American National life insurance

Overview

American National is a Texas life insurance and annuity group that has belonged to Brookfield Wealth Solutions, the insurance arm of the Canadian investment firm Brookfield, since 2022. Its NAIC group, listed under Brookfield Wealth Solutions, ranked #38 among U.S. life insurance groups by 2024 individual life direct premiums written, according to NAIC market share data, with about $913.7 million in premiums and a 0.58% market share. The group also includes American Equity Investment Life Insurance Company and Eagle Life, which Brookfield added in 2024.

That ranking reflects the life business American National used to write. In March 2025 it announced that it would stop writing new life insurance, and since May 31, 2025 it has not accepted new life applications through its multiple-line and independent agents. According to its 2025 annual report, it still sells certain life products through its career agents, but its growth is now in fixed and fixed indexed annuities, pension risk transfer and funding agreements. Its 2025 life segment revenue was $603 million, against $7.2 billion for annuities.

For most readers the practical point is this: if you own an American National, Garden State Life, American National Life of Texas or American National Life of New York policy, it remains in force, and American National says it will keep servicing in-force policies without interruption.

History

American National Insurance Company was founded in Galveston, Texas, in 1905 by William Lewis Moody Jr. It grew into one of the largest Texas-based insurers. For most of its history it was controlled by the Moody family through the Moody Foundation and family trusts, and it expanded from life insurance into annuities, health insurance and property and casualty coverage. American National Life Insurance Company of New York began in 1953 as Farm Family Life Insurance Company.

Brookfield Asset Management Reinsurance Partners (later renamed Brookfield Wealth Solutions) agreed to buy American National in August 2021 and completed the $5.1 billion purchase on May 25, 2022, ending more than a century of Moody family control. On May 2, 2024, Brookfield acquired American Equity Investment Life Holding Company, an Iowa fixed indexed annuity specialist, and five days later merged the American National holding company into it. The combined holding company took the name American National Group Inc.; its common stock was delisted, and only preferred shares still trade on the New York Stock Exchange.

A run of changes followed. Effective July 1, 2024, American National reinsured about $3.4 billion of reserves on term, whole, universal and indexed universal life policies, roughly half of its in-force life business, with Reinsurance Group of America (RGA), keeping policyholder service in-house. In 2025 it stopped writing most new life insurance. On October 1, 2025, it transferred its property and casualty companies, including Farm Family Casualty and American National Property and Casualty, to Clearbrook Group, another Brookfield company. In 2026 it closed its historic Galveston headquarters tower at One Moody Plaza, moving remaining staff to League City and to Houston, where it had opened an office at Three Allen Center in 2023. Tim Walsh is president and chief executive.

Life insurance products

American National no longer sells new life insurance through independent or multiple-line agents. The last date to submit those applications was May 31, 2025, and policies had to be placed by July 31, 2025. Its 2025 annual report says certain life products remain available through its career agent channel, but its website does not list them, so ask a career agent directly if you are approached about a new policy.

The life policies the group has in force include term, whole life (some participating, paying dividends), universal life, indexed universal life, universal life with secondary guarantees and variable universal life. They were issued by four companies:

• American National Insurance Company, licensed in all states except New York.
• American National Life Insurance Company of Texas, which sold whole life through independent agents.
• Garden State Life Insurance Company, which sold life products.
• American National Life Insurance Company of New York (formerly Farm Family Life), licensed in New York and 12 other states.

Many of these policies are now reinsured with RGA. Reinsurance does not change your contract: your policy number, premiums, guarantees and beneficiaries stay the same, and American National continues to bill, service and pay claims. Our guide to when your life insurance policy is sold to another company explains how these transfers work.

Other products

Annuities are now the core business. American National Insurance Company, American Equity Investment Life and Eagle Life sell fixed indexed annuities, fixed rate annuities including multi-year guarantee products (MYGAs) and single premium immediate annuities through independent agents, brokers and financial institutions. The group also takes on corporate pension obligations through pension risk transfer and issues funding agreements to institutional investors. Health and disability policies remain in force and are serviced through separate phone lines.

Buying and service

New annuities are sold through independent agents, brokers and banks. Existing life policyholders handle billing and policy service at 800-899-6806; variable life contracts use 800-306-2959. Annuity owners call 800-252-9546. Customers of Garden State Life and American National Life of Texas can call 888-290-1085, and American National Life of New York customers 866-490-3163. The website offers an online account, downloadable forms and a virtual assistant.

Because the group's ownership and structure changed several times between 2022 and 2025, it is worth keeping your annual statements and confirming your beneficiary designations. Our how to review your life insurance policy every year guide has a checklist.

Claims

Beneficiaries can file a life or annuity death claim online through the claims page on americannational.com or by calling 800-615-7372. Status questions on existing life claims can go to [email protected], and claim mail goes to P.O. Box 10466, Springfield, MO 65808-0466. Claim forms are on the site's forms page. The site does not list required documents; expect to need a certified death certificate and a claimant statement. Our claims guide covers the usual steps.

Ratings and reputation

According to American National Group's 2025 annual report, as of December 31, 2025, AM Best rated American National Insurance Company, American National Life of New York, American National Life of Texas and American Equity Investment Life A (Excellent) with stable outlooks. Garden State Life's A rating was "under review with developing implications." AM Best's most recent affirmation of those A ratings was on November 21, 2025. S&P Global rated American National Insurance Company and its New York affiliate A (Strong), and Fitch rated them A for insurer financial strength, both with stable outlooks. These ratings are a notch or two below the highest-rated mutual insurers.

American National was not among the insurers ranked in the J.D. Power 2026 U.S. Individual Life Insurance Study. Its owner relies on Brookfield's asset management arm to invest its portfolio, including in private credit and other alternative assets, a model shared by other annuity-focused groups owned by investment firms.

Who it suits

American National is now mainly relevant to two groups: people who already own one of its life policies and want to know where service comes from, and annuity shoppers comparing fixed indexed or fixed rate annuities from a Brookfield-backed insurer. It is not a practical choice for most people looking to buy a new life policy, since independent and multiple-line agents can no longer offer one.

• Strengths: A ratings from AM Best, S&P and Fitch; in-force policies continue to be serviced by American National itself, including those reinsured to RGA; a large annuity platform combining American National and American Equity.
• Weaknesses: Stopped writing most new life insurance in 2025; repeated restructuring since 2022, including the 2024 RGA reinsurance deal, the 2025 transfer of its property and casualty arm and the 2026 closing of its Galveston headquarters; not ranked by J.D. Power; ratings below the top tier.

How to contact American National