American National Insurance (ANICO) Company Review

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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. Its 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.

Key Takeaways

  • American National provides a broad line of insurance and financial products through an agent network across 50 states.
  • The company’s offerings include life insurance, annuities, health insurance, credit insurance, pension products, and commercial insurance.
  • American National's debt ratio for 2019 was .79, and for 2018 it was .80, which means that 79% of the company's assets were funded by debt in 2019, down from 80% in 2018.
  • While American National is not a Better Business Bureau (BBB)-accredited company, it does have an “A+” rating with the BBB.

Trade Information

American National Family of Companies is a publicly traded company under the NASDAQ symbol ANAT. It 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

The ANPAC subsidiary 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.

Financial Stability

One 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 that more debt is used to finance assets. American National's debt ratio for 2019 was .79, and for 2018 it was .80. This means that 79% of their assets were funded by debt in 2019, down from 80% in 2018.

This progress indicates that 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 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, it was recognized by Forbes on its “100 Most Trustworthy Companies” list. In 2017, the company was rated "A" (excellent) by the credit rating agency A.M. Best for the seventy-fifth year in a row. In 2019, Forbes again placed American National on it's "Best Mid-Size Employers" list.

Insurance and Financial Products

Through the American National family of companies, insurance policyholders 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

Policy Services

Policyholders have access to American National’s client services, which give them 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 the 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 this company.

Contact Information

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 centers' telephone numbers. The company headquarters' telephone number in Galveston, Texas, is (409) 763-4661.