The Full Wiki

American National Insurance Company: Wikis

Advertisements
  
  

Note: Many of our articles have direct quotes from sources you can cite, within the Wikipedia article! This article doesn't yet, but we're working on it! See more info or our list of citable articles.

Encyclopedia

From Wikipedia, the free encyclopedia

American National Insurance Company, Inc
Type Public (NASDAQANAT)
Founded 1905
Headquarters One Moody Plaza
Galveston, Texas, U.S.
Key people Robert L. Moody, Chairman & CEO
Industry Insurance Financial Services
Products Insurance Annuities mutual funds Financial Products
Revenue $3.071 billion USD (2007)[1]
Net income $240.773 million USD (2007)[1]
Employees 3,094 [2]
Website www.anico.com

American National Insurance Company (NASDAQANAT) is a major American insurance corporation based in Galveston, Texas. The company and its subsidiaries operate in all 50 U.S. states, the District of Columbia, Puerto Rico, and American Samoa. Through its subsidiary, American National de México, Compañía de Seguros de Vida, it provides products and services in Mexico. [3]

Contents

Company description

American National was founded in 1905 by Galveston businessman William Lewis Moody, Jr.. Today the company offers a wide array of insurance products and services including life insurance, annuities, health insurance, property and casualty insurance, credit insurance, and pension plan services. Mutual funds and other securities products are distributed through its broker-dealer subsidiary, Securities Management and Research, Inc. Through its subsidiary, ANREM, the company founded and developed the large-scale housing development, South Shore Harbour, in League City, Texas.[4]

Although a publicly traded company, the majority of the stock continues to be controlled by the Moody family through the Moody Foundation and Libby Shearn Moody Trust, which are administered by the trust department of the family owned Moody National Bank.[5][6][7][8]

Financial ratings[9]

American National is subject to insurance regulation and examination by all 50 states as well as federal entities like the U.S. Securities and Exchange Commission (SEC) and Federal Trade Commission. In addition, its records are audited by KPMG as well as the major financial rating agencies. The ratings reflect the company’s capitalization, operating performance and liquidity. American National was listed in Forbes Magazine in its "100 Most Trustworthy Companies" list for 2009.

Subsidiaries[10]

  • American National Property And Casualty Company[1]
  • Farm Family Insurance Company[2]
  • Farm Family Casualty Insurance Company
  • Standard Life and Accident Insurance Company[3]
  • Garden State Life Insurance Company
  • American National Life Insurance Company of Texas
  • Securities Management and Research, Inc.[4]

Corporate governance

Moody Plaza, American National Insurance's Home Office in downtown Galveston, Texas
Advertisements

Board of directors[11]

  • Robert L. Moody (Chairman and Chief Executive Officer)
  • Frances Anne Moody-Dahlberg
  • Russell S. Moody
  • William L. Moody, IV
  • G. Richard Ferdinandtsen (President and Chief Operating Officer)
  • James D. Yarbrough
  • Shelbey M. Elliot
  • Frank P. Williamson
  • Arthur O. Dummer
  • Irwin M. Herz, Jr.
  • R. Eugene Lucas
  • E. Douglas McLeod

Early controversy

American National's earlier history involved some controversy. The company's early growth occurred largely during the open era of Galveston when the Maceo crime syndicate controlled much of the island during the first half of the 20th century. The Maceos are known to have had significant involvement with the company and, through their influence, the corporation had other questionable dealings with figures such as Cleveland mob boss Moe Dalitz and Teamsters boss Jimmy Hoffa.[12] In fact, one of the company's lawyers during this period, St. Louis attorney Morris Shenker, was described by the Federal Bureau of Investigation as the highest paid mob attorney in the nation. The company became heavily involved in financing the early development of Las Vegas, Nevada, lent millions to mob figures, and was the subject of an investigation by the U.S. government.[13] The investigation was ultimately dropped.

See also

References

External links

29°18′25″N 94°47′24″W / 29.307°N 94.7899°W / 29.307; -94.7899Coordinates: 29°18′25″N 94°47′24″W / 29.307°N 94.7899°W / 29.307; -94.7899


Advertisements






Got something to say? Make a comment.
Your name
Your email address
Message