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American National Announces Fourth Quarter Results

GALVESTON, Texas, Feb. 27, 2017 (GLOBE NEWSWIRE) — American National Insurance Company (ANAT) announced stronger after-tax handling income for a fourth entertain 2016 of $46.3 million or $1.72 per diluted share, an boost over a same duration 2015 handling income of $45.8 million or $1.69 per diluted share.  Operating income for a entertain benefited from clever payments and property/casualty earnings. 

Net income for a entertain was $59.8 million or $2.22 per diluted share compared with fourth entertain 2015 net income of $62.9 million or $2.33 per diluted share.  Net income includes satisfied investment earnings, that is comprised of satisfied investment gains, equity in gain of unconsolidated affiliates and income (loss) from non-controlling interests. The quarter’s net income was impacted by an boost in a taxation sustenance of $20.6 million as good as a $3.6 million diminution in satisfied investment gain compared to a same duration in 2015.

Net income for 2016 was $181.0 million or $6.71 per diluted share compared to net income of $243.0 million or $9.02 per diluted share for 2015. Realized investment gain for 2016 were $54.3 million or $2.01 per diluted share, $35.2 million reduce compared to $89.6 million or $3.32 per diluted share in 2015.  Book value per diluted share increasing to $172.51 during Dec 31, 2016 from $165.20 during Dec 31, 2015.  Revenue in a life insurance, payments and skill and misadventure segments increasing in 2016 compared to 2015.  

After-tax handling income for 2016 of $126.7 million or $4.70 per diluted share decreased $26.7 million from $153.4 million or $5.70 per diluted share for 2015. Earnings in 2016 enclosed a $22.3 million boost in net disaster waste in a skill misadventure shred over a before year.

2016 Highlights:

  • Total premiums and other revenues, during $3.23 billion, increasing $210.5 million
  • Total life word in force increasing 6.0% to strech $95.6 billion
  • Stockholders’ equity increasing from $4.5 billion to $4.7 billion
  • Book value per diluted share during year-end was $172.51, an boost of $7.31

American National Insurance Company                      
COMPARATIVE HIGHLIGHTS
Compiled on a GAAP basement (Preliminary Unaudited)*

            Quarters Ended     Years Ended   Dec 31,      Dec 31,                        2016     2015       2016     2015                   Revenues  $   839,391,000   $   843,523,000     $   3,227,951,000   $   3,017,455,000 After-tax earnings:                   Operating income  ** $   46,257,000   $   45,797,000     $   126,676,000   $   153,423,000   Realized investment gain **     13,516,000       17,143,000         54,327,000       89,565,000   Net income $   59,773,000   $   62,940,000     $   181,003,000   $   242,988,000                   Per share earnings:                   Operating income – Diluted ** $   1.72   $   1.69     $   4.70   $   5.70   Realized investment gain                   – Diluted **     0.50       0.64         2.01       3.32   Net income – Diluted $   2.22   $   2.33     $   6.71   $   9.02                   Weighted normal series of shares                   on that computations are based:                   Diluted      26,968,521       26,963,519         26,967,072       26,950,066   Basic     26,908,029       26,909,460         26,908,570       26,876,522                       As of         Dec 31, 2016   Dec 31, 2015                       Book value per diluted share   $   172.51   $   165.20                          

* Results are rough and unaudited. American National expects to timely record a Form 10-K by Mar 1.
** Operating income excludes satisfied investment earnings, that is comprised of satisfied investment gains, equity in gain of unconsolidated affiliates, and income (loss) from non-controlling interests, after-tax. Net income is a sum of handling income and satisfied investment earnings.

American National Insurance Company, headquartered in Galveston, Texas, was founded in 1905 and is protected to control a business of word in all states solely New York. American National has been reserved an ‘A’ rating by A.M. Best Company and an ‘A’ rating by Standard Poor’s, both of that are nationally famous rating agencies.

American National is also a family of companies that has, on a combined GAAP basis, $24.5 billion in assets, $19.8 billion in liabilities and $4.7 billion in stockholders’ equity.  American National and a subsidiaries offer a extended line of products and services, that embody life insurance, annuities, health insurance, credit insurance, grant products and skill and misadventure word for personal lines, agribusiness, and targeted blurb exposures.  The American National companies work in all 50 states. Major word subsidiaries embody American National Life Insurance Company of Texas, American National Life Insurance Company of New York, American National Property and Casualty Company, Garden State Life Insurance Company, Standard Life and Accident Insurance Company, Farm Family Life Insurance Company, Farm Family Casualty Insurance Company and United Farm Family Insurance Company.

For some-more information, including association news and financier family information, revisit a company’s web site during www.AmericanNational.com. 

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