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Midland National Life Insurance Company Inc history
Midland National Life Insurance Company Inc company history timeline
When the first death claim came early in 1908, it was necessary for company leaders to borrow the funds needed to pay the claim.
1947 Frank L. Bramble was named President.
1956 The company's 50th anniversary was celebrated on May 23, 1956—also its president’s birthday.
In 1961, William A. Rigsbee was named president of Midland National.
1978 In 1978, Charles Sammons established an Employee Stock Ownership Plan (ESOP). The Sammons ESOP was designed to provide more than a retirement benefit.
Gillis died November of 1983 and Rigsbee returned as president.
1989 Midland National achieves $25 billion of life insurance in force.
1996 1996 marked Midland National’s 90th Anniversary.
2002 Sammons Financial Holdings was renamed Sammons Financial Group (SFG), naming Mike Masterson president and CEO. Under Masterson's leadership, SFG concentrated on sharing resources and services of its member companies.
2004 Midland National exceeded $100 billion of in force life insurance.
2009 After 30 years in its downtown location, Midland National's administrative office moved into a new environmentally friendly SFG building in February, 2009, providing space for over 500 employees with room for further expansion.
2011 After a successful career with Sammons Enterprises, Inc., Mike Masterson retired from his position of chairman of SFG.
2014 Midland National continued to grow, and 2014 was noted as the #1 company in the Personal Producing General Agent (PPGA) distribution by sales.1 SFG also sold its ownership interest in Sammons Securities Company.
2017 Sammons Institutional Group was formed, offering individual retirement products4 ranging from mutual fund IRAs to variable annuities, as well as a limited fixed annuity product series.
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Midland National Life Insurance Company Inc competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| The Prudential Insurance Company of America, Inc. | 1873 | $21.0B | 30,000 | - |
| Trustmark Insurance Co | 1913 | $24.0M | 7,500 | 213 |
| MAPFRE | 1920 | $350.0M | 600 | 3 |
| Alfa | 1983 | $16.6B | 68,000 | 113 |
| 21st Century Insurance | 1958 | $8.4B | 7,500 | - |
| John Hancock | 1862 | $31.0M | 6,700 | 73 |
| American Integrity Insurance | 2006 | $21.4M | 240 | 1 |
| The Benefit Services Group, Inc. | - | $17.7M | 50 | - |
| Transamerica Corporation | - | $6.1M | 25,000 | 105 |
| American Enterprise Mutual Holding Company | 1999 | $1.2B | 1,300 | - |
Midland National Life Insurance Company Inc history FAQs
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