Sammons Financial Group · Chicago, IL United States
Company Description
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This link will open in a new window The Sammons Financial Group swims in the brisk waters of insurance and financial services. The group includes insurance and financial services firms owned by Sammons Enterprises . Its member companies include life insurers Midland National Life Insurance Company , which has operated since 1906; Chicago-based North American Company for Life and Health Insurance, operational since 1886; Sammons Annuity Group; Sammons Corporate Markets Group; and Sammons Securities Company. The company originated in 1995 as Midland National and has added other member companies since then. To read the full description, subscribe now.
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Key Sammons Financial Group Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 1,200 |
Sammons Financial Group Executives
9 executives listed for Sammons Financial Group's Chicago, IL location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Michael Masterson | Network |
| President and COO | John Craig | Network |
| SVP Organizational Development | Brian Rohr | Network |
Competition
Competitive Landscape for Sammons Financial Group
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Sammons Financial Group Competitors
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