Comparing the current results to its competitors, American National Group Inc reported Revenue decrease in the 1 quarter 2020 year on year by -67.1 %, despite the revenue increase by the most of its competitors of 5.98 %, recorded in the same quarter.
American National Group Inc 's Comment on Competition and Industry Peers
We compete principally on the scope of our distribution systems, the breadth
of our product offerings, reputation, marketing expertise and support, financial
strength and ratings, product features and prices, customer service, claims
handling, and in the case of producers, compensation. The market for insurance,
retirement and investment products continues to be highly fragmented and competitive.
We compete with a large number of domestic and foreign insurance companies,
many of which offer one or more similar products. In addition, for products
that include an asset accumulation component, our competition includes domestic
and foreign securities firms, investment advisors, mutual funds, banks and other
financial institutions.
Several competing insurance carriers are larger than we are, and have brands
that are more commonly known and spend significantly more on advertising than
we do. We remain competitive with these commonly known brands by managing costs,
providing attractive coverage and service, maintaining positive relationships
with our agents, and maintaining our financial strength ratings.
Publicly Traded Peers of American National Group Inc
White Mountains Insurance Group ltd Share Performance
+0.85%
This Quarter
White Mountains Insurance Group ltd
Profile
White Mountains Insurance Group ltd operates as a holding company that provides insurance and reinsurance services. It primarily focuses on acquiring and managing a portfolio of specialty property and casualty insurance companies.
Principal Financial Group Inc. operates by offering a wide range of financial solutions, including retirement planning, life insurance, and asset management services tailored to meet the needs of individuals, businesses, and institutional clients. The company focuses on helping clients achieve their financial goals through innovative products and personalized service. By leveraging its expertise in risk management and investment strategies, Principal Financial Group aims to build long-term relationships and drive sustainable growth.
Old National Bancorp is a financial holding company that primarily operates through its subsidiary, Old National Bank. It offers a range of banking services, including commercial and consumer banking, mortgage lending, wealth management, and insurance products, catering to individual customers, small businesses, and large corporations.
National Western Life Group Inc operates as a diversified insurance holding company. It primarily engages in the provision of life insurance products, annuity products, and investment products. The company primarily sells its products to the upper-middle and upper-income individuals and families residing in all 50 states and the District of Columbia through independent insurance agents and brokers.
National Security Group Inc.'s business model involves providing insurance products and services to individuals and businesses, with a focus on property and casualty insurance.
Sources:
American National Group Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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