Midland National Life Insurance Company
Caribbean Insurers Ltd is proud to have Midland National as its main Life Insurance Company. We would like to share some information with you about this sterling Company.
Annually, Ward Group analyzes the financial performance of over 800 life-health insurance companies domiciled in the United States and identifies the top performers. This group is called the Ward's 50 for the year.
Midland National was included in the Ward's Top 50 Companies, out of 800, in 2009.
Midland National's culture is driven by a set of shared values - Integrity, Openness, Respect, and Accountability. These values keep the company, its employees, and its representatives focused on doing the right things in the right way. You'll find that our culture is evident in our mission, history, stability, and investment philosophy.
In 1906, the company that would eventually evolve into Midland National Life Insurance Company was born on a late summer evening in the Black Hills of South Dakota. To capitalize the new company, the six directors were required to apply for a $1,000 life insurance policy and pay an assessment of $300. We paid our first claim in 1908.
C.A. Sammons & Associates of Dallas, TX acquired the majority of the Midland National stock in 1958. Charles A. Sammons, president of Reserve Life and owner of eight life insurance companies, had long admired the rapid growth of Midland National, which had doubled its life insurance in force during the prior five years.
Today, Midland National is a member of Sammons Financial Group, which means that we offer something that is unique in the life insurance industry: private ownership with employee-shareholders2. We live by the belief that employee-shareholders with solid personal values yield positive behaviors that produce strong business results. This kind of ownership creates an atmosphere where personal, efficient service is the priority.
With life operations located in Sioux Falls, South Dakota, the Annuity Division located in West Des Moines, Iowa, and Corporate Markets located in Fargo, North Dakota, Midland National operates in 49 states, the District of Columbia, Puerto Rico, Guam, the Virgin Islands, the island of Anguilla, and on several overseas military installations.
Why is our stability important to you? As a privately held company, Midland National is not subject to the short term earnings pressures that publicly held companies often face to satisfy Wall Street's expectations. We are a company with plans to perpetuate itself for hundreds of years, not the next quarter or fiscal year. We focus on the long term. We focus on you.
A company's investment philosophy is a good indication of how well the company will fare in good and bad economic environments. Midland National strives for a quality, comprehensive, and diverse investment portfolio and we maintain high liquidity, with over 80% of our investments in cash, short-term investments, and publicly traded securities.
Midland National provides the widest possible portfolio of Life Insurance policies - from Term Life, through Universal Life, investment oriented vehicles, flexible Whole Life - to annuities.
Call in and ask our experienced staff about any of your Life Insurance needs. We will guide you to look at the best options with Midland National.