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 12 American National products.
The 2025 Transformation — What Nobody Tells You
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.
For a buyer, this cuts in two directions, and honesty requires stating both. In the favorable direction: an owner with enormous capital resources, an annuity-first strategy (your product line is now the flagship, not a side business), and rate competitiveness that reflects an asset manager's investment capabilities. In the cautionary direction: American National now belongs to the growing class of asset-manager-owned insurers, whose investment portfolios typically lean further into private credit and structured assets than traditional mutual insurers. Regulators and rating agencies watch this model closely; AM Best's A rating with a stable outlook says it is working. But if your personal preference is a century-old mutual that invests like a century-old mutual, that is no longer what American National is — and you should choose it, or not, knowing that.
The Verdict
American National earns a place on annuity shortlists as a large, highly rated, annuity-focused carrier with real breadth — multi-year guaranteed annuities, fixed indexed annuities with optional lifetime-income riders, and immediate income options — backed by Brookfield's capital. It suits buyers who want an A-rated carrier with a full product menu and competitive rates, and who are comfortable with the modern asset-manager ownership model. Buyers seeking either the absolute top MYGA rate from a lean specialist, or the traditional mutual-company profile, will find better fits 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's backing brings capital strength and annuity focus; it also means the investment strategy behind your guarantee is run by an asset manager, not a traditional mutual. The A rating and stable outlook are the evidence it's working — but this is a structural fact worth weighing, especially for very large placements.
- Product menu depth means complexity. The indexed products carry the usual FIA machinery — caps, participation rates, and optional rider fees that change the arithmetic. The buyer mapping below tells you which products need the most careful reading.
- Rate banding. Like most large carriers, quoted rates can vary by premium band; the rate you see advertised may assume a higher band than yours. The live product pages show band detail where the feed provides it.
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) — the CD-style job: 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) — the accumulation-with-upside job: 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 — the paycheck job: converting 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.
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.
- Deep-pocketed ownership — Brookfield's capital stands behind the balance sheet.
- 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 in 2026 is a 120-year-old company in its second act: Texas-rooted history, Brookfield capital, and an all-in commitment to annuities. That combination — scale, rating strength, and product breadth — makes it a legitimate default candidate for almost any annuity shortlist. The discipline it asks of you is the same one this site exists for: never assume the big name has the best number. Put it in the comparison, let the live rates decide, and if the winner is American National, you'll be buying it for reasons you can name.