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American National Announces Third Quarter 2013 Results



American National Announces Third Quarter 2013 Results

GALVESTON, Texas, Oct. 29, 2013 (GLOBE NEWSWIRE) -- American National
Insurance Company (Nasdaq:ANAT) announced third quarter 2013 net income of
$82,613,000 ($3.07 per diluted share) compared to net income of $59,186,000
($2.20 per diluted share) for the same period in 2012. A 7.0% increase in
operating earnings and higher realized investment gains both contributed to
the increase in net income.

Third quarter after tax operating income, which excludes after tax net
realized investment gains, increased to $54,349,000 ($2.02 per diluted share),
as compared with $50,782,000 ($1.89 per diluted share) for the same period in
2012. After tax net realized investment gains were $28,264,000 ($1.05 per
diluted share) for the third quarter of 2013 compared to $8,404,000 ($0.31 per
diluted share) for the third quarter of 2012.

Net income for the nine months ended September 30, 2013 was $200,753,000
($7.46 per diluted share), an increase from net income of $124,908,000 ($4.65
per diluted share) for the same period in 2012.

After-tax operating earnings for the first nine months of 2013, which exclude
after tax net realized investment gains, were $133,172,000 ($4.95 per diluted
share) compared to $108,802,000 ($4.05 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
$67,581,000 ($2.51 per diluted share) for the first nine months of 2013
compared with after tax net realized investment gains of $16,106,000 ($0.60
per diluted share) for the same period in 2012.

Recurring life insurance premiums on new issues were up 36.0% over the prior
year. Stockholders' Equity as of September 30, 2013 increased 4.8% from the
end of 2012 to $4.0 billion.  Book value per share was $149.15 at September
30, 2013 as compared to $142.63 per share at December 31, 2012. Total revenues
for the nine months ended September 30, 2013 increased 3.2% 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                Nine Months Ended
               September 30,                 September 30,
               2013           2012           2013             2012
                                                               
Revenues        $ 785,504,000  $ 760,068,000  $ 2,304,209,000  $ 2,233,705,000
After-tax                                                      
earnings:
Operating       $ 54,349,000   $ 50,782,000   $ 133,172,000    $ 108,802,000
earnings **
Net realized
investment      28,264,000     8,404,000      67,581,000       16,106,000
gains
Net income      82,613,000     59,186,000     200,753,000      124,908,000
                                                               
Per share                                                      
earnings:
Operating
earnings –      $ 2.02         $ 1.89         $ 4.95           $ 4.05
Diluted **
Net realized
investment      1.05           0.31           2.51             0.60
gains –
Diluted
Net income –    3.07           2.20           7.46             4.65
Diluted
                                                               
Weighted
average number
of shares upon                                                 
which
computations
are based:
Diluted         26,905,093     26,870,655     26,910,017       26,859,100
Basic           26,780,313     26,736,464     26,789,564       26,699,211
                                                               
                                                               
                              As of                            
                              September 30,  December 31,      
                              2013           2012
                                                               
Book value per                 $ 149.15       $ 142.63         
diluted share
                                                               
                                                               
* Results are preliminary and unaudited. American National expects to timely
file its third 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, $23.1 billion in assets, $19.1 billion in liabilities and $4.0
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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