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 1,000,000+2 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. Best 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)
Our risk-based capital (RBC) ratio is: 419%2.
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 77th on the Forbes list of Largest Private Companies3 in 2023.
Midland National balance sheet and investments
Balance sheet as of Dec. 31, 2023 (in thousands)
Assets
Bonds$54,716,780
Stocks$2,124,578
Cash and short-term investments$1,709,358
Mortgage loans$3,790,420
Loans to policyholders$528,710
Other invested assets$5,356,027
Accrued investment income$534,434
Separate account assets$665,453
All other assets$2,815,619
Total assets$78,231,379
Liabilities, capital, and surplus
Life and annuity reserves$44,458,688
Interest maintenance reserve (IMR)$0
Asset valuation reserve (AVR)$734,535
Funds withheld under coinsurance$12,477,074
Accounts payable and other liabilities$9,352,558
Separate account liabilities$6,309,931
Total liabilities$73,322,786
Capital and surplus$4,898,593
Total liabilities, capital, and surplus$78,231,379
High quality investments as of Dec. 31, 2023 (in thousands)
Midland National's asset quality is excellent. Overall net investment income provides ample margins to cover contractual obligations to all policyholders.
INVESTMENTS BY TYPE3
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. All premium received in current calendar year qualifies for each level. Premier Agent Club additional compensation paid monthly on first-year fixed index annuity premium only (excludes MNL Accelerate fixed index annuity, MNL Guarantee Pro multi-year guarantee annuity (MYGA), and Direct Income single premium immediate annuity (SPIA) premium; premium for those products count toward Premier Agent Club level qualification, but are not eligible for additional compensation.).
2. Internal data, as of Dec. 31, 2023
3. Forbes' 2023 List of America's Largest Private Companies. The list includes 246 privately-held companies with revenues $2 billion or more.
https://fortune.com/ranking/
4. 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 August, 29 2023. 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 22, 2024. D) Fitch Ratings, a global leader in financial information services and credit ratings, on June 26, 2024, 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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