American National Insurance Company announces the merger of its two New York life insurance subsidiaries, American National Lif

American National Insurance Company announces the merger of its two New York
life insurance subsidiaries, American National Life Insurance Company of New
York and Farm Family Life Insurance Company; the newly merged company will be
known as American National Life Insurance Company of New York

GALVESTON, Texas, Jan. 10, 2018 (GLOBE NEWSWIRE) -- American National
Insurance Company announces that, effective January 1, 2018, American National
Life Insurance Company of New York merged into Farm Family Life Insurance
Company. Following the merger of these two subsidiaries, the surviving company
has assumed the name American National Life Insurance Company of New York. 

The merger of American National’s New York life insurance companies into a
single entity furthers American National’s commitment to promoting and
strengthening the American National brand while simplifying the corporate
structure and improving service to New York customers. 

A more simplified but powerful structure will allow American National to
better focus its efforts, improve speed to market and reduce expenses
associated with implementing products in multiple companies, resulting in
benefits to American National, as well as to agents and policyholders.

American National remains committed to our clients. As part of that
commitment, American National Life Insurance Company of New York will continue
to provide innovative insurance, annuity and pension products.

About American National
American National Insurance Company (American National), headquartered in
Galveston, Texas, was founded in 1905 and is licensed in all states except New
York. American National and its subsidiaries offer 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 certain commercial exposures. American
National companies operate in all 50 states.

American National Life Insurance Company of New York, whose home office is in
Glenmont, New York, is licensed to conduct the business of insurance in the
state of New York and twelve other states. American National Life Insurance
Company of New York offers a broad line of Life Insurance and Annuity products
and services, which include life insurance, annuities, credit insurance and
pension products to New York residents. 

Company Financials

The most recently published financial information on both companies is
available online via the following links:
American National Life Insurance Company of New York
Farm Family Life Insurance Company

Company Ratings

American National Life Insurance Company of New York has been evaluated and
assigned the following ratings by nationally recognized, independent rating
agencies. The ratings are current as of December 2017, based on 2016 financial
results.

A.M. Best^1              A
Standard & Poor’s^2      A

Ratings reflect current independent opinions of the financial capacity of an
insurance organization to meet the obligations of its insurance policies and
contracts in accordance with their terms. They are based on comprehensive
quantitative and qualitative evaluations of the company and its management
strategy. The rating agencies do not provide ratings as a recommendation to
purchase insurance or annuities. The ratings are not a warranty of an
insurer's current or future ability to meet its contractual obligations.

Ratings may be changed, suspended, or withdrawn at any time. For the most
current ratings access www.ambest.com and www.standardandpoors.com.

^1 A.M. Best’s active company rating scale is: A++ (Superior), A+ (Superior),
A (Excellent), A-
(Excellent), B++ (Good), B+ (Good), B (Fair), B- (Fair), C++ (Marginal), C+
(Marginal), C (Weak), C- (Weak) and D (Poor).
^2 Ratings from ‘AA’ to ‘CCC’ may be modified by the addition of a plus (+) or
minus (-) sign to show relative standing within the major rating categories.

For more information, including company news, investor relations information
and the full rating reports, visit the company’s web site at
www.AmericanNational.com

CONTACT: Jim Pozzi,
President and CEO
(409) 766-6002
AMERICAN NATIONAL
One Moody Plaza I Galveston, TX 77550

 

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