American National Announces Second Quarter 2013 Results

American National Announces Second Quarter 2013 Results

GALVESTON, Texas, July 22, 2013 (GLOBE NEWSWIRE) -- American National
Insurance Company (Nasdaq:ANAT) announced second quarter 2013 net income of
$58,169,000 ($2.16 per diluted share) compared to net income of $20,506,000
($0.76 per diluted share) for the same period in 2012. Improved property and
casualty segment results and higher realized investment gains were the primary
reasons for the increase in net income.

Second quarter after tax operating income, which excludes after tax net
realized investment gains, increased to $29,871,000 ($1.11 per diluted share),
as compared with $17,335,000 ($0.64 per diluted share) for the same period in
2012. After tax net realized investment gains were $28,298,000 ($1.05 per
diluted share) for the second quarter of 2013 as compared with the net
realized gains of $3,171,000 ($0.12 per diluted share) for the second quarter
of 2012.

Net income for the six months ended June 30, 2013 was $118,140,000 ($4.39 per
diluted share), an increase from net income of $65,722,000 ($2.45 per diluted
share), for the same period in 2012.

After-tax operating earnings for the first six months of 2013, which exclude
after tax net realized investment gains, were $78,823,000 ($2.93 per diluted
share) compared to $58,020,000 ($2.16 per diluted share) for the same period
in 2012. Operations for the period benefited from investment income relating
to prepayment of mortgage loan investments and the disposition of certain
investment real estate. After tax net realized investment gains totaled
$39,317,000 ($1.46 per diluted share) for the first six months of 2013
compared with after tax net realized gains of $7,702,000 ($0.29 per diluted
share) for the same period in 2012.

Life insurance from recurring premium products issuedis up 39.3% over the
prior year. Stockholders' Equity as of June 30, 2013 increased 2.4% from the
end of 2012 to $3.9 billion. Book value per diluted share was $145.74 at June
30, 2013 as compared to $142.49 per diluted share at December 31, 2012. Total
revenues for the six months ended June 30, 2013 increased compared to the same
period in 2012, primarily as a result of a higher level of realized gains on
investments.

American National Insurance Company
COMPARATIVE OPERATIONAL HIGHLIGHTS
Compiled on a GAAP basis (Preliminary & Unaudited)*
                                                          
              Quarters Ended                Six Months Ended
              June 30,                      June 30,
              2013           2012           2013             2012
                                                          
Revenues      $773,660,000 $730,962,000 $1,518,705,000 $1,473,637,000
After-tax                                                  
earnings:
Operating      $29,871,000  $17,335,000  $78,823,000    $58,020,000
earnings**
Net realized
investment     28,298,000    3,171,000     39,317,000      7,702,000
gains
Net income     58,169,000    20,506,000    118,140,000     65,722,000
                                                          
Per share                                                  
earnings:
Operating
earnings –     $1.11        $0.64        $2.93          $2.16
Diluted **
Net realized
investment     1.05          0.12          1.46            0.29
gains –
Diluted
Net income –   2.16          0.76          4.39            2.45
Diluted
                                                          
Weighted
average number
of sharesupon                                             
which
computations
are based:
Diluted       26,901,347    26,854,595    26,894,798      26,848,258
Basic          26,779,969    26,685,128    26,777,029      26,675,405
                                                          
                                                          
                            As of                           
                            June 30, 2013  December 31,     
                                             2013
                                                          
Book value per               $145.74        $142.49          
diluted share
                                                          
*Results are preliminary and unaudited. American National expects to timely
file its second quarter 2013 Form 10-Q.
**Operating earnings exclude after-tax realized investment gains and
losses.The sum of Operating earnings (losses) and Net realized investment
gains (losses) is equal to Net income (loss).

American National Insurance Company (American National), 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.

American National is also a family of companies that has, on a consolidated
GAAP basis, $22.9 billion in assets, $19.0 billion in liabilities and $3.9
billion in stockholders' equity.The American National family of companies
offers a broad line of products and services, which include life insurance,
annuities, health insurance, credit insurance, pension products and property
and casualty insurance for personal lines, agribusiness, and targeted
commercial exposures.The American National family of companies operates in
all 50 states, and its major insurance subsidiaries include American National
Life Insurance Company of Texas, American National Life Insurance Company of
New York, American National Property and Casualty Company, Standard Life and
Accident Insurance Company, Farm Family Life Insurance Company, Farm Family
Casualty Insurance Company and United Farm Family Insurance Company.

For more information, including company news and investor relations
information, visit the company's web site at www.anico.com.

CONTACT: John J. Dunn, Jr. (409) 766-6063

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