American National Insurance Company
AMERICAN NATIONAL INSURANCE COMPANY
One Moody Plaza
Corporate Office Phone: (409)763-4661
One of the major players in the insurance business is the American National Insurance Company, or American National, with headquarters in Galveston, Texas. It operates in 50 U.S. States, Puerto Rico, American Samoa and the District of Columbia.
The company was founded by William Lewis Moody, Jr. in Galveston, Texas in the year 1905. From its humble beginnings, the company has expanded to different insurance services, which include annuities, life insurance, property and casualty insurance, health insurance, pension plan services, and credit insurance. Its subsidiary, Securities Management and Research Inc. distributes the company’s products.
The company is a publicly traded corporation. In spite of this, control is vested with the Moody family, through the Libby Shearn Moody Trust and the Moody Foundation. Both organizations are administered by the Moody National Bank trust department.
Revenue that the company posted in 2007 was $ 3.071 Billion with a net income of & 240.773 Million.
The company’s subsidiaries include: American National Property and Casualty Company, Farm family Casualty Insurance Company, Garden State Life Insurance Company, Farm Family Insurance Company, Standard Life and Accident Insurance Company, Securities Management and Research Inc. and the American National Life Insurance Company. One of its subsidiaries, the Securities Management and Research is responsible for investment advisory. It also manages mutual funds. Its subsidiary, the ANREM, helped create and develop large-scale development housing in South Shore Harbour, Texas.
American National is regulated and examined by all the fifty states and also by the United States Securities and Exchange Commission (USSEC) and the FTC or Federal Trade Commission. Its auditor is KPMG. Other leaders in financial ratings are also responsible in auditing the company. Ratings include its capitalization, liquidity, as well as operating performance.
In 2009, the company was listed in the “100 Most Trustworthy Companies” of Forbes Magazine. A.M. Best Company gave American National a rating of A (Excellent). This rating was based on a series of profitability, liquidity, and leverage tests. On the other hand, Standard and Poor’s gave the company a AA- (Very strong) rating. This means that the company has strong operating performance and capitalization including strong liquidity and business organization.
Owing to its excellent ratings, the company enforces high ethical standards in business practices such as promoting full financial reporting, fair, accurate, and timely disclosure to the public, and compliance with government laws, accountability, and the like.
The company also strictly practices its Code of Ethics, which focuses on the commitment in all business dealings.
The American National company is managed by the following Board of Directors: Robert L. Moody (Chairman and CEO), G. Richard Ferdinandtsen (President and COO), Russell S. Moody, William L. Moody IV, Frances Anne Moody-Dahlberg, Shelbey M. Elliot, R. Eugene Lucas, Irwin M. Herz, Jr., James D. Yarbrough, Arthur O. Dummer, and E. Douglas McLeod, and Frank P. Williamson. Its former directors include Mary Moody Northen and Shearn Moody Jr.