National Life Group
 | |
| Industry | Insurance: life and annuity |
|---|---|
| Founded | November 13, 1848 |
| Headquarters | , United States |
Key people | Mehran Assadi (Chairman, CEO, and President)[1] |
| $223.5 Million (2019)[2] | |
| Total assets | $34 Billion (2019)[2] |
Number of employees | 1,200 (2019)[3] |
| Website | http://nationallife.com/ |
National Life Group is a group of financial service companies that offers life insurance and annuity products for individuals, families, and businesses. It was chartered in 1848 by the Vermont General Assembly.
History[edit]
National Life Insurance, the predecessor company of National Life Group, was chartered by the Vermont Legislature on November 13, 1848.[4][3][5] It has been insuring people for over 170 years and was one of the first mutual life insurance companies in the U.S.[6] Past insurance customers have included passengers on the Titanic, as well as victims of the 1918 influenza epidemic.[6] It became a member of the Vermont Chamber of Commerce in 1957.[7] National Life offers a range of financial services, including life insurance coverage and retirement plans, and annuities.[8][6] The Group’s customer base was 843,000 in 2016, and in 2017 the face value of its life insurance policies was just over $100 billion.[4]
The company is based in Montpelier, Vermont, with additional offices in Addison, Texas.[9][10][1] Several member companies make up National Life Group, including Life Insurance Company of the Southwest.[11] Equity Services, Inc., a registered broker-dealer and investment advisor, is an affiliate of National Life.[12] In 2017, National Life sold Sentinel mutual funds to Touchstone Investments.[13][14]
In 2019, National Life Group expanded its partnership with Cognizant, an IT consulting corporation.[15]
In March 2020, the company’s CEO, Mehran Assadi, was awarded the Transformative CEO Award for Customer Experience in the insurance category by The CEO Forum.[16][17]
Authors Jackie and Kevin Freiberg, who wrote NUTS! Southwest Airlines’ Crazy Recipe for Business and Personal Success, feature National Life Group in their book CAUSE!.[18][19][20] This, however, was a paid engagement - similar to an advertisement placed in Business Insider. It is currently ranked #747,240 in Amazon Books, a statistic loosely reflective of the content’s value.
Leadership[edit]
- Mehran Assadi: Chairman, Chief Executive Officer, and President[16]
- Nimesh Mehta: Senior Vice President and Chief Information Officer[21]
- Robert Cotton: Chief Operating Officer[22]
- Sarah VanBeck: Chief Financial Officer[23]
- Jason Doiron: Senior Vice President and Chief Investment Officer[24]
Charitable Efforts[edit]
The National Life Group Foundation sponsors various charitable events and programs focused on children, students, and educators. The Foundation helps sponsor the LifeChanger of the Year Award and the National Coalition for Safe Schools.[25] In 2018, the budget for the company’s charitable foundation was $2 million,[3] and in 2019, the Foundation funded the report, “Evidence-Based Strategies to End Childhood Food Insecurity and Hunger in Vermont”.[26]
References[edit]
- ^ a b "Insurer is doubling its Addison office on the tollway". Dallas News. 2019-04-09. Retrieved 2019-12-19.
- ^ a b "National Life Group 2019 Annual Report". Retrieved 2020-04-28.
- ^ a b c "National Life sales outpace national trends". VTDigger. 30 June 2019. Retrieved 19 December 2019.
- ^ a b Efron, Louis. "How The CEO Of National Life Group Drives Continuous Improvement". Forbes. Retrieved 2019-12-19.
- ^ Commissioner, Vermont Insurance (1898). Report of the Insurance Commissioner of the State of Vermont.
- ^ a b c "How This Life Insurance Company Inspires Young Adults". CreditDonkey. 2020-02-18. Retrieved 2020-06-03.
- ^ "National Life Group". Vermont Chamber of Commerce. Retrieved 2020-02-20.
- ^ Zind, Steve (9 March 2016). "National Life Group Reports 2015 Earnings". www.vpr.org. Retrieved 2019-12-19.
- ^ "National Life Group Life Insurance Review". Good Financial Cents®. 2017-09-06. Retrieved 2019-12-19.
- ^ "How National Life manages organic growth from the inside out". CIO. 20 August 2018. Retrieved 19 December 2019.
- ^ "National Life Group Introduces Lifetime Income Option on Indexed Universal Life (IUL) Products". InsuranceNewsNet. 2011-01-05.
- ^ "Equity Services, Inc. SEC financial statements" (PDF). SEC. 27 February 2017.
- ^ "National Life sells Sentinel mutual fund business to Touchstone". Vermont Business Magazine. 2017-10-30. Retrieved 2019-12-19.
- ^ "Sentinel Mutual Funds Acquired by Touchstone Investments | Western & Southern Financial Group". www.westernsouthern.com. Retrieved 2019-12-19.
- ^ "National Life Transforms Customer Experience Program with Cognizant - Apr 16, 2019". News | Cognizant Technology Solutions. Retrieved 2020-04-05.
- ^ a b "Transformative CEO Awards For Customer Experience Announced". Forbes. Retrieved 2020-04-28.
- ^ "The CEO Forum" (PDF). The CEO Forum Group. Retrieved 2020-04-28.
- ^ "This CEO Is Stunning a Sleepy Industry With Culture Change--and Surprising Results". Inc. 13 June 2017.
- ^ "Finding Inspiration In The Wake Of Life'S Storms | InsuranceNewsNetMagazine.com". www.insurancenewsnetmagazine.com. Retrieved 2020-02-06.
- ^ "Cause-driven companies perform better, stand out in sea of sameness". Multivu. 16 February 2016.
- ^ "National Life Group CIO on adjusting to coronavirus". Digital Insurance. 2020-05-11. Retrieved 2020-06-26.
- ^ "National Life sales outpace national trends". VTDigger. 2019-06-30.
- ^ "Washington County Economic Report: Downtowns garner much of the economic development focus". Vermont Business Magazine. 2019-11-11.
- ^ "Jason Doiron | National Life".
- ^ "Indiana School Resource Officer Wins National LifeChanger of the Year Spotlight Award". Cision. 11 December 2019.
- ^ "New report presents strategies to end childhood hunger in Vermont". Vermont Business Magazine. 2019-03-06. Retrieved 2020-02-25.
