About American National Insurance
Part of the parent company American National Group, Inc., American National Insurance is one of several companies and subsidiaries that underwrite, issue and administer insurance policies and annuities.
American National Insurance Company was founded in Galveston, Texas in 1905. It is a publicly traded company that currently has 4,600 full-time employees. American National operates in all 50 states, with its available products varying by location.
Forbes named American National one of “America’s Best Insurance Companies” in 2022 due to the company’s long history of both exceptional performance and outstanding customer service. Forbes also recognized American National as one of its “Most Trustworthy Financial Companies” in 2009 and 2017.
Exceptional customer service has long been one of American National’s most important values — one that the company is committed to delivering over the long term. Along with its subsidiaries, American National offers insurance products that help every customer build and secure a stronger future.
In May 2022, Global asset management company Brookfield Reinsurance acquired American National for approximately $5.1 billion. According to a Brookfield press release, Brookfield Reinsurance plans to build on American National’s strong track record of stable growth and disciplined underwriting. American National will also maintain its headquarters in Galveston, TX, its presence in League City, TX, and operating hubs in Springfield, MO and Albany, NY.
Credit Ratings
Credit ratings offer consumers insight into the financial stability of an annuity provider. These scores are issued by independent credit rating agencies.
If you’re interested in purchasing an annuity, take the time to research several insurance companies. Look for reliability and a long-term record of fiscal stability.
Credit ratings are provided by agencies such as Moody’s S&P, Moody’s, AM Best and Fitch. These agencies evaluate insurers based on their financial capacity and claims-paying abilities (CPAs). To minimize the risk of an insurance company defaulting on an annuity contract, it’s important to choose a company with a high rating.
American National Credit Ratings
| Credit Agency | Rating |
|---|---|
| A.M. Best | A |
| Fitch | A |
| Standard & Poor’s | A |
Annuity Products Provided by American National
As of December 2022, American National and its affiliates offer three categories of annuity products: single premium immediate, indexed deferred and fixed deferred annuities.
Single Premium Immediate Annuities
A single premium immediate annuity is a simple and consumer-friendly option with no accumulation period. In addition, they generate a predictable income from a fixed sum since they deliver a guaranteed income within one month after purchase.
Immediate annuities spread your income over several years, making your tax liability more manageable and allowing you to keep more of what you make. You can structure your payments by choosing the amount and duration of payments. And if you need to access your funds unexpectedly, there are options that may fit your needs.
Indexed Deferred Annuities
Indexed annuities protect your principal while still allowing your money to accumulate interest through strong market performance. Indexed deferred annuity purchasers begin receiving payments at a point in the future while the annuity has time to collect earnings in the present.
These earnings are tax-deferred growth, meaning you only pay tax when you receive the payout.
Indexed deferred annuities from American National include early access options. These let you withdraw portions of your funds or change them to payments that generate income (subject to taxes and surrender charges) in the case of an unexpected need. The lifetime income rider is also an optional add-on that provides an income stream guaranteed for your lifetime, even if the value of your annuity drops to zero.
Fixed Deferred Annuities
American National offers fixed annuities that offset market uncertainty with predictable, guaranteed interest rates over a fixed period.
Their fixed rate of return and tax-deferred growth give investors peace of mind knowing their money is earning predictable income and is sheltered from market uncertainty.
Fixed deferred annuities from American National also include early access options such as withdrawing part of your funds or changing to payments that generate income in the case of unforeseen need. The optional lifetime income rider is also available for this type of annuity.
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Who Owns American National Insurance Company?
Brookfield Asset Management Reinsurance Partners acquired American National in May 2022.
In addition to capital solutions for both insurance and reinsurance companies, Brookfield offers pension risk transfer products for the Canadian pension plan market. Class A exchangeable shares issued by Brookfield Reinsurance can be exchanged on a one-for-one basis with class A limited voting shares issued by Brookfield Asset Management Inc.
American National’s long history of steady growth and disciplined underwriting will continue under Brookfield Reinsurance. Brookfield Reinsurance will leverage its best-in-class expertise and resources to further develop American National’s strong capital position and support its continuing policyholder and customer service commitments.
American National will continue operating under its own name.
Client Resources
American National customers can log in to their accounts online with their email address and password. Customers can file a claim, pay a bill and view account settings through this online access.
American National annuity customers can also contact the company at the following numbers.
- Annuity Bill Pay & Policy Service
- 1-800-252-9546
- Claim Service
- 1-800-615-7372
- Variable Annuity Contracts
- 1-800-306-2959
American National Contact Information for Annuities
