American National Group Inc.
For the period ended Mar 31, 2026. Filed May 14, 2026.
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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, 2026 · Filed May 14, 2026
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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Condensed Consolidated Statements of Cash Flows (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating activities: | ||
| Net income (loss) | $3 | $(203) |
| Less: Net income from discontinued operations | — | (26) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Other policy revenue | (162) | (149) |
| Accretion on investments | (138) | (203) |
| Amortization of deferred policy acquisition costs, deferred sales inducements and value of business acquired | 272 | 238 |
| Deferral of policy acquisition costs | (240) | (254) |
| Gains on investments and derivatives | 434 | 300 |
| Other losses (gains) | 5 | (12) |
| Provisions for credit losses | 1 | — |
| Income from real estate partnerships, investment funds and corporations | (72) | (82) |
| Distributions from real estate partnerships, investment funds and corporations | 31 | 131 |
| Interest credited to policyholders' account balances | 545 | 512 |
| Change in fair value of embedded derivatives | (297) | (134) |
| Depreciation and amortization | 41 | 51 |
| Deferred income taxes | 13 | (52) |
| Changes in operating assets and liabilities: | ||
| Insurance-related liabilities | 50 | 653 |
| Funds withheld for reinsurance liabilities | (80) | (84) |
| Reinsurance recoverables and deposit assets | 166 | 302 |
| Accrued investment income | (6) | (4) |
| Working capital and other | 133 | (275) |
| Cash used by operating activities - discontinued operations | — | (37) |
| Cash flows provided by operating activities | 699 | 672 |
| Investing activities: | ||
| Purchase of investments: | ||
| Available-for-sale fixed maturity securities | (4,696) | (2,592) |
| Equity securities | (1) | — |
| Mortgage loans on real estate | (337) | (304) |
| Private loans | (286) | (631) |
| Investment real estate and real estate partnerships | (118) | (39) |
| Investment funds | (434) | (161) |
| Short-term investments | (526) | (7,448) |
| Other invested assets | (107) | (20) |
| Proceeds from sales and maturities of investments: | ||
| Available-for-sale fixed maturity securities | 910 | 1,208 |
| Equity securities | 4 | 1 |
| Mortgage loans on real estate | 542 | 783 |
| Private loans | 685 | 165 |
| Investment real estate and real estate partnerships | 179 | 36 |
| Investment funds | 96 | — |
| Short-term investments | 415 | 3,583 |
| Other invested assets | 75 | 18 |
| Purchases of derivatives | (272) | (213) |
| Proceeds from sales and maturities of derivatives | 293 | 308 |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Purchase of intangibles and property and equipment | (11) | (5) |
| Change in collateral held for derivatives | (719) | (575) |
| Other | (6) | 66 |
| Cash from investing activities - discontinued operations | — | 72 |
| Cash flows used in investing activities | (4,314) | (5,748) |
| Financing activities: | ||
| Issuance of preferred equity | — | 292 |
| Redemption of preferred equity | — | (400) |
| Dividends paid to stockholders | (6) | (19) |
| Borrowings from related parties | 8 | 195 |
| Repayment of borrowings to related parties | (13) | (14) |
| Borrowings from external parties | 1 | — |
| Borrowings issued to reinsurance entities | — | 6 |
| Repayment of borrowings issued to reinsurance entities | — | (6) |
| Policyholders’ account deposits | 3,687 | 3,514 |
| Policyholders’ account withdrawals | (2,796) | (2,301) |
| Issuance of equity, noncontrolling interests | 6 | 1 |
| Distributions to noncontrolling interests | 2 | (3) |
| Cash flows provided by financing activities | 889 | 1,265 |
| Cash and cash equivalents | ||
| Cash and cash equivalents, beginning of period | 11,660 | 11,330 |
| Net change during the period | (2,726) | (3,811) |
| Cash and cash equivalents, end of period | 8,934 | 7,519 |
| Less: Cash and cash equivalents of discontinued operations | — | 496 |
| Cash and cash equivalents, end of period | $8,934 | $7,023 |
| Supplementary cash flow disclosure: | ||
| Cash taxes paid (net of refunds received) | $(55) | $(38) |
| Cash interest paid | 26 | 20 |
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