Sammons Financial Group Life Division Leader to Retire at Yearend
DES MOINES, IA – June 7, 2021 – Steve Palmitier, President and Chief Operating Officer of Sammons Financial Group’s life insurance division, announced today his plan to retire at the end of the year. Palmitier is a financial services industry veteran and has been instrumental at growing Sammons Financial Group’s life insurance business lines – Midland National and North American – since joining the company in 1996.
“First and foremost, Steve is a builder of relationships – which is the fundamental building block of success in the financial services industry,” said Esfand Dinshaw, Sammons Financial Group Chief Executive Officer. “While we celebrate his decades of service, we will miss Steve and the focus, integrity, and openness he brought to running our life insurance business line for so many years.”
Palmitier is responsible for life insurance sales, distribution, marketing, research, product development, and strategy for Midland National and North American. Palmitier has 43 years in the life insurance industry, beginning his career as an agent and later becoming a regional vice president and home office executive.
In his 25 years at Sammons Financial Group, he grew the life business line and led his team through key mergers and acquisitions including the acquisition of Clarica and its assimilation into the North American brand. He has focused on growing the life business line through both traditional and non-traditional distribution channels.
“The key to Steve’s success is defining and meeting aggressive growth goals through setting strategic initiatives, developing innovative products, and establishing trusted relationships,” Dinshaw said. “He thrives on getting to know people and sharing a few stories and laughs with them in the process of helping clients meet their security needs.”
Most recently, Palmitier redefined the company’s overall life insurance strategy through a focus on product, distribution, and enhanced customer experience. This is specifically evident through increased investment in technology modernization, capability mapping, and experience prototyping, as well as streamlining internal processes and expediting the end-to-end customer and client experience. In his role at Sammons Financial Group, Palmitier also previously served as president of Sammons Securities Company, LLC.
“I’ve always loved the insurance industry and what it stands for – protecting families and their financial futures. I am grateful for my team’s work and the continued partnership with producers representing Midland National and North American,” Palmitier said. “While I will miss the people, I look forward to seeing the company grow in the years ahead.”
Sammons Financial Group will immediately begin the process to find Palmitier’s successor. Palmitier will stay on staff throughout the process and be involved in the seamless transition of business line leadership.
“We believe in the protection, security, and peace of mind that life insurance offers our agents, customers, and clients,” said Dinshaw. “We will have a capable leader in place to move forward with our ongoing strategy and commitment to grow our life insurance business.”
About Sammons® Financial Group, Inc.
The companies of Sammons® Financial Group, Inc. help families and businesses protect their future to enjoy life’s moments today. A subsidiary of Sammons Enterprises, Inc., Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Our companies include Midland National® Life Insurance Company (including Sammons® Corporate Markets); North American Company for Life and Health Insurance®; Sammons Institutional Group® (including Midland Retirement Distributors® and Sammons Retirement Solutions®) and Beacon Capital Management, Inc. Together, we offer today’s most sought-after life insurance, annuity, and retirement planning products. Sammons Financial Group: With You for Every Moment®.