American National Life Insurance: A Historical Overview

American National Insurance Company (ANICO) is an American insurance corporation based in Galveston, Texas. The company was founded in 1905 by Galveston businessman William Lewis Moody Jr. and has been offering financial products and services for over 100 years.

American National Insurance Company history

The American National Insurance Company (ANICO) was founded in 1905 by Galveston businessman William Lewis Moody Jr. in Galveston, Texas. Moody became involved with the American National Insurance and Trust Company of Houston in 1904, which he then moved to Galveston and incorporated as the American National Insurance Company in 1905. The company received its charter and made its first stock offering in the same year.

By 1910, insurance in force reached over $22 million, and by 1912, the company employed 70 people in its headquarters and 700 representatives in the field. The company continued to grow, and by 1920, it was known as the "Giant of the South". By 1928, the company employed 500 people in its home office and had absorbed 27 other insurance companies. During the 1930s, the company was widely known for its sponsorship of award-winning girls' basketball teams made up of company employees. In 1945, insurance in force surpassed one billion dollars, and in 1950, the company expanded its operations by acquiring the Commonwealth Life and Accident Insurance Company of St. Louis and entering the health, hospitalization, and credit life insurance fields.

Following Moody's death in 1954, he willed the majority of the company stock to the Moody Foundation, which then controlled the company, along with the banks, newspapers, hotels, and ranches he had accumulated. Moody's daughter, Mary Moody Northen, succeeded him as president of the company. By 1963, American National was one of the top ten stock life and health insurance companies in the nation. The company continued to expand its operations in the following decades, acquiring several other companies and opening branch offices in 400 cities across 49 states. By 1983, it had become the second-largest employer in Galveston.

Today, American National offers a wide range of insurance products and services, including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. The company operates in all 50 U.S. states, Puerto Rico, Canada, Guam, American Samoa, and Western Europe.

American National Insurance Company founders

The American National Insurance Company (ANICO) was founded in 1905 by Galveston businessman William Lewis Moody Jr. Headquartered in Galveston, Texas, the company offers a wide range of insurance products and services, including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services.

William Lewis Moody Jr. was a prominent figure in the business community of Galveston, Texas, in the early 20th century. With a strong entrepreneurial spirit, Moody Jr. established the American National Insurance Company, which has grown to become a major insurance corporation in the United States. The company's subsidiaries operate across all 50 states and Puerto Rico.

Under Moody Jr.'s leadership, the company thrived and expanded its offerings to meet the diverse needs of its customers. The Moody family played a significant role in the company's history, as they controlled the majority of the stock through the Moody Foundation and the Libby Shearn Moody Trust. The Moody Foundation, established in 1942, is a charitable organisation that supports education, social services, and community development initiatives. It has contributed significantly to the growth and impact of the company.

In August 2021, Brookfield Asset Management announced its acquisition of ANICO for $5.1 billion, which was finalised in May 2022. Despite this recent change in ownership, the company remains committed to providing a comprehensive range of insurance solutions to its customers across the nation.

American National Insurance Company subsidiaries

The American National Insurance Company (ANICO) is a major American insurance corporation founded in 1905 by Galveston businessman William Lewis Moody Jr. Headquartered in Galveston, Texas, the company and its subsidiaries operate across all 50 U.S. states and Puerto Rico.

ANICO offers a wide range of insurance products and services, including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. The company is also involved in large-scale housing development projects, such as the South Shore Harbour development in League City, Texas, through its subsidiary, ANREM.

• American National Life Insurance Company of Texas: This subsidiary focuses on providing life insurance products and services in the state of Texas.
• American National Life Insurance Company of New York: This subsidiary is responsible for offering life insurance, annuities, and other related services in the state of New York.
• American National Property and Casualty Company: Based in Springfield, Missouri, this subsidiary specialises in property and casualty insurance, serving customers across the United States.
• Farm Family Casualty Insurance Company: Operating in New York, this subsidiary provides insurance coverage for agricultural families and businesses, including farm and ranch insurance.
• United Farm Family Insurance Company: Also serving the agricultural community, this subsidiary offers insurance solutions tailored to the unique needs of farmers and their families.
• Standard Life and Accident Insurance Company: This subsidiary offers accident insurance and related services, ensuring customers are protected in the event of unforeseen accidents.
• Garden State Life Insurance Company: Garden State Life Insurance Company provides life insurance products and services, helping customers secure financial protection for their loved ones.

These subsidiaries enable American National Insurance Company to provide a comprehensive range of insurance offerings, tailored to meet the diverse needs of individuals, families, and businesses across the United States.

American National Insurance Company acquisitions

The American National Insurance Company (ANICO) was founded in 1905 by Galveston businessman William Lewis Moody Jr. and is headquartered in Galveston, Texas. The company offers a wide range of insurance products and services, including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services.

Over the years, American National Insurance Company has expanded its business through acquisitions and mergers. Here is a detailed overview of some of the company's notable acquisitions:

Farm Family Holdings Inc.

In a transaction valued at approximately $280 million, American National Insurance Company acquired Farm Family Holdings Inc., an insurance holding company with over $1.3 billion in assets. The acquisition was accomplished through the merger of Farm Family and American National Acquisition Co., a wholly-owned subsidiary of American National. Farm Family Holdings Inc. is the parent company of Farm Family Casualty Insurance Company, Farm Family Life Insurance Company, and United Farm Family Insurance Company, which operate in the northeastern states and specialize in property/casualty insurance for farms and agricultural-related businesses.

American National Acquisition Co.

American National Acquisition Co. is a wholly-owned subsidiary of American National Insurance Company, formed specifically for the acquisition of Farm Family Holdings Inc. This merger allowed American National to expand its presence in the northeastern United States and diversify its insurance offerings in the agricultural sector.

American National Property and Casualty Company

American National Insurance Company writes property and casualty insurance through its subsidiary, American National Property and Casualty Company, based in Springfield, Missouri. This subsidiary operates in multiple states, providing specialized insurance services beyond the scope of the parent company's offerings.

ANREM

Through its subsidiary ANREM, American National Insurance Company ventured into real estate development. ANREM founded and developed the large-scale housing development project called South Shore Harbour in League City, Texas. This diversification demonstrates the company's expansion beyond traditional insurance offerings.

Brookfield Asset Management

In August 2021, Brookfield Asset Management announced its agreement to acquire American National Insurance Company for $5.1 billion. The acquisition was completed in May 2022, marking a significant milestone in the company's history.

These acquisitions and subsidiaries have contributed to the growth and diversification of American National Insurance Company, allowing it to expand its reach and enhance its product offerings in the insurance industry.

American National Insurance Company locations

The American National Insurance Company (ANICO) is headquartered in Galveston, Texas, and operates in all 50 US states and Puerto Rico. It was founded in 1905 by Galveston businessman William Lewis Moody Jr.

The company offers a wide range of insurance products and services, including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. It has several subsidiaries, including:

• 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
• Free State of Galveston
• National Western Life

The American National Property and Casualty Company is based in Springfield, Missouri, and the company also has offices in New York, with the following address: 11949 E. Sunshine, Springfield, MO 65899. The company also has a presence in League City, Texas, where it developed the large-scale housing development, South Shore Harbour.

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