American National Insurance Company (ANICO) is a major American

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and ...

based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states and

Puerto Rico Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and unincorporated ...

Company description

American National was founded in 1905 by Galveston businessman

William Lewis Moody Jr. William Lewis Moody Jr. (January 25, 1865 – July 21, 1954)Who Was Who In America, Vol. 3, 1951-1960. Library of Congress number 43-3789. was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance ...

Today the company offers a wide array of insurance products and services including life insurance,

annuities In investment, an annuity is a series of payments made at equal intervals.Kellison, Stephen G. (1970). ''The Theory of Interest''. Homewood, Illinois: Richard D. Irwin, Inc. p. 45 Examples of annuities are regular deposits to a savings account, m ...

, health insurance, property and casualty insurance,

credit insurance Credit insurance refers to several kinds of insurance relating to financial credit: * Trade credit insurance, purchased by businesses to insure payment of credit ''extended by'' the business *Payment protection insurance, purchased by consumers to ...

, and pension plan services. Through its subsidiary, ANREM, the company founded and developed the large-scale housing development, South Shore Harbour, in

League City, Texas League City is a city in the U.S. state of Texas, in Galveston County, within the metropolitan area. As of the 2020 census, the city had a population of 112,129. The city of League City has a small portion north of Clear Creek within Harris C ...

. Although a

publicly traded company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (list ...

, the majority of the stock had been controlled by the Moody family through the

Moody Foundation The Moody Foundation is a charitable foundation incorporated in Texas and based in the island city of Galveston. It was chartered in 1942 by William Lewis Moody Jr. and his wife Libbie Rice Shearn Moody ''"to benefit, in perpetuity, present and ...

and Libby Shearn Moody Trust, which are administered by the trust department of the family owned Moody National Bank. In August 2021,

Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contro ...

announced that it had agreed to acquire ANICO for $5.1 billion. The acquisition was completed in May 2022.

Subsidiaries

American National Insurance Company Building -- Galveston

* American National Life Insurance Company of Texas * American National Life Insurance Company of New York * American National Property And Casualty Company * Farm Family Casualty Insurance Company * United Farm Family Insurance Company * Standard Life and Accident Insurance Company * Garden State Life Insurance Company

Company description

Subsidiaries

See also