American National Group Inc. (ANGI) reported a total revenue of $7.5 billion for the fiscal year ending December 31, 2025, a slight decrease from $7.52 billion in 2024. The company's net income attributable to common stockholders was $469.7 million, down from $729 million in the previous year. This decline in profitability is attributed to a significant drop in net premiums, which fell to $1.7 billion from $3.7 billion in 2024, primarily due to a more competitive market for Pension Risk Transfer (PRT) products. The company has decided to allocate more capital to retail annuity and funding agreement opportunities in response to these market conditions.
In terms of operational changes, ANGI underwent a significant merger with American Equity Investment Life Holding Company in May 2024, which has since been reflected in its financial statements. The merger has allowed ANGI to expand its annuity offerings, with gross annuity sales increasing to $19.5 billion in 2025 from $13.6 billion in 2024. This growth was driven by a full year of contributions from American Equity and the launch of new funding agreement programs. However, the company also faced challenges, including a decrease in PRT sales due to heightened competition.
The company’s total assets increased to $130.3 billion as of December 31, 2025, up from $121.2 billion in 2024, largely due to net annuity inflows. Investments rose to $90.5 billion, reflecting a strategic focus on higher-yielding investment strategies following the merger. ANGI's liquidity position remains strong, with total liquidity reported at $55.2 billion, which includes cash and cash equivalents of $11.7 billion.
Looking ahead, ANGI's management has indicated a cautious outlook, emphasizing the need to navigate a competitive landscape while continuing to optimize its investment portfolio. The company is also focused on maintaining compliance with regulatory requirements and managing its capital effectively to support growth opportunities. The ongoing integration of American Equity's operations is expected to play a crucial role in shaping ANGI's future performance, particularly in enhancing its annuity offerings and overall market presence.
About American National Group Inc.
American National Group Inc. is a diversified insurance company focused on securing financial futures through annuities, property and casualty, and life insurance services. With operations across the U.S. and Puerto Rico, it targets individuals and institutions seeking reliable financial protection. The company is enhancing its offerings through strategic mergers and partnerships, leveraging its relationship with Brookfield Wealth Solutions to access high-quality investment opportunities and improve risk management.
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