AM Best Assigns Issue Credit Rating to Sammons Financial Group, Inc.’s New Senior Unsecured Notes

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating of “a-” (Excellent) to the $750 million 5.95% senior unsecured notes, due June 2036, issued by Sammons Financial Group, Inc. (SFG) (Delaware). The outlook assigned to this Credit Rating (rating) is stable.

Proceeds from the issuance will be used for general corporate purposes including business growth at SFG’s two insurance operating subsidiaries – Midland National Life Insurance Company and North American Company for Life and Health Insurance. AM Best notes that SFG’s adjusted financial leverage will increase to approximately 22.5% from 2025’s year-end adjusted financial leverage of 18.6%. Interest coverage with this debt issue is expected to remain favorable and is considered adequate. SFG maintains sufficient liquidity to service its debt along with a well-laddered debt maturity structure.

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