S&P Affirms A+ Rating for North American Company

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Outlook remains stable for North American amid uncertainty in life insurance industry.

It takes hard work and a lot of patience, which a lot of our competitors are unwilling to do.” —Steve Palmitier, President and CEO, North American Life Division

The life insurance and annuity industries face plenty of challenges in today’s market, including continued low interest rates and economic uncertainty. North American Company for Life and Health Insurance®, however, remains a strong performer, according to a new report from Standard & Poor’s.

Following the introduction of new rating criteria, S&P issued an A+ rating to North American Company under its holding company, Sammons Financial Group. As of July 11, 2013, the privately held company is in strong financial standing and retains a stable outlook for the future.

The S&P report stressed both the strength and the consistency of North American’s performance relative to its peers, thanks to a well-balanced portfolio of products under Sammons.

"We are proud of our continued strong ratings. They are a key component to ensuring our long-term commitment to policyholders and their retirement values," said Cindy Reed, president of North American’s Annuity Service Center. "Our distribution partners recognize the importance of our long-term perspective and commitment to interest rate integrity."

The extra effort shows. While the life insurance industry declined by 2 percent in sales from 2007 to 2012, according to a report from the Life Insurance Market Research Association, North American Company grew its sales an average of 20% per year in the same time frame.

"A key driver of our success has been the value we offer our distribution partners," said Steve Palmitier, North American Life Division’s president and chief operating officer. "It really is about growing business together."

And business only keeps growing. The company’s life insurance sales continue to exceed this year’s goals.

"It takes hard work and a lot of patience, which a lot of our competitors are unwilling to do," Palmitier said. "There are no shortcuts, and we invest the time and resources needed."

About North American Company

Since 1886, North American has established a tradition of providing quality life insurance and annuity products to consumers throughout the U.S. The privately held company offers a comprehensive portfolio of term, universal life, and indexed universal life insurance products as well as annuities.

For more information, email SalesSupport(at)nacolah(dot)com or call (800) 800-3656, ext. 10411. Visit us at http://www.NorthAmericanCompany.com.

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