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American National is an insurance company that sells a variety of financial services and products, including annuities. These products can provide long-term financial security for clients.
American National Insurance Company was established in Galveston, Texas in 1905. The organization currently operates in all 50 states, and its available products vary by location.
About American National
The American National name refers to a group of companies and subsidiaries that underwrite, issue and administer insurance policies and annuities. American National Group, Inc. is the parent company.
American National is a publicly traded organization with 4,600 full-time employees. According to Fortune, American National has $29.5 billion in assets as of March 31, 2021.
American National commits to shared values with clients: financial strength, integrity, respect, service and teamwork. The company and its subsidiaries specialize in insurance products that offer stability, longevity and security.
- Life insurance
- Homeowners insurance
- Renters insurance
- Business insurance
- Auto insurance
- Classic car insurance
- Health insurance
- Farm and ranch insurance
- Recreational insurance
- Specialty products
Credit ratings are independent opinions provided by agencies to convey the financial strength of insurance companies.
This scoring helps measure American National against other annuity providers. AM Best and Standard & Poor’s provided recent credit ratings for American National’s units, ranking the insurance carrier’s claims-paying abilities (CPAs).
|AM Best||Standard & Poor's|
|A (excellent) financial strength rating (as of November 19, 2020)||A (stable) financial strength rating (as of August 31, 2020)|
The outlook of these ratings is stable. AM Best reports that the American National Group’s investment portfolio is performing well, with its balance sheet strength boasting the strongest ranking. American National also cites the strongest level of risk-adjusted capitalization.
“We strive to achieve the highest standard of ethics, accountability and compliance,” states American National’s website. “We’re dedicated to strong financial stability and growth to operate responsibly and fairly for everyone — from you to our employees to our business partners.”
Annuity Products Provided by American National
American National and its affiliates currently issue three categories of annuity products: single premium immediate, indexed deferred and fixed deferred annuities.
Single Premium Immediate Annuities
To purchase single premium immediate annuities, or SPIAs, clients pay a sum of money, or a single premium up front. SPIA owners begin receiving payments within 12 months of the annuity’s purchase.
Indexed Deferred Annuities
Indexed annuities are tied to a stock index, and they can accumulate interest with strong market performance. With deferred annuities, purchasers begin receiving their stream of payments at a point in the future. This means that the annuity has time — called an accumulation phase — to collect earnings.
Fixed Deferred Annuities
American National offers fixed annuities with a guaranteed interest rate for a specific period of time. These products can provide predictable income with a fixed rate of return, regardless of market uncertainty.
American National provides an array of online resources and personal guidance for clients. Insurance or annuity owners can access an online portal to request tax forms, pay premiums and view billing information. Annuity policy forms, including an application for an additional beneficiary, direct deposit and claim forms, are also available online.
While resources can be found at clients’ fingertips, American National values direct, individualized service.
6 Cited Research Articles
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- AM Best. (2020, November 19). American National Property and Casualty Company. Retrieved from https://ratings.ambest.com/CompanyProfile.aspx?BL=0&ambnum=3533&AltNum=17713533&AltSrc=3
- American National. (n.d.). Annuities. Retrieved from https://www.americannational.com/wps/portal/an/menu/insurance/annuities
- American National. (n.d.). Company Ratings. Retrieved from https://www.americannational.com/wps/portal/an/menu/about/about-us/company-ratings
- American National. (n.d.). What makes American National so different? Retrieved from https://www.americannational.com/wps/portal/an/menu/about/about-us
- S&P Global Rankings. (2020, August 31). American National Insurance Co. Retrieved from https://www.americannational.com/wps/wcm/connect/americannational/c94234f5-625a-4b7b-bd70-d0df02b3eb61/American+National+-+S%26P+2020+Full+Analysis+Report.pdf?MOD=AJPERES&CVID=nq7l9Sa
- Yahoo Finance. (n.d.). American National Group, Inc. (ANAT). Retrieved from https://in.finance.yahoo.com/quote/ANAT/balance-sheet/