2001: A Growth Spurt for Midland National And Sammons Financial Group
From 1997 to 2001, Midland National grew in both size as well as complexity through its own efforts and those of its parent company, Sammons Enterprises, Inc. A number of support functions were combined with other Sammons-owned financial companies. An annuity division was created, and Midland National acquired several businesses and distribution systems. Combined, assets grew $5.4 billion to $9.2 billion.
The entities forming Sammons Financial Holdings reached more than $196 billion of individual insurance in force on more than 1.2 million insurance policies, making it one of the industry's top-30 groups in terms of individual insurance in force.