Quick Answer: Is American National a Good Annuity Company?
American National Insurance Company is a solid, A-rated carrier with a 115-year history that regularly appears in top MYGA rate comparisons – it is a dependable choice for buyers seeking competitive guaranteed rates from a financially stable insurer, particularly for 3 and 5-year terms.
Last updated: March 2026 | Reviewed by: Elizabeth Prescott, AnnuityJournal Editorial Team
Company Overview
American National Insurance Company (ANICO) was founded in 1905 in Galveston, Texas and remains headquartered there today. It is one of the few major U.S. insurance companies still based outside of a major financial center. In 2022, Brookfield Asset Management completed its acquisition of American National, bringing the carrier under the umbrella of a global alternative asset manager with over $850 billion in assets under management – a significant capital backing for policyholders.
American National operates through multiple subsidiaries and distributes annuity products primarily through independent insurance agents nationwide.
| Metric | Detail |
|---|---|
| Headquarters | Galveston, Texas |
| Founded | 1905 |
| Parent Company | Brookfield Asset Management (since 2022) |
| Total Assets | $30+ billion |
| AM Best Rating | A (Excellent) |
| S&P Rating | A+ (Strong) |
| Distribution | Independent insurance agents |
Financial Strength Ratings
| Rating Agency | Rating | Meaning |
|---|---|---|
| AM Best | A (Excellent) | Third-highest possible |
| S&P Global | A+ (Strong) | Fifth-highest possible |
| Moody’s | A1 (Good) | Fifth-highest possible |
American National’s ratings are solid and above the A- minimum threshold most advisors require. Like Lincoln Financial, they sit one notch below the A+ AM Best tier – a real but manageable distinction. Brookfield’s $850B+ AUM backing provides additional financial depth beyond what the ANICO balance sheet alone shows.
American National Annuity Products
MYGAs (Multi-Year Guaranteed Annuities)
American National’s Palladium MYG Annuity series is its primary MYGA product line and the main reason buyers seek out ANICO. The Palladium regularly appears in the top 5-10 MYGA rates for 3 and 5-year terms. Minimum premium is typically $10,000, and the product is available in both qualified and non-qualified versions.
One notable feature: American National offers competitive rates at premium tiers – buyers with $100,000+ sometimes receive rate bumps compared to the base rate. Ask your agent about tiered rate schedules when comparing. Current rates are available on our Best MYGA Rates page.
Fixed Indexed Annuities (FIAs)
American National offers FIA products including the Palladium FIA series with S&P 500 and multi-index crediting options. Annual point-to-point strategies with cap rates are standard. Income rider options are available for buyers planning future guaranteed income withdrawals. American National is not the primary destination for FIA income-rider strategies – carriers like Allianz and Lincoln Financial offer more competitive rider terms in most comparisons.
SPIAs
American National offers single premium immediate annuities. Their SPIA rates are competitive and worth including in a multi-carrier comparison, particularly for buyers already considering American National for MYGA accumulation who want to transition to income at maturity.
Pros and Cons
| Pros | Cons |
|---|---|
| Consistently competitive MYGA rates, especially 3 and 5-year | AM Best rating is A, not A+ – one notch below top tier |
| Brookfield backing adds substantial capital depth | Brookfield acquisition (2022) is relatively recent – some buyers prefer longer ownership continuity |
| 115-year operating history in Texas | Smaller asset base ($30B) vs. larger carriers |
| Tiered rate premiums for larger deposits | FIA lineup not a primary strength vs. specialists |
| Available through broad independent agent network | Digital tools and online customer access below average |
Who Is American National Best For?
- Buyers specifically shopping MYGA rates who want to compare a consistent top-10 performer
- Buyers with $100,000+ who may qualify for tiered rate bumps
- Retirees who value the Texas regulatory environment and ANICO’s long Galveston-based history
- Buyers who are comfortable with Brookfield’s ownership and want the capital backing of a global alternative asset manager
How to Buy an American National Annuity
American National annuities are sold exclusively through licensed independent insurance agents – not directly to consumers. To purchase:
- Work with an independent annuity agent who carries ANICO products
- Request a current Palladium MYG rate sheet for your target term and premium amount
- Ask specifically about tiered rates if your deposit is $100,000 or more
- Compare against Protective Life, Athene, and North American for the same term
Customer service: 800-899-6803 | anico.com
Frequently Asked Questions
Who owns American National Insurance Company?
As of 2022, American National is owned by Brookfield Asset Management, a global alternative investment firm with over $850 billion in assets under management. Before the acquisition, ANICO was controlled by the Moody family for most of its history.
What is American National’s AM Best rating?
American National Insurance Company holds an A (Excellent) rating from AM Best and A+ from S&P Global. This is one notch below A+ AM Best carriers but still well within the financially strong range most advisors recommend.
Does American National offer tiered MYGA rates?
Yes. American National’s Palladium MYGA products often carry tiered rate schedules – buyers depositing $100,000 or more may receive a higher declared rate than buyers at the minimum premium threshold. Ask your agent to provide rate quotes at your specific premium level.
Is American National a good choice for a MYGA?
Yes, consistently. The Palladium MYG Annuity regularly appears in the top 5-10 MYGA rates for 3 and 5-year terms. For buyers willing to accept an A-rated (not A+) carrier in exchange for potentially higher rates or premium tier advantages, American National is a legitimate consideration alongside Protective Life and Athene.
Sources & Citations
- AM Best, AM Best Financial Strength Ratings – A (Excellent) rating for American National Insurance Company
- American National Insurance Company, About American National – company history, Brookfield acquisition, and corporate overview
- NAIC, NAIC Consumer Information – complaint ratio and market conduct data for American National Insurance Company
