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The Midland Group history
The Midland Group company history timeline
1989: CS Crable Sportswear is formed.
1989 Midland National achieves $25 billion of life insurance in force.
American Modern was hit by more than $2.3 million in losses related to Hurricane Andrew in 1992.
1992 William A. Rigsbee retired as president, naming John C. “Jack” Watson as Midland National’s new president and chief executive officer.
Earnings fell to around $1 million, down from $9.6 million in 1995.
1996 1996 marked Midland National’s 90th Anniversary.
His predictions of a turnaround for the sportswear division proved to be premature, though; the company would sell off the unprofitable business in 1997.
1999 Sammons Annuity Group was born in West Des Moines, Iowa.
1999: The company moves from the American Stock Exchange to the NASDAQ.
Insurance industry consulting firm Ward Financial Group recognized American Modern as one of the nation's "top 50" property and casualty insurers in 2000.
Rising interest rates cut into manufactured housing industry sales during the first half of 2000, but Midland Company's manufactured housing insurance business continued to produce solid margins.
Moreover, while the majority of companies trading on NASDAQ took a hit as the stock exchange tumbled in the second half of 2000, Midland Company was one of a few that posted new highs.
2000: The company enjoys its fourth straight year of record results.
The September 11, 2001 attacks on New York and Washington, D.C., had stimulated growth in the E&S market, which had already experienced an upward tick.
The company entered into a strategic alliance with Amica Mutual Insurance Company in 2001.
During 2001, the company also saw an increase in its fire loss ratio in manufactured housing programs.
2001: Assets top $1 billion.
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.
Premium growth outside manufactured housing climbed in excess of 20 percent in 2003, but the improvement was offset by problems within the motorcycle line.
M/G Transport continued to operate in a small geographic area, the lower Mississippi River below Baton Rouge and the Gulf Inter Coastal Waterway, but in 2003 it opened an office in St Louis, Missouri, to sell fee-based management for other companies' barges.
2003 Steve Palmitier, president of Sammons Securities Company, was also named president and COO of Midland National in 2003.
2004 Midland National exceeded $100 billion of in force life insurance.
2006 Midland National celebrated its 100th anniversary, launching a radio and print campaign, titled, "Sioux Falls at its Best." Midland National recognized its achievements in the community over the past century.
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.
2010 Esfand Dinshaw was named CEO of Sammons Financial Group in January 2010.
2011 After a successful career with Sammons Enterprises, Inc., Mike Masterson retired from his position of chairman of SFG.
2012 Esfand Dinshaw was named chairman of SFG, also maintaining his position as CEO of the company.
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.
2016 Having doubled to over 400 employees, Sammons Annuity Group celebrated a record year with over $6 billion in new business.2 In 2016, the entities forming SFG reported over $73.3 billion in assets and over $266.9 billion of in force life insurance.3
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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| MedData | 1980 | $220.0M | 200 | - |
| MedKoder | 2012 | $820,000 | 175 | 2 |
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| Healthfirst Family Care Center | 1971 | $10.0M | 75 | 20 |
| IEHP | 1996 | $800.0M | 855 | 129 |
| HealthPlus | 1996 | - | 830 | 2,176 |
| Orion HealthCorp | 1985 | $43.9M | 423 | - |
| Advantage Health Solutions | 1999 | $186.7M | 200 | - |
| Promises Behavioral Health | 2007 | $1.0B | 750 | 20 |
The Midland Group history FAQs
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The Midland Group may also be known as or be related to Midland Group, Midland Professional Services Inc and The Midland Group.