Midland National's unique direct model
Midland National® Life Insurance Company has an established history and an innovative spirit that helps keeps it on the leading edge of the insurance industry. We have been and continue to be fully committed to our independent direct partnerships.
If you don't have a direct appointment, you may be leaving benefits on the table. You can add Midland National to your preferred carriers, and still remain 100% independent.
Structure
Privately-held ESOP-owned with a long-term perspective
Independent
We make decisions with a focus on longevity, instead of short-term earning pressures.
Client-centric
Midland National employees participate in the ESOP program and have a stake in the company's success -meaning we're motivated to make sure you and your clients are taken care of.
Stability
A+ ratings from independent organizations show we honor our commitments to the 640,000 customers around the country who trust us to help secure their financial futures.
History of integrity
For over 30 years, Midland National has earned an "A+" (Superior) rating from A.M. Best1 based on its financial strength.
- A.M. BestA,B (SUPERIOR)
(Second category of 15) - S&P GLOBAL RATINGSB,C (STRONG)
(Fifth category of 22) - FITCH RATINGSD (STABLE)
(Fifth category of 19)
Strength
Our focus on direct partnerships and long-term relationships is backed by a powerful growing organization.
Steady growth
One of the nation's largest privately held companies - named 44th on the Forbes list of Largest Private Companies1 in 2022 - up from 70th in 2021.
Midland National balance sheet and investments
Balance sheet as of Dec. 31, 2022 (in thousands)
Assets
Bonds$56,710,124
Stocks$2,227,724
Cash and short-term investments$722,450
Mortgage loans$3,835,425
Loans to policyholders$459,745
Other invested assets$4,550,969
Accrued investment income$621,057
Separate account assets$6,170,040
All other assets$2,515,453
Total assets$77,812,987
Liabilities, capital, and surplus
Life and annuity reserves$46,052,108
Interest maintenance reserve (IMR)$0
Asset valuation reserve (AVR)$590,241
Funds withheld under coinsurance$11,380,618
Accounts payable and other liabilities$8,915,126
Separate account liabilities$5,809,649
Total liabilities$72,747,742
Capital and surplus$5,065,245
Total liabilities, capital, and surplus$77,812,987
High quality investments
Midland National's asset quality is excellent. Overall net investment income provides ample margins to cover contractual obligations to all policyholders.
INVESTMENTS BY TYPE2
term
investments
BONDS BY NAIC QUALITY RATING
94° Investment grade
Our unique direct distribution model means it can offer superior customer value through competitive products and experienced producers who do not need the support of a marketing organization for all or a part of their business. As a result, we can provide industry leading service, quality compensation and access to a portfolio of innovative fixed annuity products.
Want to talk to someone about the benefits of adding a direct relationship with Midland National to your list of preferred carriers?
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT TO BE USED FOR CONSUMER SOLICITATION PURPOSES.
1. Forbes' 2022 List of America's Largest Private Companies. The list includes 246 privately-held companies with revenues $2 billion or more.
https://fortune.com/ranking/
2. Stated as a percent of total invested assets.
A.M. Best is a large, third-party independent reporting and rating company that rates an insuranee company on the basis of the company's financial strength, operating performance, and ability to meet its obligations to policyholders. S&P Global Ratings is an independent, third party rating firm that rates on the basis of financial strength. Ratings shown reflect the opinions of the rating agencies and are not implied warranties of the company's ability to meet its financial obligations. The ratings above apply to Midland National's financial strength and claims-paying ability. A) A.M. Best rating affirmed on July 29, 2022. For the latest rating, access ambest.com. B) Awarded to Midland National® part of Sammons® Financial Group Inc., vvhich consists of Midland National® Life Insurance Company and North American Company for Life and HealthInsurance®. C) S&P Global rating assigned Feb. 26, 2009 and affirmed on May 25, 2022. D) Fitch Ratings, a global leader in financial information services and credit ratings, on Dec. 7, 2022, assigned an Insurer Financial Strength rating of A+ Stable for Midland National. This rating is the fifth highest of 19 possible rating categories. The rating reflects the organization's strong business profile, low financial leverage, very strong statutory capitalization, and strong operating profitability supported by strong investment petiormance. For more information access fitchratings.com.
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