American National announces results for 2014

American National Insurance Company (Nasdaq:ANAT) announced 2014 net income of $247,193,000 or $9.18 per diluted share compared to net income of $268,372,000 or $9.97 per diluted share for 2013.

After-tax operating income for 2014 increased to $209,791,000 or $7.79 per diluted share, from $185,120,000 or $6.88 per diluted share for 2013. The increase in operating income was primarily due to premium growth across all business segments combined with lower operating expenses. After-tax operating income excludes realized investment earnings (losses), which is comprised of realized investment gains, equity in earnings of unconsolidated affiliates and income from non-controlling interests. Realized investment earnings for 2014 totaled $37,402,000 or $1.39 per diluted share compared to $83,252,000 or $3.09 per diluted share for 2013.

Net income for the fourth quarter of 2014 totaled $69,170,000 or $2.57 per diluted share, compared to $67,619,000 or $2.51 per diluted share in 2013.

After-tax operating income for the fourth quarter of 2014 was $56,217,000 or $2.09 per diluted share, compared to $57,357,000 or $2.13 per diluted share in 2013. Realized investment earnings for the fourth quarter of 2014 totaled $12,953,000 or $0.48 per diluted share compared to $10,262,000 or $0.38 per diluted share in 2013.

As of December 31, 2014, Stockholders’ Equity totaled $4.4 billion, a 5.8% increase from December 31, 2013. Book value per diluted share increased to $164.65 at December 31, 2014 from $155.70 at December 31, 2013.

American National Insurance Company, headquartered in Galveston, Texas, was founded in 1905 and is licensed to conduct the business of insurance in all states except New York. American National has been assigned an ‘A’ rating by A.M. Best Company and an ‘A’ rating by Standard & Poor’s, both of which are nationally recognized rating agencies.

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