American National Insurance Corp.
Introduction
American National Insurance Corp. is a North American multinational financial services organization. American National Insurance Corp. deals with the provision of financial and insurance services such as annuities, life insurance, pension products and properties, health insurance as well as casualty and other related life and property protection services and claims. Its products and services are tailored to serve several economic sectors, including but not limited to, personal lines, commercial business, agribusiness, health, finance, construction, government corporations, et cetera. In its entirety, American National Insurance Corporation operates under the following brands and subsidiaries, American National Life Insurance Company, American National Property & Casualty Company, Farm Family Casualty Insurance Company, United Farm Family Insurance Company, Standard Life and Accident Insurance Company, Garden State Life Insurance Company, amongst others.
The company since its inception in the year 1905, which is approximately 117 years ago has been enlisted on the list of prominent ranking organizations. Typically, in the year 2016, American National Insurance Corporation is ranked in the 723rd position on the Fortune 500 list, indicating the company as one of the largest corporations (based on its annual revenue generation) both in the United States and across the world. Similarly, American National Insurance Corp. is ranked in the 1809th position in the Forbes Global 2000 list of the largest companies in the world based on sales, assets, market value, and profit. It is also ranked in the 411th position of Forbes America’s Best Midsize Employers list of 2022. In the year 2022, American National Insurance Corp. recorded a total revenue of $.4.4 Billion USD according to Forbes Magazine.
However, in this article, you will be shown a more detailed, comprehensive, and extensive review of the company, American National Insurance Corporation. As a result, the kickoff will begin with the company’s key facts and it will flow to all aspects of its operations, and dealings. In view of this, all relevant information detailing its key facts, historical background, its products and service offerings, financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the corporation as quickly as possible.
Statistics
Founding Year: American National Insurance Corporation was founded in the year 1905, approximately 117 years ago.
Industrial Ranking: Ranked on in the 1809th position of Forbes’s Global 2000 list. Ranked in the 723rd of Fortune 500 list.
Company Type: A Public Corporation Company (PLC)
Market Reach: American National Insurance Corporation operates globally, and its offices are mounted strategically in over 50 states in the United States as well as other major countries in the world.
Industry Type: Insurance and Financial Services
Trading Type: American National Insurance Corporation is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, ANAT. The company’s stock is traded on NASDAQ and is a component of Russell 2000.
Workforce Strength: American National Insurance Corporation has more than 4, 545 employees in its workforce internationally according to Forbes Magazine.
Historical Background
With its headquarters mounted in One Moody Plaza, Galveston, Texas, the American National Insurance Corporation’s genesis began with its founding father, William Lewis Moody, Jr., one who through his remarkable entrepreneurial mindset founded the insurance company.
In the year 1905, William founded American National Insurance Corporation in Galveston, Texas. However, the company at the time of its early years paid no dividend to its investors in that the owner, William, believes in the philosophy that the income of businesses in their earliest years should be channeled on investment and growth of the company.
In the years between 1905 and 1910, the company witnessed an great expansion based on William’s plan for growth as the company’s assets increased 10 times, growing from $2.1 Million USD up to $22 Million USD within the space of 5 years. So that in the year 1911, the company began paying dividends to its investors.
In the 1920s, American National Insurance Corporation witnessed another significant growth in its assets with over 400% increase, taking down all other competitors in the industry at that period who majorly witnessed less than a 200% increase.
In the year 1942, during World War II, the company’s sales as well as its assets grew with an increase of 37%. During that period, the company played a significant role in the U.S. Military’s effort as it bought war bonds rolled out by the government which amounted to a total sum of $33 Million USD. Around that time, the company’s status surpasses the reserve benchmark.
In the year 1950, American National Insurance Corporation diversified into the casualty insurance market segment with its acquisition of an firm based in Missouri, operating under the name, Commonwealth Life & Accident Insurance Company.
In the year 1967, the firm bought a substantial amount of shares in Trans World Life Insurance Company. As at the end of the succeeding year, 1968, the corporation expanded beyond the shores of North America, by entering into the European market using Western Europe as a starting point.
By the year 1969, The company was controlling a total number of 1000 employees in its workforce as well as up to 7, 000 agents.
In the years the 2000s the company had already grown to become one of the 100 most sought-after insurance firms in the U.S., and it continued its excellent operations and performances, penetrating the insurance industry of other countries where its branches are located across the world.
Divisions & Business Segments
In its entirety, the firm operates in diverse business segments and the list includes:
Independent Markets
Home Services
Individual Health Insurance
Group Insurance
Credit Insurance
Multiple-Line
Property and Casualty Protection
Subsidiaries and Affiliates
American National Life Insurance Company
American National Property & Casualty Company
Farm Family Casualty Insurance Company
United Farm Family Insurance Company
Standard Life and Accident Insurance Company
Garden State Life Insurance Company.
ANREM Corporation
Security Management and Research Inc.
American National Llyods Insurance Company
Financial Overview
Revenues: $4.4 Billion USD (Forbes 2022)
Net Income (Profit): $699.3 Billion USD (Forbes 2022)
Total Equity: $6.6 Billion USD ( 2020)
Total Assets: $29.5 Billion USD (2020)
Market Value: $3.106 Billion USD (Fortune 2016)
Products and Service Offerings
Life Insurance
Annuities
Business Insurance
Health Insurance
Auto Insurance
Homeowners Insurance
Renters Insurance
Collector Car Insurance
Recreational Vehicles
Specialty Products
Farm & Ranch Insurance
Mutual Funds
And other Financial Products
Pros and Cons
According to reviews on Glassdoor and a critical study of the company, the following are its pros and cons:
Pros include:
The company in its entirety offers a lot of benefits that are not only limited to its customers, owners, and employees alone but also by extension, its immediate communities and the entire world at large. However, this section will outline the company’s major benefits to all its major stakeholders which include its customers, employees, communities, and owners.
Financial Capability: With a long-shot years of sustainability in business since the 17th century without liquidating, the company has proven to be a resilient company with a solid financial strength.
Adequate and Long-shot of Industrial Experience: The company’s lengthy years of industry existence is one of the strengths the company leveraged to build itself a world-class brand whilst delivering its services.
Industry Expert: The corporation is an expert in the industry and as such, customers could rely on it completely for it knows and practically understands how the world of insurance operates.
Social Support and Sustainability Development: The corporation actively supports and strengthens sustainability by striving to enhance its approach to innovative products, and talent, while improving its impact on its global climate. Additionally, the American National Insurance Corporation’s philosophy is based on developing innovative and social-driven products that help people flourish in across the world.
Embraces Cultural Diversity: Some employees at the company reveal that the company fosters and values cultural diversity and also invests in its employees.
Perks and Benefits for Employees: According to the reviews of Glassdoor, majority of the company’s workers reveals that the company has tons of benefits and perks it made available for its staff to leverage. Perks including health allowance, leave and hazard bonuses, HMO, et cetera, are part of the company’s staff welfare policy.
Work/Life Balance: Most employees are quite pleased with the way the company’s workload is designed which technically allows them to maintain a work/life balance.
Cons include:
There are literally no substantial cons for this company.
Conclusion
In conclusion, deducing from the above extensive analysis of the Forbes Global 2000 company, American National Insurance Corporation, it is quite glaring that the company’s success is a result of its own daring approach towards expansion as well as its level of resilience to withstand the test of time. Nonetheless, based on the information enclosed in this piece, I hope you are able to gather all there is to know about this amazing company, and by extension, this piece will help you make rational decisions in any way possible.
Leave feedback about this
You must be logged in to post a comment.