American National Insurance Company

Last updated
American National Group, Inc.
Company type Private
Industry
Founded1905;119 years ago (1905)
Headquarters One Moody Plaza
Galveston, Texas, U.S.
Key people
Ross Rankin Moody, Chairman of the Board
James Pozzi, President & CEO
Products Insurance, annuities, mutual funds, Financial products
Revenue US$4.391 billion (2021) [1]
US$467.5 million (2020)
Total assets US$29.5 billion (2020)
Total equity US$6.6 billion (2020)
Owner Brookfield Asset Management Reinsurance
Number of employees
4,600 [2]  (2020)
Website americannational.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.

Contents

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 Moody Plaza in Galveston Texas.jpg
Moody Plaza, American National Insurance's Home Office in downtown Galveston, Texas
American National Insurance Company Building American National Insurance Company Building -- Galveston.jpg
American National Insurance Company Building

See also

Related Research Articles

<span class="mw-page-title-main">Frost Bank</span> American Bank

Frost Bank is an American bank based in San Antonio that is chartered in Texas, with 155 branches and 1,700 automated teller machines in the state. It is the primary subsidiary of Cullen/Frost Bankers, Inc., a bank holding company. It is one of the 60 largest banks of the country by total assets.

<span class="mw-page-title-main">Prudential Financial</span> American life insurance company

Prudential Financial, Inc. is an American Fortune Global 500 and Fortune 500 company whose subsidiaries provide insurance, retirement planning, investment management, and other products and services to both retail and institutional customers throughout the United States and in over 40 other countries. In 2019, Prudential was the largest insurance provider in the United States with $815.1 billion in total assets.

<span class="mw-page-title-main">Genworth Financial</span> American insurance company

Genworth Financial, headquartered in Richmond, Virginia, provides life insurance, long-term care insurance, mortgage insurance, and annuities.

Jackson National Life Insurance Company is a U.S. company that provides annuities for retail investors and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. Prior to being spun off in 2021, Jackson was a subsidiary of the British insurer, Prudential plc, which acquired the company for $608 million in 1986. The company is unrelated to the American insurance conglomerate, Prudential Financial.

<span class="mw-page-title-main">Lincoln National Corporation</span> American insurance and investment management company

Lincoln National Corporation is a Fortune 200 American holding company, which operates multiple insurance and investment management businesses through subsidiary companies. Lincoln Financial Group is the marketing name for LNC and its subsidiary companies.

<span class="mw-page-title-main">Cincinnati Financial</span> American insurance company

Cincinnati Financial Corporation offers property and casualty insurance, its main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The company has 1.01% of the domestic property and casualty insurance premiums, which ranks it as the 20th largest insurance company by market share in the U.S.

<span class="mw-page-title-main">Ameriprise Financial</span> Financial services company

Ameriprise Financial, Inc. is a diversified financial services company and bank holding company incorporated in Delaware and headquartered in Minneapolis, Minnesota. It provides financial planning products and services, including wealth management, asset management, insurance, annuities, and estate planning.

Isaac Herbert Kempner was the founder of the Imperial Sugar Corporation and mayor of Galveston, Texas.

Moody National Bank (MNB) is a nationally chartered bank, founded in 1907, that is based in Galveston, Texas.

Protective Life Corporation is a financial service holding company in Birmingham, Alabama. The company's primary subsidiary, Protective Life Insurance Company, was established in 1907 and now markets its products and services in all 50 states. As of December 31, 2022, the corporation had more than 3,700 employees, annual revenues of $6.6 billion and assets of $113.2 billion. In addition to Protective Life Insurance Company, Protective Life Corporation's subsidiaries include West Coast Life Insurance Company, MONY Life Insurance Company, Protective Life And Annuity Insurance Company, Concourse Financial Group, and Protective Property and Casualty Insurance Company.

The Hanover Insurance Group, Inc. is an insurance company based in Worcester, Massachusetts. It was the original name of a property-liability insurance firm established in 1852, and it remained a publicly traded company under that name until the early 1990s, when it changed its name to Allmerica Property & Casualty Companies.

Globe Life (GL) is an American financial services holding company listed on the New York Stock Exchange which operates through its wholly owned subsidiaries providing life insurance, annuity, and supplemental health insurance products. The company is based in McKinney, Texas.

Kemper Corporation is an American insurance provider with corporate headquarters located in Chicago, Illinois. With nearly $13 billion in assets, the Kemper family of companies provides insurance to individuals, families, and businesses.

The Ohio National Life Insurance Company is a mutual insurance company. The Ohio National Life Insurance Company is headquartered in Cincinnati, Ohio, United States. Along with its affiliated companies, the Ohio National group offers life insurance, annuities, disability insurance, group retirement plans, and investment products. It sells products in all fifty states, the District of Columbia, and Puerto Rico.

The Moody Foundation is a charitable foundation incorporated in Texas and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody Jr. and his wife Libbie Rice Shearn Moody "to benefit, in perpetuity, present and future generations of Texans." The Foundation focuses the majority of its funding on programs involving education, social services, children's needs, and community development.

<span class="mw-page-title-main">Holdings of American International Group</span> Subsidiaries of the American International Group

The Holdings of American International Group include the operating entities and subsidiaries of insurance conglomerate American International Group (AIG) that operates in over 130 countries. The company's business consists of four core areas: General Insurance, Life Insurance & Retirement Services, Financial Services and Asset Management.

William Lewis Moody Jr. was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance company, and one of the largest charitable foundations in the United States. Moody was active in the day-to-day operations of his companies until two days before his death.

Mary Elizabeth Moody Northen was an American financier and philanthropist from Galveston, Texas. She was the daughter of financial and insurance tycoon William Lewis Moody, Jr. and aunt of businessman Shearn Moody, Jr.

<span class="mw-page-title-main">F&G</span> American insurance company

F&G Annuities & Life, Inc. is a public company headquartered in Des Moines, Iowa. It primarily provides annuities, life insurance, and pension buyout services. The company was founded in 1959.

<span class="mw-page-title-main">Argo Group</span> Bermuda-based insurance underwriter

Argo Group International Holdings, Ltd, or Argo Group (NYSE: ARGO), is a Bermuda-based international underwriter of specialty insurance products in the property and casualty market.

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. 1 2 "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″N94°47′24″W / 29.307°N 94.7899°W / 29.307; -94.7899