A.M. Best Affirms A+ Rating of Midland National® Life Insurance Company
Chicago, IL | August 9, 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 your 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 North American Company for Life and Health Insurance as part of Sammons Financial Group on July 14, 2016.
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