AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of American National Insurance Company and Subsidiaries

AM Best has maintained the under review with developing implications status for the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a+” (Excellent) of American National Insurance Company (ANICO) and its life/health subsidiaries, American National Life Insurance Company of Texas, American National Life Insurance Company of New York (Glenmont, NY) and Standard Life and Accident Insurance Company. These companies are referred to collectively as the American National Group. Concurrently, AM Best has maintained the under review with developing implications status for the FSR of A (Excellent) and the Long-Term ICR of “a” (Excellent) of Garden State Life Insurance Company.

Latest Aithority Insights : Orange Business Services And Cisco Partner On Accelerating All-digital Cloud Workspaces To Support Hybrid Working

In addition, AM Best has maintained the under review with developing implications status for the FSR of A (Excellent) and the Long-Term ICRs of “a+” (Excellent) of American National Property and Casualty Company (Springfield, MO), and its subsidiaries, American National General Insurance Company (Springfield, MO); ANPAC Louisiana Insurance Company (Baton Rouge, LA); American National Lloyds Insurance Company; Pacific Property and Casualty Company (Los Angeles, CA); and its affiliates, American National County Mutual Insurance Company, Farm Family Casualty Insurance Company and United Farm Family Insurance Company (both domiciled in Glenmont, NY). These entities are all considered part of American National Property & Casualty Group due to their strategic importance. These companies are property/casualty subsidiaries of ANICO, which is a subsidiary of American National Group, Inc. [NASDAQ: ANAT] (American National). All the above companies are headquartered in Galveston, TX, unless otherwise noted.

Browse The Complete News About Aithority: Vitria VIA AIOps 3.0 Reaffirms Commitment to Continued Improvement in Customer Assurance

The Credit Ratings (ratings) were placed under review in August of 2021 after the public announcement that American National had entered into a definitive merger agreement for its sale to Brookfield Asset Management Reinsurance Partners Ltd. in an all-cash transaction of approximately $5.1 billion. The transaction is expected to close in the second quarter of 2022. The ratings will remain under review with developing implications pending completion of the acquisition, and until AM Best can complete its assessment of American National’s post-acquisition rating fundamentals.

Read More About Aithority News : SAP Signavio Solutions Leverage Experience Data to Expand the Value of Business Process…

 [To share your insights with us, please write to sghosh@martechseries.com]