American National Group Inc.
For the period ended Mar 31, 2025. Filed May 15, 2025.
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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, 2025 · Filed May 15, 2025
ANG-PD$22.01-2.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities: | ||
| Net income (loss) | $(203) | $114 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Other policy revenue | (149) | (112) |
| Accretion on investments | (206) | (164) |
| Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired | 318 | 161 |
| Deferral of policy acquisition costs | (327) | (189) |
| Losses (gains) on investments and derivatives | 308 | (47) |
| Other losses (gains) | (12) | 57 |
| Provisions for credit losses (reversals) | (2) | (1) |
| Income from real estate partnerships, investment funds and corporations | (73) | (43) |
| Distributions from real estate partnerships, investment funds and corporations | 131 | 60 |
| Interest credited to policyholder account balances | 512 | 155 |
| Change in fair value of embedded derivatives | (134) | (19) |
| Depreciation and amortization | 51 | 12 |
| Deferred income taxes | (56) | 26 |
| Changes in operating assets and liabilities: | ||
| Insurance-related liabilities | 652 | 238 |
| Premiums due and other receivables | (17) | (8) |
| Funds withheld for reinsurance liabilities | (84) | — |
| Reinsurance recoverables and deposit assets | 219 | 4 |
| Accrued investment income | (3) | (43) |
| Working capital and other | (254) | 61 |
| Cash flows provided by operating activities | 671 | 262 |
| Investing activities: | ||
| Purchase of investments: | ||
| Fixed maturity, available-for-sale | (2,596) | (1,181) |
| Equity securities | (36) | (28) |
| Mortgage loans on real estate | (305) | (71) |
| Private loans | (631) | — |
| Real estate and real estate partnerships | (39) | (16) |
| Investment funds | (161) | — |
| Short-term investments | (7,455) | (817) |
| Other invested assets | (20) | (41) |
| Proceeds from sales and maturities of investments: | ||
| Fixed maturity, available-for-sale | 1,348 | 597 |
| Equity securities | — | 2 |
| Mortgage loans on real estate | 789 | 113 |
| Private loans | 177 | — |
| Real estate and real estate partnerships | 36 | 77 |
| Short-term investments | 3,583 | — |
| Other invested assets | 18 | 4 |
| Purchases of derivatives | (213) | — |
| Proceeds from sales and maturities of derivatives | 308 | — |
| Purchase of intangibles and property and equipment | (5) | (16) |
| Purchase of equity accounted investments | — | (217) |
CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Distributions from equity accounted investments | — | 52 |
| Change in collateral held for derivatives | (575) | 53 |
| Other, net | 29 | (49) |
| Cash flows used in investing activities | (5,748) | (1,538) |
| Financing activities: | ||
| Issuance of preferred equity | 292 | — |
| Redemption of preferred equity | (400) | — |
| Dividends paid to stockholders | (19) | — |
| Borrowings from related parties | 197 | — |
| Repayment of borrowings to related parties | (14) | (5) |
| Borrowings issued to reinsurance entities | 6 | — |
| Repayment of borrowings issued to reinsurance entities | (6) | — |
| Policyholders’ account deposits | 3,514 | 992 |
| Policyholders’ account withdrawals | (2,301) | (662) |
| Issuance of equity, noncontrolling interest | 1 | — |
| Distributions to noncontrolling interest | (3) | 3 |
| Cash flows provided by financing activities | 1,267 | 328 |
| Cash and cash equivalents | ||
| Cash and cash equivalents, beginning of period | 11,330 | 3,192 |
| Net change during the period | (3,810) | (948) |
| Cash and cash equivalents, end of period | $7,520 | $2,244 |
| Supplementary disclosures of cash flow information: | ||
| Cash taxes paid (net of refunds received) | $(38) | $5 |
| Cash interest paid | 20 | 22 |
| Non-cash investing and financing activities: | ||
| Premium in-kind consideration received | $— | $462 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.