A
American National Group Inc.
Period
FY 2025
Revenue
$7.49B
Net Income
$533.00M
Total Assets
$130.26B
Equity
$9.67B
Shares Out
10.0K
Op. Cash Flow
$2.78B
Business
American National Group Inc. is an insurance and retirement-services company operating through two reportable segments: Annuities and Life Insurance. The Annuities segment offers fixed index annuities, fixed rate annuities, pension risk transfer, funding agreements, and single premium immediate annuities to retail and institutional customers. The Life Insurance segment provides whole life, universal life, and variable universal life insurance products. The company operates through subsidiaries in 50 U.S. states, the District of Columbia, Bermuda, Guam, and Puerto Rico.
Summary from 10-K filed 2026-03-31
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net premiums | 1,716 | 3,679 | 1,669 | 20 | 58 | |
| Other policy revenue | 691 | 657 | 414 | — | — | |
| Net investment income | 4,888 | 3,481 | 1,240 | 2,307 | 2,037 | |
| Investment related gains (losses) | 92 | −333 | −2 | −48 | −13 | |
| Other income | 100 | 35 | 74 | 42 | 16 | |
| Total revenues | 7,487 | 7,519 | 3,395 | 1,414 | 3,690 | |
| Policyholder benefits and claims incurred | 2,210 | 4,048 | 1,855 | — | — | |
| Interest sensitive contract benefits | 2,026 | 1,745 | 480 | — | — | |
| Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired | 1,008 | 587 | 112 | — | — | |
| Change in fair value of insurance-related derivatives and embedded derivatives | 216 | −94 | 36 | −1,138 | 1,349 | |
| Change in fair value of market risk benefits | 725 | −3 | −69 | 4 | 269 | |
| Operating expenses | 725 | 701 | 430 | — | — | |
| Interest expense | 183 | 165 | 99 | — | — | |
| Total benefits and expenses | 7,093 | 7,149 | 2,943 | −1,018 | 2,987 | |
| Net income before income taxes | 394 | 370 | 452 | 2,432 | 703 | |
| Income tax expense (benefit) | −20 | −199 | 43 | 511 | 150 | |
| Income from continuing operations | 414 | 569 | 409 | — | — | |
| Income (loss) from discontinuing operations, net of tax | 126 | 111 | −12 | — | — | |
| Net income | 540 | 680 | 397 | 1,921 | 553 | |
| Less: Net income (loss) from continuing operations attributable to noncontrolling interests, net of tax | 7 | −49 | 5 | — | — | |
| Net income attributable to American National Group Inc. stockholders | 533 | 729 | 392 | 1,920 | 553 | |
| Less: Preferred stock dividends and redemption | 64 | 33 | 0 | 44 | 44 | |
| Net income attributable to American National Group Inc. common stockholder | 469 | 696 | 392 | 1,877 | 509 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2022 2022-05-31 |
|---|---|---|---|---|---|---|
| Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $3 and $25, respectively; amortized cost of $56,854 and $45,371, respectively) | 57,992 | 45,591 | 12,877 | 39,805 | — | |
| Equity securities, at fair value | 1,179 | 611 | 1,404 | — | — | |
| Real estate and real estate partnerships (net of accumulated depreciation of $228 and $228, respectively) | 5,800 | 4,656 | 3,611 | 1,056 | — | |
| Investment funds | 3,187 | 3,012 | 1,592 | — | — | |
| Policy loans | 234 | 274 | 390 | — | — | |
| Short-term investments, at estimated fair value | 600 | 4,177 | 2,397 | — | — | |
| Other invested assets | 1,485 | 2,007 | 120 | 1,817 | — | |
| Total investments | 90,516 | 77,961 | 28,243 | 51,325 | — | |
| Cash and cash equivalents | 11,660 | 10,867 | 3,192 | 1,920 | — | |
| Accrued investment income | 799 | 736 | 196 | 498 | — | |
| Deferred policy acquisition costs, deferred sales inducements and value of business acquired | 11,513 | 10,504 | 803 | 699 | 1,738 | |
| Deferred tax asset | 460 | 495 | 291 | 438 | — | |
| Reinsurance recoverables and deposit assets | 9,255 | 9,862 | 427 | 13,255 | — | |
| Property and equipment (net of accumulated depreciation of $352 and $326, respectively) | 161 | 154 | 168 | — | — | |
| Intangible assets (net of accumulated amortization of $154 and $56, respectively) | 1,501 | 1,526 | 44 | — | — | |
