The American National Insurance Company was chartered in 1905 and has now evolved into a leader and is ranked among the largest of life insurance companies in the United States.
The company and its subsidiaries provide insurance and service to more than five million policyholders throughout the country, in all the fifty states, the District of Columbia, Puerto Rico and American Samoa. Its subsidiary American National de Mexico, Compania de Seguros, is authorized to sell its products in Mexico as well.
The services of the American National Insurance Company include annuities, health insurance, property and casualty, credit insurance, pension plan services besides life insurance. A subsidiary broker-dealer of the American National Insurance Company, Securities Management and Research, distributes Mutual funds and variables.
History of the Company
This major American Insurance Corporation is based in Galveston, Texas and its headquarters are at Moody Plaza, Galveston, Texas. William L Moody founded American National in 1905. Though it is a publicly traded company, the majority of the stock continues to be controlled by the Moody family through foundations and trusts which the family owned Moody National Bank administers. Some of the family members are also on the Board of Directors of the company.
Corporate Governance
The American National maintains the highest ethical standards in business practices and financial reporting. All the business activities and the personnel adhere to the company’s ethical code, which promotes:
•Honest and ethical conduct between professional as well as personal relationships
•Fair, accurate, full and timely disclosures in public reports and documents
•Compliance with governmental rules, laws and regulations
•Prompt reporting of any violations of the code
•Accountability for adherence to the code.
Rating of the American National Insurance Company
The company is subject to insurance regulation and examination by all fifty states and its records are audited by major financial rating agencies. The A.M.Best Company which is an independent analyst of the insurance companies from 1899 has assigned a rating of A+ to American National Insurance Company.
These ratings are assigned after an extensive analysis using a series of profitability, leverage, liquidity tests and reflect the company’s capitalization, operating performances and liquidity. They measure the performance in important areas like competency in underwriting, control of expenses, adequacy of reserves, soundness of investments and capital sufficiency.
The Subsidiaries are:
•American National Property and Casualty Company
•Farm Families Companies
•Farm Families Casualty Insurance Company
•Standard Life and Accident Insurance Company
•Garden State Life Insurance Company
•American National de Mexico, Compania de Seguros de Vida
•American National Life Insurance Company of Texas
•Securities Management and Research, Inc.