American National Insurance Company has over 110 years of experience. We have
maintained our corporate headquarters in Galveston, Texas since our founding
in 1905. Our core businesses are life insurance, annuities and property and
casualty insurance. We also offer limited health insurance. We provide personalized
service to approximately six million policyholders throughout the United States,
the District of Columbia, and Puerto Rico.
Our vision is to be a leading provider of financial products and services for
current and future generations. For more than a century, we have maintained
a conservative business approach and corporate culture. We have an unwavering
commitment to serve our policyholders, agents, and shareholders by providing
excellent customer service and competitively priced and diversified products.
We are committed to profitable growth, which enables us to remain financially
strong. Acquisitions that are strategic and offer synergies may be considered,
but they are not our primary source of growth. We invest regularly in our distribution
channels and markets to fuel internal growth.
We are committed to excellence and maintaining high ethical standards in all
our business dealings. Disciplined adherence to our values has allowed us to
deliver consistently high levels of customer service through talented people,
who are at the heart of our business.
Our family of companies includes six life insurance companies, eight property
and casualty insurance companies, and numerous non-insurance subsidiaries.
Medicare Supplement. Medicare Supplement insurance is a type of private health
insurance designed to supplement or pay the costs of certain medical services
not covered by Medicare.
Supplemental Insurance. Supplemental insurance is designed to provide supplemental
coverage for specific events or illnesses such as cancer and accidental injury
or death.
We establish premium rates for life and health insurance products using assumptions
as to future mortality, morbidity, persistency, and expenses, all of which are
estimates generally based on our experience, industry data, projected investment
earnings, competition, regulations and legislation. Premium rates for property
and casualty insurance are influenced by many factors, including the estimated
frequency and severity of claims, expenses, state regulation and legislation,
and general business and economic conditions, including market interest rates
and inflation. Profitability is affected to the extent actual experience deviates
from our pricing assumptions.
Payments for certain annuity and life products are not recognized as revenues,
but are deposits added to policyholder account balances. Revenues from these
products are charges to the account balances for the cost of insurance risk
and administrative fees and, in some cases surrender fees. Profits are earned
to the extent these revenues exceed actual costs. Profits are also earned from
investment income on assets invested from the deposits in excess of the amounts
credited to policyholders.
Premiums for accident and health policies must take into account the rising
costs of medical care. The annual rate of medical cost inflation has historically
been higher than the general rate of inflation, requiring frequent rate increases,
most of which are subject to approval by state regulatory agencies.
Credit Life and Health rates are set by each state. These rates are the maximum
amounts that may be charged. We may charge a lower rate to reflect a variety
of factors including better than expected experience, compensation adjustments,
and competitive forces. In the event that an account experiences poor experience,
we may request a rate increase from the applicable state.
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