A Message to You History

Every day, people depend on North American Company to Founded in 1886, North American has stood strong to
be there for them when they need it most. Whether you are help protect those who count on us for financial security.

2009 a distribution partner, policyholder, or are considering

North American to protect your financial future, we take
our financial strength seriously.
Through two world wars, the Great Depression, and multiple
recessions, North American’s private ownership and focus
on the long term has instilled trust and confidence in those

annual report
A+ (Superior) A.M. Best
A.M. Best is a large third party independent reporting
and rating company that rates an insurance company on
the basis of the company's financial strength, operating
performance, and ability to meet its obligations.
A+ is the second highest rating out of 15 categories and
was assigned to North American Company for Life and
Health Insurance on April 16, 2009. For the latest rating,
access www.ambest.com.
A+ (Strong) Rating Standard & Poor's
Standard and Poor's awarded its "A+" (Strong) rating for
insurer financial strength on March 31, 2010 to North
American Company for Life and Health Insurance as part of
the Sammons Financial Group.
The "A+" (Strong) rating, which is the fifth highest out of
22 available ratings, reflects the financial strength of North
American Company for Life and Health Insurance, member
of the Sammons Financial Group.
Your continued confidence remains our key focus, which
is why we follow a disciplined and conservative investment
strategy. As a privately held company, we plan for the long
term, which resulted in a strong performance during
2009. Our strength and stability are a testament to our
ownership structure.
We consistently invest in new products, grow
distribution, enhance our services, and build upon our
professional culture.
Whether we’re serving in our communities or spending
a little extra time with a policyholder, we’re focused on
doing what’s right. Thank you for your confidence in North
American Company, a member of the Sammons
Financial Group.
that depend on us. Now with almost 125 years under its
belt, North American has over $9.1 billion in assets.
1886 – Founded as North American Accident Association
1890 – A.E. Forest purchased the company for $2,000 and
appointed the company’s first general agent
1918 – North American became the first company to offer
a disability insurance policy for women
1981 – Actively enters the brokerage marketplace
1984 – North American introduces its first universal
life product
1999 – Sammons Annuity Group, North American’s Annuity
Service Center, founded
2001 – Achieves $100 billion of life insurance in-force

Executive Office Annuity Service Center

525 W Van Buren PO BOX 79905
Chicago IL 60607 Des Moines IA 50323
Esfand Dinshaw
www.nacolah.com www.nacannuity.com Chief Executive Officer
Sammons Financial Group

PR-1291 R1 4/10
PR-1291 R1 4/10 PR-1291 R1 4/10
 Stability Strength Balance Sheet2
Our employee-shareholder core values:
As part of a privately held company, we are not subject Assets
to the short-term earnings pressures that publicly held • Openness North American’s asset quality is excellent. Overall net
As of December 31, 2009
companies face to satisfy Wall Street’s expectations. We are investment income provides ample margins to cover
contractual obligations to all policyowners. (In thousands)
a company with plans to perpetuate itself for hundreds of • Accountability
years, not the next quarter or fiscal year. We focus on the Bonds..........................................................................................$8,080,780
long term. We focus on you. • Respect • Bonds consist of US Government, government Preferred Stock...................................................................................91,573
agency, and corporate securities. Common Stock ..................................................................................26,919
Ownership • Integrity
Cash and Short-term Investments......................................................42,147
BONDS BY NAIC QUALITY RATING
North American offers something that is unique in the
Loans to Policyowners........................................................................80,561
North American's parent company, Sammons Enterprises, 94% Investment Grade Other Invested Assets.......................................................................504,160
insurance industry: private ownership with employee-
1 Inc. is a holding corporation that owns and operates
shareholders . This kind of ownership creates an atmosphere 77% NAIC Class 1 Accrued Investment Income...............................................................72,793
businesses across a diverse range of industries.
where personal, efficient service is the priority. Other Assets.....................................................................................205,006
17% NAIC Class2
• Briggs Equipment Premiums in Course of Collection.......................................................13,587
6% Non-Investment Grade Total Assets.................................................................. $9,117,526
• Briggs Equipment International

• The Grove Park Inn Resort and Spa

Liabilities and Capital
• Sammons Realty Corporation As of December 31, 2009
• Stocks consist primarily of public utilities, adjustable
rate preferred, and other publicly related securities. (In thousands)
• Sammons Financial Group — which includes
North American Net Policy Reserves.....................................................................$7,091,419
• Short-term investments consist of commercial paper,
money market funds, and other high-quality, short- Policy Claim Reserves . ......................................................................39,483
Headquartered in Dallas, Texas with more than 3,500 maturity investments. Commissions, Taxes & Expenses.........................................................61,492
employees in the United States, Mexico, and the United
Asset Valuation Reserve (AVR) . .........................................................51,566
Kingdom, Sammons Enterprises ranks among the largest INVESTMENTS BY TYPE1
privately owned companies in the world .
2 Retained Assets Liability .................................................................108,133
 Interest Maintenance Reserve . .........................................................41,256
91.6% Bonds
1 Employee-shareholders do not include independent insurance producers or Repurchase Agreements & Other Borrowings..................................942,124
registered representatives. 5.7% Other Investments Other Liabilities................................................................................134,664
2 Ranked number 162 on Forbes 2009 List of America’s Largest Private Companies. The 2009 list
included 248 closely held corporations that had sales of more than $2 billion. 1.3% Stocks Total Liabilities............................................................. $8,470,137
0.9% Policy Loans
Common Stock.....................................................................................2,500
Paid-In & Contributed Surplus . .......................................................407,389
0.5% Cash & Short Term Investments Unassigned Surplus . .......................................................................237,500
1 Stated as a percent of total invested assets.
Total Capital and Surplus...............................................................$647,389
Total Liabilities, Capital and Surplus.............................. $9,117,526
2 Information presented is on a Statutory Accounting basis.

PR-1291 R1 4/10