# National Life Group

National Life Group is an Insurance based in Montpelier, United States.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Montpelier, United States
- **Region:** North America
- **Address:** 1 National Life Drive, Montpelier, VT 05604, United States
- **Founded:** 1848
- **Assets under management:** Undisclosed
- **Website:** nationallife.com
- **LinkedIn:** https://www.linkedin.com/company/national-life-group
- **Wikidata:** Q6974186

## Regulatory record

- **Reports private funds:** No

## About

National Life Group is a financial services company based in Montpelier, Vermont. It specializes in life insurance, retirement planning, and investment products. The company offers life insurance, annuities, mutual funds, and retirement plans to individuals, families, business owners, employers, plan sponsors, and financial professionals.

## Sectors

- Private Credit
- Real Estate
- Private Equity

## Offices

- Addison, TX, United States

## People

- Mehran Assadi — Chairman, CEO, and President
- Jason Doiron — Chief Investment Officer
- Eric Sandberg — Chief Financial Officer and Chief Risk Officer
- Bob Cotton — Chief Operating Officer

## Questions

### Who makes investment decisions at National Life Group?

Jason Doiron serves as Chief Investment Officer, overseeing the general account portfolio. Mehran Assadi, as Chairman and CEO, holds ultimate fiduciary authority. Eric Sandberg, as CFO and Chief Risk Officer, provides risk oversight on investment allocations.

### How is National Life Group structured — is it a public company, private, or mutual?

National Life Group is a mutual insurance holding company, meaning it is owned by its policyholders rather than public shareholders or private investors. This structure removes quarterly earnings pressure and allows for longer-duration investment strategies. Its main operating subsidiaries are National Life Insurance Company and Life Insurance Company of the Southwest.

### What does the general account portfolio actually invest in?

The portfolio is anchored by public fixed income and includes a commercial mortgage loan portfolio focused on US properties, private placement corporate debt, and a diversified set of limited partnership commitments across private equity, infrastructure, and real assets. The firm also owns its headquarters campus and a secondary campus in Texas as direct real estate holdings.

### What is National Life Group's relationship with 26North?

26North, the alternative asset manager founded by Apollo Global Management co-founder Josh Harris, serves as a strategic reinsurance partner to National Life Group. This reinsurance arrangement provides National Life with access to 26North's origination capabilities while transferring a portion of the insurance liabilities off its own balance sheet.

### Does National Life Group invest directly in private companies or only through funds?

National Life Group invests primarily through limited partnership commitments to external private funds rather than making direct control investments in operating companies. The private placement debt portfolio does involve direct corporate lending relationships. The firm's commercial mortgage portfolio is also directly originated and managed.

### How does being headquartered in Vermont shape National Life Group's investment approach?

The Montpelier headquarters — a rarity for an insurer of National Life's scale — reinforces a conservative, relationship-driven culture that favors long-tenured underwriting and credit selection over rapid portfolio turnover. The firm is one of the largest private employers in Vermont and its investment team operates away from the concentration of insurance capital in New York and Hartford, contributing to a distinct origination posture in private credit and commercial mortgages.

## Related profiles

- [National Jewish Health](https://altss.com/profile/national-jewish-health-njh)
- [National Life Group Pension Plan](https://altss.com/profile/national-life-group-pension-plan)

---

Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/national-life-group

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology