American National Group Inc Stock Price, News & Analysis

American National Insurance Company urges policyholders to prepare for Hurricane Ian, emphasizing the importance of following local authorities' orders. They provide resources for claim reporting via mobile app, online, phone, or email. The company advises maintaining accessible copies of insurance policies, saving contact information for claims, and creating a home inventory. American National, established in 1905, offers a diverse range of insurance products across the U.S., excluding New York.

American National has announced its participation in Plug and Play's Agtech program in Fargo, North Dakota, expanding from its current involvement in the Insurtech program in Silicon Valley. This initiative aims to enhance innovation in the agricultural sector, focusing on areas such as precision farming and sustainability. Senior VP Matt Ostiguy emphasized the importance of this collaboration for better serving clients and supporting startups in agriculture. American National is distinguished as the first insurance carrier to join this program.

American National Group, Inc. (NASDAQ: ANAT) reported a net income of $108.8 million or $4.05 per diluted share for Q1 2022, down from $170.2 million or $6.33 in Q1 2021. This decline is attributed to a significant $83.3 million drop in net gains from equity securities, though partially offset by an increase of $20.4 million in realized investment earnings. Notably, net losses on equity securities reached $7.5 million, contrasting with a gain of $75.8 million last year. A merger with Brookfield Asset Management is still pending regulatory approval.

AM Best has retained the under review with developing implications status for the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a+' (Excellent) for American National Insurance Company (ANICO) and its subsidiaries. The review status is due to ANICO's ongoing merger with Brookfield Asset Management Reinsurance Partners Ltd. in a $5.1 billion all-cash transaction, expected to close in Q2 2022. This status will remain until AM Best evaluates ANICO's post-acquisition fundamentals.

American National expresses condolences for storm victims in Texas, Oklahoma, Louisiana, and Mississippi. The company provides resources for policyholders to report claims efficiently. Available methods include the AN Mobile app, online claims via AmericanNational.com, a 24-hour hotline at 1.800.333.2860, and email claims at Claims@AmericanNational.com. Key tips include documenting damage, discussing temporary housing coverage, and working closely with adjusters. Founded in 1905, American National offers diverse insurance products across all states except New York.

American National Insurance Company has been recognized by Forbes as one of “America’s Best Insurance Companies” for 2022. The Galveston-based firm was among only 90 insurers honored nationwide. This accolade stems from a survey of over 16,000 customers conducted in partnership with Statista, reflecting the company's commitment to service and integrity. American National previously appeared on Forbes' “Most Trustworthy Financial Companies” lists in 2009 and 2017. With over 136 billion in life insurance in force, the company has a legacy of strong management since its founding in 1905.

American National Group, Inc. (NASDAQ: ANAT) declared a quarterly dividend of 82 cents per share on February 24, 2022. This dividend is payable on March 18, 2022, to shareholders of record as of March 4, 2022, with an anticipated ex-dividend date of March 3, 2022. The company boasts over 100 consecutive years of dividend payments. As of December 31, 2021, American National reported $31.3 billion in assets, $24.3 billion in liabilities, and $7.0 billion in stockholders' equity, operating across all 50 states.

American National Group (NASDAQ: ANAT) reported a Q4 2021 net income of $250.1 million ($9.30/share), down from $306.4 million ($11.40/share) year-over-year. This decline was attributed to a $67.3 million drop in net gains on equity securities and a $30.2 million decrease in after-tax adjusted net operating income. Despite this, realized investment earnings increased by $44.2 million. For 2021, net income rose to $699.3 million ($26.01/share) from $467.5 million ($17.39/share) in 2020. The merger with Brookfield is expected to finalize in H1 2022, pending regulatory approval.

American National has introduced a new Internet of Things (IoT) property loss prevention service, Ting, aimed at monitoring electrical fire hazards. This service will be part of the Special Farm Package 10 upon renewal in 2022. Ting utilizes a wall-plugged sensor to provide real-time monitoring and alerts for potential electrical dangers. Clients will also receive a service credit of up to $1,000 for repairs if issues are detected. This innovative service underscores American National's commitment to enhancing client security in the insurance sector.