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American National Group Inc

For the period ended Jun 30, 2024. Filed Aug 14, 2024.

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About this filing

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.

Jun 30, 2024 · Filed Aug 14, 2024

ANG-PD$22.59+3.2%Stored close · as of Nov 9, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission file number:001-31911

American National Group Inc.

(Exact name of Registrant as specified in its charter)

Delaware42-1447959
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

6000 Westown Parkway

West Des Moines, Iowa 50266

(Address of principal executive offices, including zip code)

(515)221-0002

(Registrant's telephone number, including area code)

Not Applicable

(Former name or address, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Depositary Shares, each representing a 1/1,000th interest in a share of 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series AANGpANew York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series BANGpBNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No ☒

As of August 9, 2024,10,000 shares of our common shares were outstanding, all of which are held by Brookfield Reinsurance Ltd. and its affiliates.

American National Group Inc. meets the conditions set forth in General Instruction (H)(1)(a) and (b) for Form 10-Q and therefore is filing this Form 10-Q in the reduced disclosure format.

TABLE OF CONTENTS

Page
PART I - FINANCIAL INFORMATION
Item 1: Financial Statements (unaudited):
Consolidated Statements of Financial Position (unaudited)2
Consolidated Statements of Operations (unaudited)4
Consolidated Statements of Comprehensive Income (unaudited)5
Consolidated Statements of Changes in Equity (unaudited)6
Consolidated Statements of Cash Flows (unaudited)7
Notes to Consolidated Financial Statements (unaudited)9
Note 1. Organization and Description of the Company9
Note 2. Summary of Significant Accounting Policies9
Note 3. Investments in Available-For-Sale Fixed Maturity Securities22
Note 4. Equity Securities25
Note 5. Mortgage Loans on Real Estate25
Note 6. Private Loans29
Note 7. Real Estate and Real Estate Partnerships30
Note 8. Variable Interest Entities and Equity Method Investments31
Note 9. Derivative Instruments32
Note 10. Net Investment Income and Investment Related Gains (Losses)35
Note 11. Fair Value of Financial Instruments36
Note 12. Reinsurance46
Note 13. Separate Account Assets and Liabilities47
Note 14. Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired48
Note 15. Intangible Assets50
Note 16. Acquisitions51
Note 17. Future Policy Benefits52
Note 18. Policyholders' Account Balances55
Note 19. Market Risk Benefits57
Note 20. Liability for Unpaid Claims and Claim Adjustment Expenses58
Note 21. Notes Payable and Long Term Borrowings59
Note 22. Income Taxes60
Note 23. Stockholders' Equity62
Note 24. Accumulated Other Comprehensive Income63
Note 25. Statutory Financial Information and Dividend Restrictions63
Note 26. Related Party Transactions64
Note 27. Segment Reporting66
Note 28. Financial Commitments and Contingencies68
Note 29. Subsequent Events69
Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations70
Item 3: Quantitative and Qualitative Disclosures about Market Risk82
Item 4: Controls and Procedures83
PART II - OTHER INFORMATION
Item 1: Legal Proceedings84
Item 1A: Risk Factors84
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds104
Item 3: Defaults Upon Senior Securities104
Item 4: Mine Safety Disclosures104
Item 5: Other Information105
Item 6: Exhibits106
Signatures107
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.