Table of Contents
About American National Insurance Company
Company Highlights
- Founded in 1905 in Galveston, Texas
- Operations in all 50 states and Puerto Rico
- Privately held (acquired by Brookfield Asset Management Reinsurance in May 2022)
- President & CEO: Tim Walsh
- Approximately 2,700 employees (2025)
- Headquarters at One Moody Plaza, Galveston, Texas
American National Insurance Company (ANICO) offers a comprehensive suite of many of the different types of life insurance policies and other financial products available in the marketplace. In this American National review, we will take a close look at the company’s products, ratings, and strategic changes to help you decide if American National is the right fit for you, based on your own needs, goals and objectives.
American National was founded in 1905 and is based out of Galveston, Texas. Originally a stock insurance company trading on the NASDAQ under the symbol ANAT, the company became privately held in 2022 after being acquired by Brookfield Asset Management Reinsurance.
2025 Strategic Changes & Updates
Important Notice: Exit from New Life Insurance Sales
As of May 31, 2025, American National will no longer accept new life insurance applications. All life policies must be placed by July 31, 2025. This strategic shift allows the company to focus on annuities, pension risk transfer, and property & casualty insurance, where they see greater long-term growth potential.
If you are a current American National life insurance policyholder, your policy will continue to be fully serviced without interruption.
Recent Strategic Developments
- Focus Shift: American National is strategically repositioning to focus on annuities, pension risk transfer solutions, and property & casualty insurance.
- Digital Innovation: In 2025, ANICO launched a direct-to-consumer digital platform for its Palladium® Multi-Year Guarantee (MYG) Annuity, allowing clients to purchase fixed annuities online in under 10 minutes.
- Property & Casualty Adjustments: In 2023, ANICO exited the homeowners insurance market in nine states due to profitability challenges (California, Louisiana, Arkansas, Colorado, Minnesota, Oklahoma, South Carolina, South Dakota, and Washington).
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American National Ratings & Financial Strength
Despite strategic changes, American National maintains strong financial ratings, indicating its ability to meet ongoing obligations to policyholders.
| Rating Agency | Rating | Category |
|---|---|---|
| A.M. Best | A (Excellent) | 3rd highest of 16 |
| Standard & Poor’s | A | 6th highest of 22 |
| Fitch | Not Rated | N/A |
| Moody’s | Not Rated | N/A |
Products & Services Overview
While American National is shifting away from new life insurance sales, the company continues to offer a variety of insurance and financial solutions, with particular focus on annuities, pension risk transfer, and property & casualty products.
Annuities & Retirement Solutions
2025 Innovation: Digital Annuity Platform
American National launched a direct-to-consumer digital platform for its Palladium® Multi-Year Guarantee (MYG) Annuity, allowing clients to purchase fixed annuities online in under 10 minutes, with guaranteed growth periods of 5, 7, or 10 years and a minimum investment of $5,000.
The platform provides 24-hour online account access and is designed for self-directed planners seeking guaranteed growth and market protection.
Featured Annuity Products:
- Palladium® Multi-Year Guarantee Annuity (MYG): Fixed deferred annuity with guaranteed interest rates for the entire initial guarantee period (5, 7, or 10 years).
- Rate Certainty Annuity (RCA): New in 2024, offers 7, 10, and 20-year terms, combining guaranteed rates with the potential for market upside via simple trigger indexing strategies.
- Indexed Deferred Annuities: Growth potential linked to market indexes with protection against market downturns.
- Single Premium Immediate Annuities: Convert a lump sum into guaranteed income payments for a specified period or lifetime.
Life Insurance Products (Legacy Portfolio)
Important Notice
American National will stop accepting new life insurance applications as of May 31, 2025. All policies must be placed by July 31, 2025. If you’re interested in life insurance through American National, you must act quickly before this deadline.
Existing policies will continue to be serviced without interruption.
While American National is discontinuing new life insurance sales, their legacy portfolio includes:
Term Life Insurance
ANICO Signature Term™ Life Insurance provides the option for no medical exam life insurance for face amounts up to $250,000 for annual renewable term limits as well as 10, 15, 20, and 30-year terms.
