CHICAGO, July 26, 2017 (GLOBE NEWSWIRE) — Midland National was named to the 2017 Ward’s Top 50 list of top performing insurance companies that have achieved outstanding financial results in the areas of safety, consistency and performance over a five year period from 2012 to 2016.
“We are proud to once again to be recognized by Ward’s as one of their Top 50 Life and Health Insurance Companies,” said Steve Palmitier, president and chief operating officer of Midland National Life Insurance Company. “For more than 110 years, Midland National has stood for strength and stability. Being included as a member of this list further validates our company’s ability to meet our obligations to our policyholders.”
Ward Group is the leader of benchmarking and best practices services for the insurance industry. Each year, the group analyzes the financial performance of over 700 life-health insurance companies based in the United States and identifies the top performers in each segment based on objective data and subjective quality measures. Visit Ward’s to learn more about the Ward’s Top 50 list of top performing life-health insurance companies.
The Ward’s Top 50 listing is one of the latest accomplishments achieved by Midland National. On May 2, 2017, Fitch Ratings, a global leader in financial information services and credit ratings, assigned an Insurer Financial Strength rating of A+ (Stable), the fifth highest of 19 possible rating categories. On July 6, 2017, A.M. Best reaffirmed Midland National’s A+ (Superior) rating, second highest out of 15 categories. 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 the ability to meet its obligations to policyholders.
ABOUT MIDLAND NATIONAL
Founded as Dakota Mutual Life Insurance Company in 1906, Midland National® Life Insurance Company has protected families and preserved legacies for generations. Midland National is one of the leading insurance companies in America. Midland National is a member of Sammons® Financial Group, Inc. With its Annuity Division located in West Des Moines, Iowa and its Life Operations location in Sioux Falls, South Dakota, Midland National operates in 49 states and the District of Columbia through its 12,000 licensed sales professionals. For more information, please visit midlandnational.com.
A+ (Stable) Rated by Fitch Ratings
Fitch Ratings, a global leader in financial information services and credit ratings, on [May 2, 2017], assigned an Insurer Financial Strength rating of A+ Stable for [Midland National] [North American]. 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 performance. For more information, read the Fitch Ratings report.
A+ (Superior), the second highest rating out of 15 categories, was affirmed by A.M. Best for Midland National Life Insurance Company as part of Sammons Financial Group on July 6, 2017. 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 ongoing obligations to policyholders.
Sammons® Financial Group is comprised of Midland National® Life Insurance Company, North American Company for Life and Health Insurance®, Sammons Retirement Solutions® Inc. and Sammons Financial Network® LLC, member FINRA.Contact: John MyersAssociate Vice PresidentCorporate Communications