At a Glance
American National is one of the oldest names in American insurance — a Galveston, Texas institution founded in 1905 by W.L. Moody Jr. and run under Moody-family influence for the better part of a century. Today it is something quite different, and more interesting for annuity buyers: since its 2022 acquisition by Brookfield, American National has been repositioned as an annuity-focused carrier, and in 2025 it discontinued new life insurance products entirely to concentrate on the annuity business. It carries an A (Excellent) financial strength rating from AM Best, affirmed November 2025 with a stable outlook. Our live rate index currently quotes 15 American National products.
Which American National Product Fits Which Buyer
American National's lineup spans the three big annuity jobs. The hub's product list carries the full live roster; here is how to think about the families:
- Palladium MYG family (MYGA) — a locked, guaranteed rate for a chosen multi-year term. The right pick for maturing-CD money and safety-first accumulation. Compare its rate against the whole market before buying — a big carrier's MYGA is not automatically the top rate.
- ASIA PLUS series (fixed indexed) — index-linked crediting with principal protection, and optional lifetime-income riders for those planning future income. This is the family where reading the current cap and participation terms — and the rider fee, if you add one — matters most.
- Immediate and deferred income options — converts a lump sum into guaranteed income now or at a chosen future date. Get a live quote for your exact premium, age, and state; income pricing changes too often for any review to print.
The 2025 Transformation
Most reviews of American National describe the company it used to be: a diversified, family-rooted, multi-line insurer selling everything from life insurance to farm coverage. That company no longer exists in quite that form, and an annuity buyer in 2026 should understand what replaced it.
Brookfield — one of the world's largest alternative asset managers — acquired American National in 2022 and folded it into its wealth-solutions arm. Since then the strategic direction has been unambiguous: American National exited new life insurance sales during 2025 and now writes annuities as its core business. AM Best's November 2025 affirmation explicitly cites the group's very strong balance sheet and its strategic repositioning toward annuity writing.
Brookfield ownership places American National in the asset-manager-owned insurer category rather than the traditional mutual-company category. The annuity obligation still belongs to American National, and the relevant current evidence is AM Best's A rating with a stable outlook—not an assumption that the parent guarantees every contract or that its investment model produces a superior rate. Buyers who prefer a mutual structure should recognize that this is no longer one.
The Verdict
American National combines an A (Excellent) rating, affirmed in November 2025 with a stable outlook, with the Palladium MYG fixed-rate family and the ASIA PLUS indexed family with optional income features. That makes it relevant to buyers comparing more than one annuity job under the same issuer. The ownership decision is specific: Brookfield has owned the company since 2022, and American National exited new life-insurance sales during 2025 to focus on annuities. Buyers who prefer a traditional mutual structure, or whose live quote loses to a like-for-like alternative, have a clear reason to choose elsewhere.
Best For
Buyers comparing across the full annuity menu — guaranteed rates, indexed accumulation, or lifetime income — who value an A (Excellent) rating and a carrier for whom annuities are now the entire business, and who may want the option of an income rider that pure rate-specialists don't offer.
Watch-outs
- The ownership model is a feature and a question. Brookfield owns American National, but the annuity remains the issuing insurer's obligation; parent-company scale is not a substitute for the insurer's A rating or the contract.
- Product menu depth means complexity. Palladium MYG and ASIA PLUS solve different jobs. ASIA PLUS requires the buyer to compare its current crediting terms and any optional income-rider cost; Palladium MYG requires a term-matched fixed-rate comparison.
- The 2025 business change is recent. The carrier stopped new life-insurance sales during 2025. Existing obligations continue, but an annuity buyer should evaluate the company as the Brookfield-owned, annuity-focused insurer it is now—not the diversified company it used to be.
Rates
We don't print rates in reviews — they'd be stale before the month ended. Check the live American National product pages for current figures, or run the rate report to see where each product stands in today's full market for your premium, term, and state.
Company Facts
| Item | Detail |
|---|---|
| Founded | 1905, Galveston, TX |
| Ownership | Brookfield (wealth solutions arm), acquired 2022 |
| Business focus | Annuities (new life insurance discontinued during 2025) |
| AM Best rating | A (Excellent) FSR / a ICR, affirmed November 21, 2025, stable outlook |
| Assets | $40B+ combined with NY affiliate, as of Dec 31, 2025 |
| NAIC code | — |
| Licensed | — |
Guarantees are backed by the claims-paying ability of the issuing company; annuities are not FDIC-insured.
Pros
- A (Excellent) rating, freshly affirmed — November 2025, stable outlook, with AM Best citing very strong balance-sheet strength.
- Annuities are now the whole business — product investment, pricing attention, and strategic focus all point at the products you're buying.
- Full-menu breadth — MYGA terms, indexed accumulation with optional income riders, and immediate income under one A-rated roof.
- Ownership is disclosed without becoming a guarantee — Brookfield provides ownership and investment-management context; the American National issuing company, not Brookfield, owes the annuity benefits.
- A century of operating history — 120 years through every rate environment since 1905.
Cons
- Not the traditional mutual profile — the asset-manager ownership model is a considered trade-off, not a free upgrade.
- Rarely the single top rate — specialists and smaller carriers frequently out-rate large full-menu carriers on pure MYGA yield.
- FIA complexity — the flexibility of the indexed lineup comes with terms that demand careful comparison at purchase and at renewal.
Conclusion
American National’s current case is its November 2025 A rating and stable outlook, its annuity-only new-business focus, and named choices such as Palladium MYG and ASIA PLUS. Its main structural question is Brookfield ownership rather than the former Moody-family model. Compare the exact fixed-rate or indexed contract against the same product type elsewhere; the carrier name and broad menu do not establish that a particular quote is best.