CHICAGO, IL--(Marketwired - August 09, 2016) - A.M. Best affirmed the A+ (Superior) rating Midland National® Life Insurance Company, a subsidiary of Sammons® Financial Group. Additionally, the outlook for this rating was called stable.
"We are pleased that A.M. Best affirmed our A+ rating," said Esfandyar Dinshaw, Sammons Financial Group Chairman and Chief Executive Officer. "Maintaining the ability to keep our commitments to our customers is our top priority."
A.M. Best cited Sammons Financial Group's "prominent market positions in the individual life and fixed indexed annuity marketplaces," as well as an investment portfolio that is "considered well-managed and of good credit quality."
It was noted by A.M. Best that "the group has good financial flexibility and financial leverage and interest coverage ratios well within A.M. Best tolerances for the ratings."
A.M. Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance, and ability to meet its obligations to contract holders. A+ (Superior) is the second highest rating out of 15 categories, and was affirmed for Midland National Life Insurance Company as part of Sammons Financial Group on July 14, 2016.
ABOUT MIDLAND NATIONAL
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National® Life Insurance Company has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in America. Midland National is a member of Sammons® Financial Group, Inc. With its Annuity Division located in West Des Moines, Iowa and its Life Operations location in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, please visit www.midlandnational.com.