American National to exit the life insurance business
April 2, 2025 by John Hilton
Longtime life insurance insider Sheryl Moore is not surprised by the life insurance exit.
“I think the writing was on the wall when American National was acquired by Brookfield Reinsurance,” she said. “The triumvirate of an insurer/reinsurer/asset manager prefers to focus on indexed annuities.”
In May 2022, Brookfield Reinsurance completed the acquisition of American National Group, Inc., the parent company of American National Insurance Co., in an all-cash transaction valued at approximately $5.1 bill
American National’s market share on the life side is small, Moore said, citing data from Wink’s Sales & Market Report, fourth quarter 2024. The insurer held a 1.68% share of the $3.4 billion non-variable universal life market. American National also held a 0.63% share of the $4.3 billion whole life market and a 0.9% share of the $2.4 billion term life market, said Moore, CEO of Wink and Moore Market Intelligence.
