American National Insurance (ANICO) Company Review
American National Insurance Company (American National) got its start back in 1905 when the company was founded by William Lewis Moody, Jr. Headquartered in Galveston, TX, Mr. Moody began the company with only 10 employees. In 1973, American National added the property and casualty lines to its product offerings.
American National provides a broad line of insurance and financial products through an agent network across 50 states. Their offerings include life insurance, annuities, health insurance, credit insurance, pension products, agribusiness, property, casualty insurance and certain lines of commercial insurance. The company employs over 3,000 people throughout the United States. In 2019, Amerian National celebrated its 114 year anniversary.
American National Family of Companies is a publicly-traded company under the NASDAQ symbol ANAT. American National is also an S&P 500 company. In 2019, the company's total assets reached $28.5 billion with $118 billion in life insurance in force (active, paid policies). American National is the parent company of a large network of companies including:
- American National Property and Casualty Company (ANPAC)
- American National Life Insurance Company of New York
- Farm Family Companies
- Standard Life and Accident Insurance Company
- Garden State Life Insurance Company
- American National Life Insurance Company of Texas
ANPAC, a subsidiary company, has home offices in Springfield, Missouri. Other operations include offices in Glenmont, New York and League City, Texas.
Community outreach is an important part of American National's vision. Its philanthropic activities include volunteering and fundraising for many organizations including The United Way of the Ozarks, Salvation Army, Boys and Girls Clubs, Children of the Ozarks and many more.
A good indication of a company’s ability to meet all financial obligations and its continued growth, success and return on investment is its debt ratio, a measure of its financial stability.
To find this ratio, a company's balance sheet is used. Total liabilities are divided by total assets, resulting in a ratio. A number higher than 1 indicates more debt is used to finance assets. American National's debt ratio for 2019 is .79, and for 2018 was .80. This means that 79% of their assets are funded by debt, down from 80% in 2018.
This indicates the company is taking less risk in repaying debts, has enough assets to cover its debts if needed, and might be working to decrease its liabilities. The company has also weathered numerous recessions over a 114-year history, so it appears to be effectively maintaining financial stability while achieving growth.
Recognition and Awards
While financial strength is an important aspect of how a company performs, customer service is also a vital to a company's success. While American National is not a Better Business Bureau (BBB) accredited company, it does have an “A+” rating with the BBB.
ANPAC received the Missouri Quality Award (MQA) based on organizational performance management and customer service excellence in 2003. In 2009, American National was recognized by Forbes Magazine on its “100 Most Trustworthy Companies” list. In 2017, the company was rate "A" (excellent) by the credit rating agency A.M. Best for the seventy-fifth year in a row. In 2019, Forbes again awarded American National by placing it on it's "Best Mid-size Employers" list.
Insurance and Financial Products
Through the American National family of companies, insurance consumers in 50 states can purchase these types of insurance policies:
- Auto Insurance
- Homeowners Insurance
- Classic Car Insurance
- Motorcycle Insurance
- RV Insurance
- Boat Insurance
- Commercial Insurance
- Agribusiness Coverage
- Umbrella Insurance
- Life Insurance
Policyholders have access to register for American National’s client services. Client services give policyholders the ability to print insurance ID cards, make a payment or report a claim online. In addition, from the company’s website, you can find a collision repair center in your area or access their document library which contains safety and loss prevention information.
American National offers a wide range of insurance products as well as having strong financial strength and customer service ratings. The company has some unique product offerings and discounts including classic car insurance and a combined deductible for home and auto if you carry both policies through American National Insurance.
To learn more about American National’s family of insurance companies and its insurance and financial products, you can visit the American National Family of Companies website. You may visit the “contact us” page to locate the different customer support center telephone numbers. The company headquarters telephone number in Galveston, Texas is (409) 763-4661.