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| Type | Public (NASDAQ: ANAT) |
|---|---|
| Founded | 1905 |
| Headquarters | One Moody Plaza Galveston, Texas, U.S. |
| Key people | Robert L. Moody, Chairman & CEO |
| Industry | Insurance Financial Services |
| Products | Insurance Annuities mutual funds Financial Products |
| Revenue | ▲ $3.071 billion USD (2007)[1] |
| Net income | ▲ $240.773 million USD (2007)[1] |
| Employees | 3,094 [2] |
| Website | www.anico.com |
American National Insurance Company (NASDAQ: ANAT) is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa. Through its subsidiary, American National de México, Compañía de Seguros de Vida, it provides products and services in Mexico. [3]
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Company description
American National was founded in 1905 by Galveston businessman William Lewis Moody, Jr.. Today the company offers a wide array of insurance products and services including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. Mutual funds and other securities products are distributed through its broker-dealer subsidiary, Securities Management and Research, Inc. Through its subsidiary, ANREM, the company founded and developed the large-scale housing development, South Shore Harbour, in League City, Texas.[4]
Although a publicly traded company, the majority of the stock continues to be controlled by the Moody family through the Moody Foundation and Libby Shearn Moody Trust, which are administered by the trust department of the family owned Moody National Bank.[5][6][7][8]
Financial ratings[9]
American National is subject to insurance regulation and examination by all 50 states as well as federal entities like the U.S. Securities and Exchange Commission (SEC) and Federal Trade Commission. In addition, its records are audited by KPMG as well as the major financial rating agencies. The ratings reflect the company’s capitalization, operating performance and liquidity. American National was listed in Forbes Magazine in its "100 Most Trustworthy Companies" list for 2009.
- A. M. Best Company: A (Excellent)
- Standard and Poor's: AA- (Very Strong)
Subsidiaries[10]
- American National Property And Casualty Company[1]
- Farm Family Insurance Company[2]
- Farm Family Casualty Insurance Company
- Standard Life and Accident Insurance Company[3]
- Garden State Life Insurance Company
- American National Life Insurance Company of Texas
- Securities Management and Research, Inc.[4]
Corporate governance
Board of directors[11]
- Robert L. Moody (Chairman and Chief Executive Officer)
- Frances Anne Moody-Dahlberg
- Russell S. Moody
- William L. Moody, IV
- G. Richard Ferdinandtsen (President and Chief Operating Officer)
- James D. Yarbrough
- Shelbey M. Elliot
- Frank P. Williamson
- Arthur O. Dummer
- Irwin M. Herz, Jr.
- R. Eugene Lucas
- E. Douglas McLeod
Early controversy
American National's earlier history involved some controversy. The company's early growth occurred largely during the open era of Galveston when the Maceo crime syndicate controlled much of the island during the first half of the 20th century. The Maceos are known to have had significant involvement with the company and, through their influence, the corporation had other questionable dealings with figures such as Cleveland mob boss Moe Dalitz and Teamsters boss Jimmy Hoffa.[12] In fact, one of the company's lawyers during this period, St. Louis attorney Morris Shenker, was described by the Federal Bureau of Investigation as the highest paid mob attorney in the nation. The company became heavily involved in financing the early development of Las Vegas, Nevada, lent millions to mob figures, and was the subject of an investigation by the U.S. government.[13] The investigation was ultimately dropped.
See also
External links
References
- ^ a b American National 2007 Annual Results
- ^ Houston Chronicle: 100 Largest Employers in the Houston Area
- ^ Hoover's
- ^ League City site in midst of boom/South Shore Harbour is hot
- ^ NASDAQ Ownership Summary for ANAT
- ^ Moody Foundation 2005 Annual Report
- ^ Securities and Exchange Commission - ANICO General statement of beneficial ownership filing
- ^ Securities and Exchange Commission: American National Variable Annuity Separate Account, Actuary Consent Filing
- ^ NASDAQ Company News
- ^ Affiliated Companies
- ^ 2007 Annual Report
- ^ Rothman, Hal (2003). Routledge. p. 16. http://books.google.com/books?id=K4940Wy0DikC.
Smith, John L. (2001). Running Scared: The Life and Treacherous Times of Las Vegas Casino King. De Capo Press. p. 64. ISBN 1568581904. http://books.google.com/books?id=8T1LEFUiIwkC. - ^ Walsh, Denny (May 1970). "A Two-Faced Crime Fight In St. Louis". Life Magazine: 31. http://books.google.com/books?id=7lUEAAAAMBAJ.
Cartwright, Gary (1998). Galveston: a history of the island. TCU Press. p. 273. ISBN 0689119917. http://books.google.com/books?id=RFRu8kYThEcC.
Cartwright, Gary (August 1987). "The Sleaziest Man In Texas". Texas Monthly: 162. http://books.google.com/books?id=LCoEAAAAMBAJ.
29°18′25″N 94°47′24″W / 29.307°N 94.7899°WCoordinates: 29°18′25″N 94°47′24″W / 29.307°N 94.7899°W
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