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Chicago, IL | July 31, 2015
Standard & Poor's 1 has affirmed the A+ (strong) financial strength ratings of two Sammons® Financial Group, Inc. subsidiaries, Midland National® Life Insurance Company and North American Company for Life and Health Insurance®, and maintained its stable outlook for the companies.
"The S&P rating is a strong indicator of our financial ability to fulfill our obligations," said Esfand Dinshaw, Chairman and Chief Executive Officer for Sammons Financial Group. "Having our rating reaffirmed gives our policyholders confidence in our commitment to maintaining stability and creating long-term value for them."
In a report issued by S&P, the rating agency noted the strong competitive position of the Sammons Financial Group subsidiaries, "We view Sammons' competitive position as strong, reflecting the company's well-balanced portfolio of life insurance, annuity and BOLI/COLI products, as well as its proven ability to generate profitable growth in all of its key business segments."
S&P also noted the following factors in affirming the ratings for the Sammons Financial Group companies:
1. Standard & Poor's ratings effective July 2, 2015. Standard & Poor's Insurer Financial Strength Rating uses a scale 22 rating categories ranging from AAA (Extremely Strong) to R (Experienced Regulatory Action).