Signature Term is convertible term life insurance. The policy can be converted from term to permanent coverage. The conversion option must be exercised by the end of the 5th policy anniversary or age 65.
Permanent Life Insurance
- ANICO Signature Whole Life: A participating insurance policy that may potentially pay out dividends on top of the guaranteed cash value growth.
- Signature Guaranteed Universal Life (GUL): Provides permanent coverage at competitive rates with a focus on death benefit protection rather than cash value accumulation.
- Signature Indexed Universal Life: Offers lifetime coverage with potential for higher cash value growth linked to the performance of the S&P 500 Index.
Need life insurance coverage before ANICO’s deadline?
Get personalized quotes before May 31, 2025.
Property & Casualty Insurance
American National continues to offer a variety of property and casualty insurance products, though availability varies by state:
- Auto Insurance: Coverage for personal vehicles with options for multiple discounts.
- Collector Car: Specialized coverage for classic and collectible vehicles.
- Recreational Vehicles: Coverage for RVs, motorcycles, boats, and other recreational vehicles.
- Business Insurance: Protection for small to mid-sized businesses.
- Agribusiness Insurance: Specialized coverage for farms and agricultural businesses.
- Umbrella Insurance: Additional liability protection beyond standard policy limits.
Note on Homeowners Insurance:
In 2023, American National exited the homeowners insurance market in nine states: California, Louisiana, Arkansas, Colorado, Minnesota, Oklahoma, South Carolina, South Dakota, and Washington.
Benefits of American National Products
Benefits of Annuities
- Guaranteed Growth: Multi-year guarantee annuities provide predictable, guaranteed rates of return for the entire initial guarantee period.
- Tax Advantages: Tax-deferred growth on earnings until withdrawal.
- Market Protection: Principal protection against market downturns while still offering growth potential through indexed options.
- Income Security: Options for guaranteed income streams for retirement.
- Estate Planning: Opportunity to transfer wealth to beneficiaries outside of probate.
Benefits of Permanent Life Insurance (For Existing Policyholders)
- Tax-Free Life Insurance Policy Loans: Life insurance loans allow you to access your cash value tax-free, using your policy as collateral.
- Tax-Deferred Cash Value Growth: IRC 7702 governs cash value life insurance, allowing tax-deferred growth of the cash value component.
- Tax-Free Death Benefit: The death benefit from life insurance is not taxable in most situations.
Contact Information
| Department | Contact Information |
|---|---|
| Main Customer Service | 1-800-899-6519 ServiceCenter@AmericanNational.com |
| Claims | 1-800-333-2860 Claims@AmericanNational.com |
| Roadside Assistance | 1-866-327-9869 |
| Corporate Headquarters | 1-409-763-4661 One Moody Plaza Galveston, TX 77550 |
| Website | www.americannational.com |
American National Insurance Review Conclusion
Key Takeaways
- American National is phasing out new life insurance sales as of May 31, 2025, to focus on annuities, pension risk transfer, and P&C insurance.
- Existing life insurance policyholders will continue to be fully serviced without interruption.
- The company is investing in digital innovation, particularly in annuities, with their new online platform.
- American National maintains strong financial ratings (A from A.M. Best and S&P).
American National Insurance Company has been a stalwart in the insurance industry since 1905, maintaining strong financial ratings and adapting to changing market conditions. Their exit from the life insurance market represents a significant strategic shift, but the company continues to offer valuable solutions in annuities and property & casualty insurance.
For those interested in American National’s life insurance products, time is of the essence with the May 31, 2025 deadline for new applications. For existing policyholders, the company remains committed to honoring all policy obligations and providing ongoing service.
For retirement planning, American National’s innovative annuity solutions, particularly the new digital platform for Palladium® MYG Annuities, offer accessible options for guaranteed growth and income protection.
The reality is there is no one-size-fits-all company. The right company and policy design will depend on many factors, including your specific needs, goals, and objectives.
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2 comments
Evelyn M Garrity
Do you have any agents in Arizona that come to a persons home and go over a annuity options?
Insurance&Estates
Hi Evelyn, see my previous response.
Best, Steve Gibbs for I&E