American National Insurance 2024 Review

American National Insurance is a multiline provider with a history spanning over 100 years. It launched a rebranding campaign in 2023 following an acquisition by Brookfield Reinsurance. 

American National Insurance, founded in 1905, has established a notable presence in the insurance industry. Headquartered in Galveston, Texas, it’s grown into a multibillion-dollar enterprise operating across all 50 U.S. states. 

The company was acquired by Brookfield Reinsurance in 2022 and launched a rebranding campaign in July 2023. Read on to learn more about American National’s reputation, services, and products.


American National Insurance provides a broad spectrum of insurance products, catering to a diverse clientele. The company’s offerings span a range of annuities, life insurance, property and casualty, and pension risk transfer products. 


American National offers annuities as a means of financial planning and retirement income.

Indexed Annuities: Linked to market indexes, these annuities offer the potential for higher returns while providing some protection against market downturns.

— Market-Linked Growth: Returns based on a stock market index.

— Protection: Includes some protection against market declines.

— Early Access Options: Allows for partial withdrawals or conversion into income payments. 

— Optional Lifetime Income Rider: Ensures a consistent income stream for the annuitant’s lifetime, a benefit that remains in place even if the annuity’s value drops to zero.

Fixed Annuities: These provide a guaranteed return, offering a stable income stream for retirement.

— Guaranteed Rate of Return: Fixed interest rate over the annuity’s term.

— Tax-Deferred Growth: Interest grows tax-deferred until withdrawal.

— Payment Options: Lump sum or periodic payments.

Life Insurance

American National Insurance provides several types of life insurance policies, catering to a variety of requirements and financial objectives:

Universal Life Insurance: Combining flexible premiums with an adjustable death benefit, universal life insurance is a versatile option. It also accumulates cash value, which can be used to adjust premium payments or increase the policy’s value.

— Flexibility: Adjustable premiums and death benefits.

— Interest Rates: Cash value earns interest at a rate set by American National.

— Long-Term Coverage: Provides lifelong protection.

Indexed Universal Life Insurance: This policy type is linked to a market index, offering the potential for higher cash value growth based on market performance, and it includes safeguards against market downturns. Policies are never credited with a negative interest rate.

— Cash Value Growth: Linked to the performance of a stock market index, for example, the S&P 500.

— Flexible Premiums: Allows adjustment of premium payments.

— Death Benefit Options: Choice between level or increasing death benefit.

— Loan access: Policyholders may be able to borrow against a part of their policy.

Guaranteed Universal Life Insurance: For those seeking the permanence of whole life with the flexibility of universal life, this policy offers guaranteed coverage up to a certain age without the same focus on cash value growth.

— Guaranteed Coverage: Ensures coverage to a specific age (e.g., 90 or 100).

— Fixed Premiums: Not as flexible as other universal life products.

— Focus: More on lifelong coverage than cash value accumulation.

Guaranteed Cash-Out Rider: Presents an opportunity to access funds if you find yourself no longer requiring life insurance.

— Accelerated death benefit may be available.

Property and Casualty Insurance

American National’s property and casualty insurance encompasses a variety of coverage options:

Farm and Ranch Insurance: Specialized coverage for agricultural properties, covering buildings, machinery, and livestock.

— Property Coverage: Buildings, equipment, and livestock.

— Liability Coverage: For accidents or injuries occurring on the farm.

Business Insurance: Tailored for commercial entities, covering property damage, liability, and other business-related risks.

— Liability Coverage: Protects against legal claims.

— Property Insurance: Covers business property and equipment.

— Specialized Policies: Tailored for specific industries or risks.

Auto Insurance: Covering standard risks like collision, comprehensive, and liability, American National’s auto insurance policies can be enhanced with additional coverages like uninsured motorist protection.

— Coverage Types: Includes liability, collision, comprehensive, medical payments, and uninsured/underinsured motorist coverage.

— Additional Features: Options like roadside assistance and rental reimbursement.

Homeowners Insurance: Protecting against damage to the home and personal property, this policy typically covers risks like fire, theft, and certain natural disasters. Liability coverage is also included for protection against certain lawsuits.

— Standard Coverage: Dwelling, personal property, liability, and additional living expenses.

— Optional Endorsements: Coverage for high-value items, flood, or earthquake insurance.

Renters Insurance: Designed for tenants, this insurance covers personal property within a rental unit and includes liability coverage.

— Personal Property: Covers belongings against perils like theft and fire.

— Liability Protection: Covers legal expenses if someone is injured in the rental unit.

— Additional Living Expenses: Covers costs if the rental unit is uninhabitable due to a covered peril.

Pension Risk Transfer

PRT involves transferring pension plan liabilities from employers to an insurer. This process provides solutions for managing defined benefit pension plans, ensuring financial security and stability for plan sponsors. American National’s PRT services include group annuity solutions customized to address pension-related balance sheet risks.

— Retiree Lift-Outs: Retiree group obligations are transferred to the insurer, while active employees and terminated vested employees remain in the original plan.

— Plan Terminations: All the members of the pension plan are transferred to the insurer.

— Buy-In Contracts: The plan purchases an annuity as an asset. This is designed to tackle challenges like fund management complexity and the impact of market volatility.

Each of these products is designed to meet specific financial needs and objectives, ranging from short-term protection to long-term financial planning and retirement security. Customers should consider their personal financial situation, goals, and risk tolerance when selecting the appropriate policy or product.

Awards and Ratings

American National Insurance has been recognized for its excellence in the industry, earning a spot on Forbes’ list of America’s Best Insurance Companies for 2024. This distinction, the result of an independent survey of over 15,000 participants, was based on American National’s customer satisfaction, loyalty, and performance across dimensions including advice, customer service, price-to-performance ratio, transparency, digital services, and damage service.

Financially, the company has A ratings from A.M. Best, Fitch, and S&P, indicating strong financial stability. These ratings are based on reviews of American National’s ability to fulfill its insurance obligations. It has a long track record of stability, surpassing $100 billion in active in-force life insurance in 2018.