --      $      --     $     938
                                  ==================================================================================================
Total assets                      $ 147,455      $ 317,449     $   3,056      $   3,101      $      --      $(154,702)    $ 316,359
                                  ==================================================================================================
</TABLE>



(1)      Intersegment eliminations for revenues and expenses are primarily for
         management and administrative services provided by Midwest Holding.
         Eliminations for assets consist primarily of investments in
         wholly-owned subsidiaries, intersegment receivables and payables for
         management fees, an intersegment loan, and reclassifications between
         assets and liabilities primarily for taxes.

(2)      Other revenues consist primarily of net realized capital gains.










                                       11


<PAGE>




          Item 2. - Management's Discussion and Analysis of Financial Condition
          and Results of Operations

          General

          The following analysis of the financial condition and results of
          operations of Midwest Holding and its wholly-owned subsidiaries,
          Midwest Medical, MMIC Benefits, Inc., Midwest Medical Solutions, Inc.,
          and MMIC Business Office Solutions, Inc. should be read in conjunction
          with the condensed consolidated financial statements and notes
          included in this report. Midwest Holding and its subsidiaries are
          collectively referred to as the Company unless the reference pertains
          to a specific entity.

          Capital Resources and Liquidity

          The majority of the Company's assets, 78% at March 31, 2002 and 86% at
          December 31, 2001, are invested in investment-grade bonds, equities, a
          real estate investment trust fund, and short-term investments. The
          decrease in the percentage of invested assets since December 31, 2001
          is due primarily to the growth in premiums receivable. This growth is
          explained in Note C of the condensed consolidated financial
          statements.

          Operations generated $4,853,000 of positive cash flow during the first
          three months of 2002 compared to $(5,252,000) of negative cash flow
          for the same period of 2001. Growth in new business volume and premium
          rate increases caused greater cash receipts in the first quarter of
          2002. Lower policyholder dividend payments also contributed to the
          positive cash flow. Increased reinsurance costs due to volume growth
          and reinsurance rate increases partially offset the above positive
          cash flows. Greater reinsurance, claim and tax payments drove the
          negative operating cash flow in the first quarter of 2001. The
          reinsurance payments consisted primarily of $2,236,000 of deposit
          premium adjustments on the 1998 and 2000 reinsurance contracts.

          The Company believes that its cash, internally generated funds and
          investments will be sufficient to meet normal operating requirements.
          The principal operating requirement is the payment of insurance
          claims. Loss and operating expense payments have been met from
          policyholder premium receipts during the first three months of 2002.
          Policyholder premium receipts are anticipated to cover loss and
          operating expense payments for the remainder of 2002 due to growth in
          new business volume and premium rate increases.

          Shareholders' equity decreased $(3,811,000) during the first three
          months of 2002. The decrease consisted of a net loss from operations
          of $(1,256,000) and net unrealized losses in the fair value of
          investments, net of deferred taxes, of $(2,555,000).

          Results of Operations

          Net premiums earned increased $5,161,000 for the first three months of
          2002 compared to the same period of 2001. New business generated
          approximately $2,349,000 of additional earned premium. Base rate
          increases and fewer premium discounts resulted in an average written
          premium increase of approximately 19% on January 1 policy renewals.




                                       12


<PAGE>




          Results of Operations (continued)

          This was partially offset by greater reinsurance costs. The greater
          premium volume coupled with an increase in 2002 reinsurance rates
          caused current year reinsurance costs to increase from $2,031,000 in
          2001 to $3,253,000 in 2002. Although the exit of major competitors
          from the medical malpractice marketplace has created many
          opportunities to write new business, Midwest Medical remains selective
          in assuming new risks. The following provides further detail on
          premiums written and earned for the three months ended March 31, 2002
          and 2001:

<TABLE>
<CAPTION>

                                                           Three months ended March 31
                                        ---------------------------------------------------------------------------------
                                                       2002                                       2001
                                       --------------------------------------    ---------------------------------------
                                             Written            Earned                 Written            Earned
                                       --------------------------------------    ---------------------------------------
                                                  (In Thousands)                             (In Thousands)
                <S>                    <C>                   <C>                 <C>                  <C>

                 Current Year:
                   Direct                  $59,994             $20,283               $46,243            $13,762
                   Assumed                      13                  30                     -                  -
                   Ceded                    (9,873)             (3,253)               (6,389)            (2,031)
                                       --------------------------------------    ---------------------------------------
                                            50,134              17,060                39,854             11,731
                 Prior Years:
                   Ceded                      (315)               (315)                 (147)              (147)
                                       --------------------------------------    ---------------------------------------
                 Net                       $49,819             $16,745               $39,707            $11,584
                                       ======================================    =======================================
</TABLE>


          Net capital gains of $544,000 were realized during the first three
          months of 2002, a decrease of $(1,754,000) over the same period in
          2001. The realized capital gains in the first quarter of 2002 resulted
          primarily from bond sales initiated by the investment manager who
          manages the portfolio on a pre-tax total return basis. In the first
          quarter of 2001, equities selected by the outside, domestic equity
          manager were sold to fund the additional REIT purchase of $10,000,000.
          Future levels of realized capital gains or losses are difficult to
          predict as investment managers purchase and sell securities in
          response to changing market conditions and investment policy
          guidelines.

          Other revenues were $1,245,000 for the first three months of 2002, an
          increase of $580,000 from the same period of 2001. Most of this
          increase is due to Medical Solutions' revenue growth primarily from
          the practice solutions division. Practice solutions is a value added
          reseller of the NextGen electronic practice management (EPM) and
          electronic medical records (EMR) systems. Practice solutions generated
          $572,000 in new revenues from the sale, installation and support of
          electronic practice management systems in the first quarter of 2002.

