American National Group Inc. provides a range of insurance and retirement services through its subsidiaries, operating primarily in the U.S., the District of Columbia, and Puerto Rico. The company is structured into three main segments: Annuities, Property and Casualty (P&C), and Life Insurance. In the Annuities segment, American National offers products such as Fixed Index Annuities, Fixed Rate Annuities, Pension Risk Transfer, and Single Premium Immediate Annuities. The P&C segment includes coverage for personal and commercial properties and casualty lines, while the Life Insurance segment offers products like Whole Life, Universal Life, and Variable Universal Life insurance.
American National generates revenue by selling these insurance and annuity products, with the Annuities segment bringing in $6.8 billion, the P&C segment $2.1 billion, and the Life Insurance segment $1.0 billion in 2024. The company's primary customers include individuals and institutions seeking insurance coverage and retirement solutions. Its operational structure comprises divisions focused on these specific product lines, with investment strategies aimed at matching liabilities with high-quality investments, including mortgage loans.
Key factors impacting American National's business performance include competition from other insurance providers, the need for product differentiation, and maintaining strong financial strength and credit ratings, which are essential for customer trust and funding access. The company operates in a competitive market environment, where pricing pressures and the ability to innovate products are critical to sustaining its market position.