AM Best Affirms A+ Rating of North American Company for Life and Health Insurance
CHICAGO, IL, August 9, 2016 — A.M Best has affirmed the A+ (Superior) rating North American Company for Life and Health Insurance®, a member company of Sammons® Financial Group. Additionally, the outlook for this rating was called stable.
In its statement, AM Best cited Sammons Financial Group's "prominent market positions in the individual life and fixed indexed annuity marketplaces," as well as an investment portfolio that is "considered well-managed and of good credit quality."
In the AM Best statement, it was noted that, “the group has good financial flexibility and financial leverage and interest coverage ratios well within AM Best tolerances for the ratings.”
“We are very gratified by AM Best's statement," said Esfandyar Dinshaw, Chairman and Chief Executive Officer of Sammons Financial Group. "Our superior rating reflects our commitment to maintaining our obligations to our customers."
AM Best is a large third-party independent reporting and rating company that rates an insurance company on the basis of the company's financial strength, operating performance, and ability to meet its obligations to contract holders. A+ (Superior) is the second highest rating out of 15 categories, and was affirmed for North American Company for Life and Health Insurance as part of Sammons Financial Group on July 14, 2016.
About North American Company
North American Company for Life and Health Insurance is a member of Sammons® Financial Group, Inc. Since 1886, North American has established a tradition of providing quality insurance products to consumers throughout the U.S. We offer a comprehensive portfolio of term, universal life, and indexed universal life insurance products. North American also offers a wide variety of traditional fixed and fixed index annuities and consistently ranks among the top fixed index annuity carriers in the U.S. (Source: Wink's Sales & Market Report, Quarterly Indexed Sales & Market Report). For more information, please visit www.northamericancompany.com.