| Goodwill | 748 | 748 | 86 | 86 | 44 | |
| Other assets | 2,822 | 2,617 | 541 | 643 | — | |
| Separate account assets | 822 | 1,343 | 1,189 | — | — | |
| Assets related to discontinued operations | 0 | 4,408 | — | — | — | |
| Total assets | 130,257 | 121,221 | 35,885 | 73,184 | — | |
| Future policy benefits | 10,962 | 9,170 | 6,108 | — | — | |
| Policyholders account balances | 92,992 | 83,079 | 17,177 | 14,310 | — | |
| Policy and contract claims | 410 | 396 | 1,870 | 1,786 | 1,496 | |
| Market risk benefits | 4,536 | 3,655 | 34 | 2,455 | — | |
| Other policyholder funds | 353 | 340 | 335 | — | — | |
| Notes payable | 205 | 189 | 174 | — | — | |
| Long term borrowings | 2,951 | 2,957 | 1,493 | — | — | |
| Funds withheld for reinsurance liabilities | 3,088 | 3,321 | 0 | — | — | |
| Separate account liabilities | 822 | 1,343 | 1,189 | 1,045 | — | |
| Liabilities related to discontinued operations | 0 | 2,745 | — | — | — | |
| Total liabilities | 120,588 | 111,193 | 29,986 | 70,813 | — | |
| Commitments and Contingencies (Note 27) | — | — | — | — | — | |
| Additional paid-in capital | 6,404 | 7,569 | 5,185 | 1,325 | — | |
| Accumulated other comprehensive income, net of taxes | 1,094 | 340 | −109 | −3,746 | — | |
| Retained earnings | 1,759 | 1,356 | 716 | 4,686 | — | |
| Non-controlling interests | 120 | 78 | 107 | 21 | — | |
| Total equity | 9,669 | 10,028 | 5,899 | 3,755 | 6,496 | |
| Total liabilities and equity | 130,257 | 121,221 | 35,885 | 73,184 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Other policy revenue | −691 | −657 | −414 | — | — | |
| Accretion on investments | −681 | −458 | −151 | 3 | 20 | |
| Deferral of policy acquisition costs | −1,245 | −860 | −363 | −199 | −310 | |
| Gains on investments and derivatives | −512 | −286 | −103 | — | — | |
| Other losses (gains) | 32 | 0 | 77 | — | — | |
| Provisions for credit losses | 37 | 105 | 27 | — | — | |
| Income from real estate partnerships, investment funds and corporations | −378 | −311 | −100 | — | — | |
| Distributions from real estate partnerships, investment funds and corporations | 250 | 390 | 80 | — | — | |
| Interest credited to policyholders' account balances | 2,026 | 2,144 | 480 | — | — | |
| Change in fair value of embedded derivatives | 531 | 405 | 36 | — | — | |
| Depreciation and amortization | 168 | 70 | 50 | 14 | 6 | |
| Deferred income taxes | 89 | −105 | 50 | — | — | |
| Insurance-related liabilities | 1,506 | 1,362 | 1,029 | — | — | |
| Premiums due and other receivables | −53 | 37 | 8 | — | — | |
| Funds withheld for reinsurance liabilities | −284 | −452 | 0 | — | — | |
| Reinsurance recoverables and deposit assets | 902 | 1,307 | 23 | −187 | −3,187 | |
| Accrued investment income | −63 | −148 | 99 | −53 | −47 | |
| Working capital and other | −5 | −1,116 | −160 | −153 | 12 | |
| Cash used by operating activities - discontinued operations | −269 | −61 | −3 | — | — | |
| Cash flows provided by operating activities | 2,782 | 2,522 | 1,186 | — | — | |
| Acquisition of subsidiary, net of cash acquired | 58 | 8,015 | 0 | — | — | |
| Disposition of subsidiary, net of cash disposed | −626 | 653 | 72 | — | — | |
| Available-for-sale fixed maturity securities | −17,221 | −8,618 | −2,124 | −8,895 | −9,207 | |
| Equity securities | −217 | −332 | −189 | — | — | |
| Mortgage loans on real estate | −1,776 | −1,839 | −604 | −3,092 | −2,387 | |
| Private loans | −3,234 | −2,385 | 0 | — | — | |
| Investment real estate and real estate partnerships | −1,253 | −217 | −415 | — | — | |
| Investment funds | −2,513 | −307 | 0 | — | — | |
| Short-term investments | −11,234 | −13,024 | −705 | — | — | |
| Other invested assets | −416 | −89 | −21 | −1,843 | −1,512 | |
| Available-for-sale fixed maturity securities | 8,389 | 5,288 | 2,641 | — | — | |
| Equity securities | 234 | 9 | 109 | — | — | |
| Mortgage loans on real estate | 2,704 | 2,145 | 623 | 1,916 | 863 | |
| Private loans | 1,250 | 713 | 0 | — | — | |
| Investment real estate and real estate partnerships | 145 | 311 | 40 | — | — | |
