We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (17,444)
  • Industry Conferences (3)
  • Industry Job Openings (3)
  • Moore on the Market (189)
  • Negative Media (139)
  • Positive Media (73)
  • Sheryl's Articles (648)
  • Wink's Articles (257)
  • Wink's Inside Story (230)
  • Wink's Press Releases (97)
  • Blog Archives

  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • August 2006
  • A.M. Best Affirms Ratings for Sammons Financial Group, Inc. and its Subsidiaries

    July 14, 2016 by Best's News Service

    CONTACTS:
    Anthony McSwieney
    Senior Financial Analyst
    +1 908 439 2200, ext. 5715
    anthony.mcswieney@ambest.comWilliam Pargeans
    Assistant Vice President
    +1 908 439 2200, ext. 5359
    william.pargeans@ambest.com
    Christopher Sharkey
    Manager, Public Relations
    +1 908 439 2200, ext. 5159
    christopher.sharkey@ambest.comJim Peavy
    Assistant Vice President, Public Relations
    +1 908 439 2200, ext. 5644
    james.peavy@ambest.com

    FOR IMMEDIATE RELEASE

    OLDWICK – JULY 14, 2016
    A.M. Best has affirmed the financial strength rating of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” ofMidland National Life Insurance Company (Midland National) and North American Company for Life and Health Insurance (North American) (both domiciled in Des Moines, IA). In addition, A.M. Best has affirmed the ICR of “a-” and issue rating of “a-” for Sammons Financial Group, Inc. (SFG, Inc.) (Delaware), and its $200 million 7.0% senior unsecured notes due 2043. SFG, Inc. is an intermediate holding company for Midland National and North American, and is indirectly owned by Sammons Enterprises, Inc. (SEI). Midland National and North American (the group’s key life/health insurance subsidiaries) are jointly referred to as the Sammons Financial Group (SFG). The outlook for each rating is stable.

    The affirmation of the ratings reflects SFG’s sufficient risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, to support its insurance and business risks. One source of capital growth is through earnings, which have been positive but fluctuating over the past five years. SFG’s investment portfolio is considered well-managed and of good credit quality, and it benefits from the resources and expertise of its investment manager, Guggenheim Partners Investment Management.

    SFG holds prominent market positions in the individual life and fixed indexed annuity marketplaces, with plans to grow its business in Sammons Retirement Solutions, marketing products such as mutual fund IRAs and variable annuities through wholesale distribution through independent broker/dealers. In addition, SFG’s enterprise risk management program is highly developed with well-defined monitoring processes. Lastly, the group has good financial flexibility and financial leverage and interest coverage ratios are well within A.M. Best tolerances for the ratings.

    Partially offsetting rating factors include the group’s high exposure to interest-sensitive liabilities and structured securities, but these securities have generally performed historically well. In addition, risk-adjusted capital is enhanced through use of reinsurance, financial leverage and captive reinsurers. Lastly, while SFG is a strong competitor in its core markets, competition in these markets is considered high.

    This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activityweb page.

    A.M. Best is the world’s oldest and most authoritative insurance rating and information source.

    European Union Disclosures
    A.M. Best – Europe Rating Services Limited (AMBERS), a subsidiary of A.M. Best Rating Services, Inc., is an External Credit Assessment Institution (ECAI) in the European Union (EU). Therefore, credit ratings issued and endorsed by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC.

    Australian Disclosures
    A.M. Best Asia-Pacific Limited (AMBAP), Australian Registered Body Number (ARBN No.150375287), is a limited liability company incorporated and domiciled in Hong Kong. AMBAP is a wholesale Australian Financial Services (AFS) Licence holder (AFS No. 411055) under the Corporations Act 2001. Credit ratings emanating from AMBAP are not intended for and must not be distributed to any person in Australia other than a wholesale client as defined in Chapter 7 of the Corporations Act. AMBAP does not authorize its Credit Ratings to be disseminated by a third-party in a manner that could reasonably be regarded as being intended to influence a retail client in making a decision in relation to a particular product or class of financial product. AMBAP Credit Ratings are intended for wholesale clients only, as defined.

    Credit Ratings determined and disseminated by AMBAP are the opinion of AMBAP only and not any specific credit analyst. AMBAP Credit Ratings are statements of opinion and not statements of fact. They are not recommendations to buy, hold or sell any securities or any other form of financial product, including insurance policies and are not a recommendation to be used to make investment /purchasing decisions.

    Important Notice: A.M. Best’s Credit Ratings are independent and objective opinions, not statements of fact. A.M. Best is not an Investment Advisor, does not offer investment advice of any kind, nor does the company or its Ratings Analysts offer any form of structuring or financial advice. A.M. Best’s credit opinions are not recommendations to buy, sell or hold securities, or to make any other investment decisions. For additional information regarding the use and limitations of credit rating opinions, as well as the rating process, information requirements and other rating related terms and definitions, please view Understanding Best’s Credit Ratings.

    A.M. Best receives compensation for rating related services provided to organizations that it rates. A.M. Best does not offer consulting or advisory services.

     
     

    Related Companies

    For information about each company, including the AMB Credit Reports, group members (where applicable) and news stories, click on the company name. An additional purchase may be required.

    AMB# Company Name
    006711 Midland National Life Insurance Company
    006827 North American Company for L & H Ins
    051524 Sammons Enterprises, Inc.
    069731 Sammons Financial Group
    050730 Sammons Financial Group Inc
     

    Originally Posted at AM Best on July 14, 2016 by Best's News Service.

    Categories: Industry Articles
    currency