          Losses and loss adjustment expenses increased $6,374,000 for the first
          three months of 2002 versus 2001. Since the effects of interim claim
          frequency and severity statistics are not actuarially analyzed,
          incurred losses are estimated during the interim using historical
          company data, known trends and management's judgment. The increase in
          2002 incurred losses was in line with management's expectations due to
          Midwest Medical's growth in business and the corresponding exposure as
          well as recent growth in claims severity. Nothing came to management's
          attention during this period that would materially alter these loss
          expectations for the remainder of the year.



                                       13


<PAGE>




          Results of Operations (continued)

          Underwriting, acquisition and insurance expenses increased $423,000
          for the first three months of 2002 compared to the same period in
          2001. Additional commissions and premium taxes resulting from the
          greater premium volume drove the increase.

          Other operating expenses increased $454,000 for the first three months
          of 2002 compared to the same period in 2001. The increase was
          primarily due to the practice solutions division of Medical Solutions
          becoming fully operational and staffed towards the latter part of
          2001.

          The first three months of 2002 incurred an income tax benefit of
          $623,000 compared to an income tax expense of $528,000 for the same
          period in 2001. The effective tax rates were 33% and 36%,
          respectively. State income tax estimates caused the difference from
          the estimated annual federal effective tax rate of 34%.

          As a result of the factors discussed above, the Company recorded a net
          loss of $1,256,000 for the three months ended March 31, 2002 compared
          to net income of $884,000 for the same period of 2001.

          Cautionary Note Regarding Forward-Looking Statements

          Statements other than historical information contained in this report
          are considered to be "forward-looking statements" within the meaning
          of Section 27A of the Securities Act of 1933, as amended, and Section
          21E of the Securities Act of 1934, as amended.

          All forward-looking statements address matters that involve risks and
          uncertainties. Accordingly, in addition to the factors discussed in
          this report, there are or will be other significant factors that could
          cause actual results to differ materially from those indicated. These
          factors include but are not limited to:

          1.  the impact of changing market conditions on the Company's business
              strategy;
          2.  the effects of increased competition on pricing, coverage terms,
              retention of customers and ability to attract new customers;
          3.  greater severity or frequency of the types of losses that the
              Company insures;
          4.  faster or more adverse loss development experience than what the
              Company had based its underwriting, reserving, and investment
              practices;
          5.  developments in global financial markets which could adversely
              affect the performance of the Company's investment portfolio;
          6.  litigation, regulatory or tax developments which could adversely
              affect the Company's business;
          7.  risks associated with the introduction of new products and
              services;
          8.  dependence on key personnel; and
          9.  the impact of mergers and acquisitions.

          The above factors should be considered when reviewing any
          forward-looking statement contained in this report. The significant
          factors that could affect forward-looking statements are subject to
          change, and the Company does not intend to update any forward-looking
          statement or the above list of significant factors.



                                       14


<PAGE>




          Cautionary Note Regarding Forward-Looking Statements (continued)

          By this cautionary note, the Company intends to rely upon the safe
          harbor from liability with respect to forward-looking statements
          provided by Section 27A and Section 21E referred to previously.


          Item 3. - Quantitative and Qualitative Disclosures About Market Risk

          Market risk is the risk of loss that may occur when fluctuations in
          interest and foreign currency exchange rates and equity and commodity
          prices change the value of a financial instrument. Both derivative and
          nonderivative financial instruments have market risk. The Company is
          primarily exposed to interest rate risk on its investment in fixed
          maturities, equity price risk on its investment in equity securities,
          and foreign currency exchange rate risk on its investment in
          international equity securities.

          Based on the effective duration of the fixed maturity investment
          portfolio, an abrupt 100 basis point increase in interest rates along
          the entire interest rate yield curve would adversely affect the fair
          value of fixed maturity investments by approximately $6,600,000 at
          March 31, 2002 compared to $5,800,000 at December 31, 2001.

          No material change occurred in the equity price risk or the foreign
          currency exchange rate risk since the year ended December 31, 2001.

          The Company believes that there would be no material effect on its net
          income and cash flows in any of the above scenarios. This effect on
          net income and cash flows does not consider the possible effects a
          change in economic activity could have in such an environment.
          Investors, customers, regulators and legislators could respond to
          these fluctuations in ways the Company cannot foresee. Because the
          Company cannot be certain what specific actions would be taken and
          their effects, the above sensitivity analyses assume no significant
          changes in the Company's financial structure.


          Part II. Other Information

          Item 6. -  Exhibits and Reports on Form 8-K


                       (a)    Exhibits

                              None

                       (b)    Reports on Form 8-K

                              None











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<PAGE>





          Signatures


          Pursuant to the requirements of the Securities Exchange Act of 1934,
          the registrant has duly caused this report to be signed on its behalf
          by the undersigned thereunto duly authorized.




                                      Midwest Medical Insurance Holding Company
                                      -----------------------------------------
                                                   (Registrant)





          Date May 10, 2002                /s/ David P. Bounk
               ---------------------       ------------------------------------
                                           David P. Bounk
                                           President and Chief Executive Officer




          Date May 10, 2002                /s/ Niles Cole
               ---------------------       -------------------------------------
                                           Niles Cole
                                           Vice President and
                                           Principal Financial Officer and
                                           Principal Accounting Officer





























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