Sammons Financial Group announced on Nov. 19 that Esfand Dinshaw has been named Chief Executive Officer of the West Des Moines, Iowa-based company. Esfand will report to Mike Masterson, who will continue as Chairman of the Board for Sammons Financial Group and Chief Executive Officer of Sammons Enterprises.
Cindy Reed is promoted to President of Sammons Annuity Group. In addition to her role as President, she will also continue as President of Sammons Securities Company, the company’s full-service broker-dealer.
Midland National Life Insurance Company, North American Company for Life and Health Insurance and Sammons Securities Company are member companies of Sammons Financial Group that are owned by Sammons Enterprises, Inc.
Esfand joined Midland National Life Insurance Company in 1999. He was a principal leader on the team that built Midland National’s and North American’s annuity business from a start up to a $19 billion plus asset business. He was promoted to President of Sammons Annuity Group in 2006.
“Esfand Dinshaw brings the right skill set to lead Sammons Financial Group as we continue to be one of the premier financial companies in the industry,” said Mike Masterson. “Esfand’s outstanding leadership skills and extensive experience in a range of life and annuity product development, corporate actuarial, investments and operations make him the right CEO to lead Sammons Financial Group to success. I’m excited about the opportunity for Esfand to lead Sammons Financial Group and build on the momentum to grow the business by offering the best in financial resources and services, and help our agents and distributors be successful,” added Mr. Masterson.
“We will remain focused on providing long-term value to our partners and policyholders. We are dedicated to delivering quality life insurance and annuity products with superior service,” said Mr. Dinshaw.
Reed will be responsible for the annuity line of business for both Midland National and North American Company. Cindy joined Sammons Annuity Group in 2001 as Vice President-Sales, was appointed Sr. Vice President and Chief Marketing Officer in 2006 and President of Sammons Securities Company in 2008.