American National Insurance Company

American National Group, Inc.
Company typePrivate
Industry
Founded1905; 119 years ago (1905)
HeadquartersOne Moody Plaza
Galveston, Texas, U.S.
Key people
Ross Rankin Moody (chairman of the board)
Tim Walsh (president & CEO)
ProductsInsurance, annuities, mutual funds, Financial products
RevenueUS$4.391 billion (2021)[1]
US$467.5 million (2020)
Total assetsUS$29.5 billion (2020)
Total equityUS$6.6 billion (2020)
OwnerBrookfield Asset Management Reinsurance
Number of employees
4,600[2] (2020)
Websiteamericannational.com

American National Insurance Company (ANICO) is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states and Puerto Rico.

Company description

American National was founded in 1905 by Galveston businessman William Lewis Moody Jr. Today the company offers a wide array of insurance products and services including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. Through its subsidiary, ANREM, the company founded and developed the large-scale housing development, South Shore Harbour, in League City, Texas.[3]

Although a publicly traded company, the majority of the stock had been controlled by the Moody family through the Moody Foundation and Libby Shearn Moody Trust, which are administered by the trust department of the family owned Moody National Bank.[4][5][6][7] In August 2021, Brookfield Asset Management announced that it had agreed to acquire ANICO for $5.1 billion.[8] The acquisition was completed in May 2022.[9]

Subsidiaries

Moody Plaza, American National Insurance's Home Office in downtown Galveston, Texas
American National Insurance Company Building
  • American National Life Insurance Company of Texas
  • American National Life Insurance Company of New York[10]
  • American National Property And Casualty Company[11]
  • Farm Family Casualty Insurance Company[12]
  • United Farm Family Insurance Company[12]
  • Standard Life and Accident Insurance Company[13]
  • Garden State Life Insurance Company[14]

See also

References

  1. ^ "American National Insurance Company - Form-10K". Retrieved March 10, 2019.
  2. ^ "American National Insurance". Fortune. Retrieved 2019-02-15.
  3. ^ Bivins, Ralph (1991-05-19). "League City site in midst of boom/South Shore Harbour is hot". Houston Chronicle. Archived from the original on October 12, 2012. Retrieved 2011-02-25.
  4. ^ "NASDAQ Ownership Summary for ANAT". NASDAQ.
  5. ^ "Moody Foundation 2005 Annual Report" (PDF). Moody Foundation. Archived from the original (PDF) on 2009-05-29.
  6. ^ "ANICO General statement of beneficial ownership filing". Securities and Exchange Commission.
  7. ^ "American National Variable Annuity Separate Account, Actuary Consent Filing". Securities and Exchange Commission.
  8. ^ "Four firms guide Brookfield unit's $5.1 bln American National buy". Reuters. August 9, 2021.
  9. ^ "Brookfield Reinsurance Completes $5.1 Billion Acquisition of American National" (Press release). Brookfield Asset Management. 2022-05-25. Retrieved 2022-06-05.
  10. ^ "About".
  11. ^ "American National Insurance".
  12. ^ a b "American National Insurance".
  13. ^ "Core Specialty - Medical Stop-Loss". Core Specialty.
  14. ^ "Affiliated Companies". Archived from the original on April 24, 2008.

29°18′25″N 94°47′24″W / 29.307°N 94.7899°W / 29.307; -94.7899