American national announces third quarter 2020 results

Galveston, tx., nov. 02, 2020 (globe newswire) -- american national group, inc. (nasdaq: anat) (formerly american national insurance company)(1) and subsidiaries (collectively, the “company”) announced net income for the third quarter of 2020 of $171.1 million or $6.36 per diluted share, compared to $92.2 million or $3.43 per diluted share for the same period in 2019. the increase in net income for the third quarter of 2020 was primarily attributable to an increase in after-tax net gain on equity securities due to favorable equity market conditions. this increase was partially offset by a reduction in net realized investment earnings due to fewer sales of real estate related assets in the third quarter of 2020. after-tax net gains on equity securities for the third quarter of 2020 were $120.1 million or $4.47 per diluted share compared to $6.8 million or $0.25 per diluted share for the same period in 2019. after-tax net realized investment earnings for the third quarter of 2020 were $23.6 million or $0.88 per diluted share, compared to $47.1 million or $1.75 per diluted share during the same period in 2019.
ANAT Ratings Summary
ANAT Quant Ranking