Sammons Financial Group

One of the largest privately held companies in the nation, Sammons Financial Group is a consolidation of insurance and financial companies. By sharing resources and services, Sammons Financial Group and its parent company, Sammons Enterprises, maintain strong growth and efficiency. Along with annuity and securities companies, Sammons Financial Group offers health and life through their subsidiaries, Midland National Insurance and North American Insurance Co.

History

North American Insurance Co. started in Chicago in 1886, and Midland National Insurance was founded in 1906 in South Dakota. Offering protection-oriented life insurance policies, both companies have survived challenging economic times and come out financially strong.

In 1995 and 1996, Sammons Financial Group acquired Midland Insurance and North American Insurance, respectively. Sammons Enterprises, the parent company to the three companies mentioned above, is a diversified corporate holdings company that started in 1962. Now one of the largest privately owned companies in the United States, Sammons Enterprises operates an employee stock ownership plan. Sammons Financial Group has more than $31 billion in assets, $223 billion of life insurance in force and 1.5 million policies.

Sammons Financial Group Ratings

As a whole or separately, the insurance companies held by Sammons Financial Group all receive high ratings. The financial group itself received an AA rating from Standard & Poor's for its diversification, superior earnings and extremely strong capital. Midland and North American Insurance received A+, or superior ratings, from A.M. Best, which is the second highest rating given. In the Fitch and Weiss rating systems, neither company was rated below the top four.