American National Group Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
ANG-PD$22.59+3.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(Dollars in thousands, except per share data)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenues: | ||
| Premiums and other considerations | $640 | $4,137 |
| Annuity product charges | 95,613 | 62,591 |
| Net investment income | 554,739 | 561,323 |
| Change in fair value of derivatives | 409,767 | 45,890 |
| Net realized losses on investments | (94,050) | (27,787) |
| Other revenue | 23,254 | 16,394 |
| Total revenues | 989,963 | 662,548 |
| Benefits and expenses: | ||
| Insurance policy benefits and change in future policy benefits (remeasurement gains (losses) of future policy benefit reserves of $109 and $354 for 2024 and 2023, respectively) | 4,238 | 7,208 |
| Interest sensitive and index product benefits | 304,220 | 57,911 |
| Market risk benefits (gains) losses | (138,770) | 183,694 |
| Amortization of deferred sales inducements | 54,214 | 46,601 |
| Change in fair value of embedded derivatives | 162,202 | 404,440 |
| Interest expense on notes and loan payable | 11,581 | 11,018 |
| Interest expense on subordinated debentures | 1,342 | 1,336 |
| Amortization of deferred policy acquisition costs | 77,337 | 68,235 |
| Other operating costs and expenses | 77,708 | 74,004 |
| Total benefits and expenses | 554,072 | 854,447 |
| Income (loss) before income taxes | 435,891 | (191,899) |
| Income tax expense (benefit) | 93,246 | (36,008) |
| Net income (loss) | 342,645 | (155,891) |
| Less: Net income (loss) available to noncontrolling interests | (353) | 103 |
| Net income (loss) available to American Equity Investment Life Holding Company stockholders | 342,998 | (155,994) |
| Less: Preferred stock dividends | 10,919 | 10,919 |
| Net income (loss) available to American Equity Investment Life Holding Company common stockholders | $332,079 | $(166,913) |
| Earnings (loss) per common share | $4.20 | $(2.00) |
| Earnings (loss) per common share - assuming dilution | $4.13 | $(2.00) |
| Weighted average common shares outstanding (in thousands): | ||
| Earnings (loss) per common share | 79,056 | 83,417 |
| Earnings (loss) per common share - assuming dilution | 80,376 | 83,417 |
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