The Sammons Financial Group is moving some departments to a new, 120,000-square-foot service center in South Dakota.
Sammons, Chicago, is the privately held parent company of Midland National Life Insurance Company, Sioux Falls, S.D.; North American Company for Life and Health Insurance, Chicago; Sammons Annuity Group, Des Moines, Iowa; and Sammons Securities Company, Ann Arbor, Mich., a broker-dealer.
The subsidiaries will be keeping sales, marketing and product development operations at their current locations, but the subs’ new business, underwriting, claims, agency services, cash processing and accounting controls operations will move to Sioux Falls, Sammons says.
The new Sioux Falls offices will be home to Midland National as well as to the Sammons service center, Sammons says.
In related news, Sammons says Steve Palmitier, who has been president of Midland National since 2003, also will become president of North American Company for Life and Health Insurance.