American National exits P&C, narrows loss to $7M as PRT sales plunge 83%

Filed May 14, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 15, 2025 · ~1 min read

Key Changes

• high

  Property & Casualty segment discontinued during 2025, eliminating $64M in quarterly operating earnings. Company now operates two segments: Annuities and Life Insurance.

  MD&A: Segment Overview verify on EDGAR →
• high

  Net loss improved from $236M to $7M year-over-year, driven by favorable equity market and interest rate movements reducing derivative valuation expenses.

  MD&A: Financial Results verify on EDGAR →
• high

  Pension Risk Transfer sales collapsed 83% to $64M from $382M, attributed to a smaller PRT market in 2026. Fixed rate annuity sales rose 32% to partially offset.

  MD&A: Annuity Sales verify on EDGAR →