| Investment funds | 414 | 393 | 0 | — | — | |
| Short-term investments | 14,673 | 10,815 | 0 | — | — | |
| Other invested assets | 109 | 58 | 185 | 739 | 369 | |
| Purchases of derivatives | −1,183 | −605 | 0 | −790 | −748 | |
| Proceeds from sales and maturities of derivatives | 1,220 | 1,292 | 0 | — | — | |
| Purchase of intangibles and property and equipment | −61 | −37 | −133 | — | — | |
| Proceeds from sales of intangibles and property and equipment | 0 | 35 | 0 | — | — | |
| Purchase of equity accounted investments | 0 | 0 | −739 | — | — | |
| Distributions from equity accounted investments | 0 | 7 | 61 | — | — | |
| Change in collateral held for derivatives | 283 | −78 | 110 | — | — | |
| Other | 128 | −65 | −213 | — | — | |
| Cash from investing activities - discontinued operations | 381 | 382 | 1 | — | — | |
| Cash flows provided by (used in) investing activities | −9,746 | 2,520 | −1,301 | −2,455 | −6,224 | |
| Contributions from (distributions to) shareholders | 361 | 0 | — | — | — | |
| Issuance of preferred equity | 292 | 0 | 0 | 0 | 0 | |
| Redemption of preferred equity | −700 | 0 | 0 | — | — | |
| Dividends paid to stockholders | −49 | −33 | −750 | — | — | |
| Borrowings from related parties | 12 | 0 | 0 | — | — | |
| Repayment of borrowings to related parties | −41 | −239 | 0 | — | — | |
| Borrowings from external parties | 1,216 | 2,500 | 0 | — | — | |
| Repayment of borrowings to external parties | −1,200 | −887 | 0 | −4 | 0 | |
| Borrowings issued to reinsurance entities | 3 | 0 | — | — | — | |
| Repayment of borrowings issued to reinsurance entities | 4 | −201 | 0 | — | — | |
| Policyholders account deposits | 17,650 | 10,866 | 4,921 | — | — | |
| Policyholders account withdrawals | −10,299 | −8,753 | −2,281 | — | — | |
| Debt issuance costs | −13 | −4 | 0 | — | — | |
| Payment related to recapture of reinsurance agreement | 0 | −114 | 0 | — | — | |
| Issuance of equity, noncontrolling interests | 72 | 42 | 0 | — | — | |
| Distributions to noncontrolling interests | −14 | −81 | 28 | — | — | |
| Cash flows provided by financing activities | 7,294 | 3,096 | 1,918 | −2,178 | −2,595 | |
| Net change during the period | 330 | 8,138 | 1,803 | −2,589 | −4,587 | |
| Cash interest paid | 158 | 153 | 99 | 36 | 30 | |
| Available-for-sale fixed maturity securities received in connection with pension risk transfer transactions | 175 | 1,629 | 0 | — | — | |
| Equity securities transferred as consideration paid for acquisition of a subsidiary | 0 | 0 | 2,130 | — | — | |
| Non-cash deposit on reinsurance | 0 | 3,394 | 0 | — | — | |
| Transfer of invested assets | 0 | −1,803 | 0 | — | — | |
| Available-for-sale fixed maturity securities received as proceeds from investment fund sales | 786 | 0 | 0 | — | — | |
| Assets reverted in connection with pension termination | 295 | 0 | 0 | — | — | |
| Private loans received as proceeds from other invested assets as part of common control transactions | 638 | 0 | 0 | — | — |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro
Frequently asked questions
What is American National Group Inc.'s CIK number?
American National Group Inc.'s SEC CIK number is 0001039828 (1039828). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find American National Group Inc.'s SEC filings?
All of American National Group Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did American National Group Inc. last report earnings?
American National Group Inc. (ANG-PD) most recently filed an earnings 8-K with the SEC on May 22, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001039828-26-000011). This is American National Group Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is American National Group Inc.'s most recent earnings 8-K?
American National Group Inc.'s latest earnings 8-K (Item 2.02) was filed May 22, 2026 under accession 0001039828-26-000011. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View American National Group Inc.'s latest earnings 8-K →
Look up any company's CIK number →