Midland National Life Insurance Company is owned by Sammons Financial Group, Inc., a privately held, employee-owned organization.
Sammons Financial Group operates under the marketing name Sammons Financial, which encompasses several other subsidiaries, including North American Company for Life and Health Insurance and Sammons Institutional Group.
Founded in 1906, Midland National has established a reputation for financial stability and strong performance. As a member of Sammons Financial Group, Midland National benefits from the group’s conservative investment strategies and robust financial health. Sammons Financial Group itself is known for its long-term focus, avoiding the short-term earnings pressures typical of publicly traded companies​ ​.
Sammons Financial Group was formed in 1999, consolidating various insurance entities under one umbrella. The company emphasizes financial strength and stability, as evidenced by Midland National’s high ratings from independent rating agencies. For example, A.M. Best has given Midland National an A+ (Superior) rating, affirming its strong financial health and ability to meet its policyholder obligations​ ​.
Midland National offers a wide array of products, including term life, whole life, universal life, and indexed universal life insurance, as well as various annuity products. These products are designed to cater to individual and corporate needs, providing financial protection and retirement solutions. Midland National’s offerings are distributed through independent agents who assist clients in selecting suitable policies based on their unique needs and circumstances​ ​.
As a privately held entity, Midland National enjoys the flexibility to prioritize customer satisfaction and long-term goals over short-term financial gains. This approach has enabled the company to maintain a strong market presence and deliver consistent value to its policyholders. Sammons Financial Group’s overall strategy of diversification and prudent financial management ensures that Midland National remains a reliable choice for life insurance and annuity products​​.
In summary, Midland National Life Insurance Company, owned by Sammons Financial Group, stands out for its financial robustness, diverse product offerings, and long-term strategic focus. This ownership structure allows the company to maintain a stable financial footing and deliver on its commitments to policyholders, ensuring a secure financial future for generations to come.