American National exits P&C and life insurance, posts $198M net income on annuities focus

Filed August 13, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 13, 2025 · ~2 min read

Key Changes

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  Completed P&C transfer to Brookfield affiliate Oct 2025 and terminated new life insurance sales Q2 2026, collapsing three-segment structure into single annuities-focused business. Management now allocates resources on consolidated basis only.

  MD&A: Segment Structure; Notes: Discontinued Operations verify on EDGAR →
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  Net income attributable to common stockholders rose 40.4% to $198.0M in Q2 2026 from $141M prior year, driven by favorable derivative fair value changes, higher net investment income, and lower policyholder benefits.

  MD&A: Net Income; XBRL Key Financials verify on EDGAR →
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  Distributable operating earnings (core performance metric) declined 9% to $291M in Q2 2026 from $320M prior year, primarily due to higher option costs and crediting rates, partially offset by increased net investment income.

  MD&A: Distributable Operating Earnings verify on EDGAR →