William Rigsbee, a World War II veteran who helped turn Midland National Life Insurance Co. into a major industry player, died May 1, according to the News & Observer of Raleigh, North Carolina.
Rigsbee, 90, served as president and chief executive officer of Midland National from 1961 to 1992.
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While Rigsbee was at Midland National, the company increased the amount of life insurance it had in force to $50 billion, from $275 million.
Midland National is now a unit of Sammons Financial Group and a major issuer of life insurance and annuities. Esfand Dinshaw, the chairman of Sammons, said in a statement that Rigsbee put Midland National on the path toward unparalleled growth by introducing a regional sales director program. The program helped the company build its field force and boost sales, Dinshaw said.