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.
- 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
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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