American National Group Inc.

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

Jun 30, 2025 · Filed Aug 13, 2025

ANG-PD$22.01-2.6%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Financial Position (unaudited)

AMERICAN NATIONAL GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Dollars in millions, except share and per share data)
(Unaudited)
	June 30, 2025	December 31, 2024
Assets
Investments:
Available-for-sale fixed maturity securities, at fair value (net of allowance for credit losses of $2 and $27, respectively; amortized cost of $48,260 and $47,127, respectively)	$48,931	$47,292
Equity securities, at fair value	1,238	1,142
Mortgage loans on real estate, at amortized cost (net of allowance for credit losses of $138 and $155, respectively)	11,254	12,117
Private loans, at amortized cost (net of allowance for credit loss of $87 and $66, respectively)	8,120	5,732
Real estate and real estate partnerships (net of accumulated depreciation of $250 and $228, respectively)	5,944	4,992
Investment funds	3,038	3,015
Policy loans	257	274
Short-term investments, at estimated fair value	4,067	4,177
Other invested assets	1,999	2,014
Total investments	84,848	80,755
Cash and cash equivalents	12,104	11,330
Accrued investment income	735	761
Deferred policy acquisition costs, deferred sales inducements and value of business acquired	11,051	10,631
Premiums due and other receivables	463	437
Ceded unearned premiums	173	132
Deferred tax asset	471	529
Reinsurance recoverables and deposit assets	9,835	10,055
Property and equipment (net of accumulated depreciation of $364 and $352, respectively)	167	175
Intangible assets (net of accumulated amortization of $106 and $56, respectively)	1,557	1,545
Goodwill	783	783
Other assets	2,836	2,745
Separate account assets	1,322	1,343
Total assets	$126,345	$121,221

AMERICAN NATIONAL GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Dollars in millions, except share and per share data)
(Unaudited)
	June 30, 2025	December 31, 2024
Liabilities
Future policy benefits	$10,029	$9,170
Policyholders’ account balances	86,934	83,079
Policy and contract claims	1,910	1,867
Market risk benefits	4,227	3,655
Unearned premium reserve	869	1,044
Due to related parties	72	80
Other policyholder funds	397	347
Notes payable	200	189
Long term borrowings	2,953	2,957
Funds withheld for reinsurance liabilities	3,171	3,321
Other liabilities	4,044	4,141
Separate account liabilities	1,322	1,343
Total liabilities	116,128	111,193
Equity
Preferred stock, Series A; par value $1 per share; $25,000 per share liquidation preference; 20,000 shares authorized; issued and outstanding: 2025 - no shares 2024 - 16,000 shares	—	389
Preferred stock, Series B; par value $1 per share; $25,000 per share liquidation preference; 12,000 shares authorized; issued and outstanding: 2025 - 12,000 shares 2024 - 12,000 shares	296	296
Preferred stock, Series D; par value $1 per share; $25,000 per share liquidation preference; 12,000 shares authorized; issued and outstanding: 2025 - 12,000 shares 2024 - no shares	292	—
Additional paid-in capital	7,547	7,569
Accumulated other comprehensive income, net of taxes	664	340
Retained earnings	1,283	1,356
Non-controlling interests	135	78
Total equity	10,217	10,028
Total liabilities and equity	$126,345	$121,221

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