Chicago-based insurer Sammons Financial Group ranks No. 10 in sales

An industry ranking of U.S. insurance companies has positioned Chicago-based Sammons Financial Group as 10th in the nation in terms of sales, according to an April 5 news release.

LIMRA International, an analyst for health and life insurance businesses, ranked 83 insurers based on their annual premiums.

Sammons Financial, an umbrella organization of companies in the retirement and investment business including North American Life and Health Insurance and Midland National Life Insurance Co. as well as having a thriving corporate market division, holds the No. 10 spot based on the three firms’ combined premiums.

Steve Palmitier, chief operating officer of both Midland and North American, said the companies’ 11 percent annual growth rate since 2012 has bested the competitors’ average, which checks in at only 2 percent, the release said.

“This is quite the achievement when you consider some of the companies on each side of us are household names,” Palmitier said in the release. “The consistent execution of our strategy and relationships with our distribution partners has put us in a great place.”

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