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American National Group Inc.

For the period ended Jun 30, 2025. Filed Aug 13, 2025.

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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, 2025 · Filed Aug 13, 2025

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, 2025

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.)

One Moody Plaza

Galveston, Texas 77550

(Address of principal executive offices, including zip code)

(888)221-1234

(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 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series BANGpBNew York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 7.375% Fixed-Rate Non-Cumulative Preferred Stock, Series DANGpDNew 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 12, 2025,10,000 shares of our common shares were outstanding, all of which are held by Brookfield Wealth Solutions 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):
Condensed Consolidated Statements of Financial Position (unaudited)2
Condensed Consolidated Statements of Operations (unaudited)4
Condensed Consolidated Statements of Comprehensive Income (unaudited)5
Condensed Consolidated Statements of Changes in Equity (unaudited)6
Condensed Consolidated Statements of Cash Flows (unaudited)8
Notes to Condensed Consolidated Financial Statements (unaudited)10
Note 1. Organization and Description of the Company10
Note 2. Summary of Significant Accounting Policies10
Note 3. Available-For-Sale Fixed Maturity Securities11
Note 4. Equity Securities15
Note 5. Mortgage Loans on Real Estate15
Note 6. Private Loans19
Note 7. Real Estate and Real Estate Partnerships20
Note 8. Variable Interest Entities and Equity Method Investments20
Note 9. Derivative Instruments22
Note 10. Net Investment Income and Investment Related Gains (Losses)27
Note 11. Fair Value of Financial Instruments28
Note 12. Reinsurance37
Note 13. Separate Account Assets and Liabilities38
Note 14. Deferred Policy Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired39
Note 15. Intangible Assets41
Note 16. Acquisitions42
Note 17. Future Policy Benefits43
Note 18. Policyholders' Account Balances46
Note 19. Market Risk Benefits48
Note 20. Liability for Unpaid Claims and Claim Adjustment Expenses49
Note 21. Notes Payable and Long Term Borrowings49
Note 22. Income Taxes51
Note 23. Stockholders' Equity51
Note 24. Accumulated Other Comprehensive Income52
Note 25. Related Party Transactions52
Note 26. Segment Reporting54
Note 27. Financial Commitments and Contingencies57
Note 28. Subsequent Events57
Item 2: Management’s Discussion and Analysis of Financial Condition and Results of Operations58
Item 3: Quantitative and Qualitative Disclosures about Market Risk68
Item 4: Controls and Procedures70
PART II - OTHER INFORMATION
Item 1: Legal Proceedings70
Item 1A: Risk Factors70
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds70
Item 3: Defaults Upon Senior Securities70
Item 4: Mine Safety Disclosures70
Item 5: Other Information70
Item 6: Exhibits71
Signatures72
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.