Sammons Financial Group Creates Corporate Development Division, Appoints New General Counsel

New area to focus on growth strategy outside of traditional insurance and annuity business lines

Sammons Financial Group has named Brian Hansen, General Counsel and Corporate Secretary, to a new role within the company leading the growth strategy outside of its existing lines of business. Hansen will assume the senior-level position of Chief Development Officer, requiring a dedicated focus on growth in new and adjacent spaces to Sammons Financial Group.

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Amy Teas, Senior Vice President, General Counsel and Corporate Secretary, Sammons Financial Group (Photo: Business Wire)

Amy Teas will replace Hansen in his former role and assume leadership of the Legal, Compliance, Government Affairs, and Procurement departments as Senior Vice President, General Counsel and Corporate Secretary. The changes are effective September 1, 2023.

Over the past decade, Sammons Financial Group has witnessed strong growth in its sales and earnings. Additionally, it maintains A+, stable ratings from the three rating agencies that follow it. To complement this trajectory, the company has announced a comprehensive corporate development focus to target and grow its footprint outside of its existing life insurance, annuity, and securities business. Sammons Financial Group will specifically look to expand its presence in other financial services areas.

“We are proud of our record of historic growth. Our member companies date back well over a century and what we have experienced since our inception is planned and purposeful growth,” said Esfand Dinshaw, chief executive officer, Sammons Financial Group. “In 2021, we ventured into wealth management which is fundamentally outside of our existing insurance and securities-industry focus. Today’s announcement to establish a corporate development area creates a platform laser focused on strategy, development, and growth in wealth management and other new and adjacent spaces to Sammons Financial Group.”

Strategy and business development for Sammons Financial Group’s core industry lines will remain unchanged. Each current business line president will continue to direct and develop their individual insurance and securities-based operations. Those four businesses include Sammons Independent Annuity, Life, Institutional, and Corporate Markets groups.

“Strong, consistent growth requires a focus and commitment to succeed. Today’s climate is challenging for all financial services companies. While hitting our targets in the current economic and regulatory environment can pose a challenge, we are uniquely qualified to build upon our years of experience,” Dinshaw said. “The time is right to invest in this area to take us to the next level.”

Dinshaw added that Hansen’s years of leadership and experience, legal expertise, and close ties to parent company Sammons Enterprises make him the ideal person to lead this change.

“It is exciting to think about our future growth outside of where we have been successful for so many years,” said Brian Hansen, Sammons Financial Group Chief Development Officer. “I look forward to driving this effort and delivering results that benefit the enterprise.”

Amy Teas, newly named General Counsel, has been with Sammons Financial Group for 10 years, after several years as a litigator in Des Moines, Iowa. She will assume the role of Senior Vice President, General Counsel and Secretary. Through this promotion, Teas will join the senior staff and report directly to Dinshaw.

“I’m equally excited for Amy to join our senior team,” Dinshaw said. “She is well regarded throughout our entire organization, having led numerous, important projects and initiatives during her tenure. Her practical approach to issues, and her performance and dedication make her a natural fit to elevate to the General Counsel position,” Dinshaw said. “I look forward to having her counsel and insight as a member of our senior staff.”

About Sammons® Financial Group, Inc.

The companies of Sammons Financial Group® help families and businesses protect their future to enjoy life’s moments today. A subsidiary of Sammons Enterprises, Inc., Sammons Financial Group is privately owned with member companies that are among the most enduring and stable in the financial services industry. Our companies include Midland National® Life Insurance Company (including Sammons® Corporate Markets Group); North American Company for Life and Health Insurance®; Sammons Institutional Group® (including Midland Retirement Distributors® and Sammons Retirement Solutions®) and Beacon Capital Management℠, Inc. Together, we offer today’s most sought-after life insurance, annuity, and retirement planning products.

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