Midland National receives A+ rating from A.M. Best
Scoring the second-highest financial strength ranking possible from A.M. Best, Midland National recently merited an A+ from the well-known insurance industry source for news, data and ratings as well as sustaining a “Stable” credit rating.
Awarding the designation on Aug. 2, the New Jersey-based ratings provider commended Midland National for its “strong operating performance, favorable business profile and appropriate risk management.”
Midland National initially appeared on A.M. Best’s radar in 1980, when it earned its first A+ from the firm; ever since, the West Des Moines, Iowa-based firm with 19th-century origins rooted in America’s heartland has consistently upheld its A+ status.
The company’s reconfirmed grade denotes the second-highest of 15 categories in all conferred by A.M. Best. Scores are calculated and assigned on the basis of several criteria: financial vigor, demonstration of functional capability and the ability to meet its commitments to policyholders.
Midland National’s latest recognition closely follows earlier 2018 achievements including an A+ from Fitch Ratings and inclusion in Ward’s Top 50 list of highest-performing life-health insurance companies.
Established in 1906, Midland National Life Insurance Co. operates under the umbrella of its parent company Sammons Financial Group. A.M. Best is a third-party independent reporting business.