American National Insurance Company (ANICO) has been issuing insurance and annuity products from Galveston, Texas since 1905. Now a subsidiary of Brookfield Asset Management following a $5.1 billion acquisition in 2022, ANICO is actively expanding its annuity lineup while exiting life insurance. For buyers who want an A-rated carrier with a 120-year history, competitive MYGA rates, and a $2,000 minimum premium, ANICO is worth a close look.
American National (ANICO) at a Glance
| Detail | Information |
|---|---|
| Full Legal Name | American National Insurance Company |
| Ticker / Brand | ANICO |
| Founded | 1905 (Galveston, Texas) |
| Headquarters | One Moody Plaza, Galveston, Texas |
| Current Ownership | Brookfield Reinsurance Ltd. (subsidiary of Brookfield Asset Management) – acquired 2022 for $5.1 billion |
| AM Best Rating | A (Excellent) – affirmed November 2025; verify at ambest.com |
| Comdex Score | 75 |
| Primary Products | MYGA, FIA, SPIA |
| MYGA Minimum Premium | $2,000 |
| State Availability | All 50 states + Puerto Rico (NY via affiliated entity) |
American National’s Financial Strength and Background
ANICO was founded by William Lewis Moody Jr. in 1905 and remained under Moody family control for over a century. In 2022, Brookfield Asset Management acquired the company for $5.1 billion in one of the largest insurance acquisitions of that year. Brookfield is a Toronto-based global alternative asset manager with over $1 trillion in assets under management. Under Brookfield’s direction, ANICO is expanding aggressively into annuities and pension risk transfer while exiting the life insurance business entirely – applications for new life policies closed in May 2025.
AM Best rates ANICO at A (Excellent) with a Very Strong balance sheet assessment – affirmed November 2025. The Comdex composite score of 75 is above average but one notch below the A+ elite tier. This is a meaningful rating distinction: ANICO is a strong, well-capitalized insurer, but buyers who require A+ should compare against Midland National, North American, or Athene. Always verify the current AM Best rating at ambest.com before committing to a contract.
One notable consideration: ANICO is now investor-owned by Brookfield. Buyers who prefer mutual/ESOP ownership structures (like Penn Mutual or Sammons companies) should factor this in. That said, AM Best’s November 2025 affirmation reflects no concerns about solvency or claims-paying ability under Brookfield’s stewardship.
What Annuity Products Does American National Offer?
- Palladium MYG and Palladium MYG Max – MYGA available in 3 to 10-year terms. Minimum premium of just $2,000 – among the lowest in the MYGA market. Guaranteed minimum renewal rate of 2.55%. Current rates approximately 5.10%-5.52% for 6-10 year terms (rates subject to change).
- ANICO Strategy Indexed Annuity PLUS 7 and PLUS 10 – Fixed indexed annuities with up to 10% annual penalty-free withdrawals after year one. Optional income riders available. Multiple index crediting strategies.
- Palladium Single Premium Immediate Annuity (SPIA) – Multiple payout structures including life only, period certain, and joint life options. Competitive immediate payout rates.
American National Palladium MYGA Products and Current Rates
Live rates from AnnuityRateWatch · Rates updated April 13, 2026
| Product | Term | Rate (APY) | Min Premium | Last Rate Change | |
|---|---|---|---|---|---|
|
Palladium MYG Annuity 3
AM Best A |
3 Years | 4.75% | $250,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 3
AM Best A |
3 Years | 4.6% | $100,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 3
AM Best A |
3 Years | 4.5% | $5,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 5
AM Best A |
5 Years | 5.15% | $250,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 5
AM Best A |
5 Years | 5% | $100,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 5
AM Best A |
5 Years | 4.9% | $5,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 7
AM Best A |
7 Years | 5.25% | $250,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 7
AM Best A |
7 Years | 5.1% | $100,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 7
AM Best A |
7 Years | 5% | $5,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 10
AM Best A |
10 Years | 5.1% | $250,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 10
AM Best A |
10 Years | 4.95% | $100,000+ | Apr 1, 2026 | View Details → |
|
Palladium MYG Annuity 10
AM Best A |
10 Years | 4.85% | $5,000+ | Apr 1, 2026 | View Details → |
Rates apply to standard products. State availability varies. Not an offer or solicitation. Always verify current rates before purchasing.
Note: American National Insurance Company is not licensed directly in New York. NY residents are served through affiliated entities. Confirm state availability with a licensed agent before applying.
Who Is American National Best For?
- Buyers with smaller allocations – the $2,000 Palladium MYGA minimum is one of the lowest available for an A-rated carrier. This matters for buyers parceling out smaller accounts or testing a new carrier before committing larger amounts.
- Conservative accumulation buyers aged 55-75 who want a 120-year-old carrier with solid A-rated financial strength and competitive 6-10 year MYGA rates.
- SPIA income seekers who want a long-tenured, stable payer with multiple payout options.
- Independent agents serving diverse client needs – ANICO’s broad state availability (all 50 states and PR via affiliated entities) and low minimums make it accessible for clients across a wide range of premium amounts.
American National is not the best fit for clients who require A+ minimum financial strength, anyone seeking a life insurance product from the same carrier (ANICO exited life insurance in 2025), or buyers who prefer mutual/ESOP ownership over private equity-backed carriers.
American National Pros and Cons
Pros
- 120-year operating history with A (Excellent) AM Best rating
- $2,000 minimum premium on Palladium MYGA – lowest in class for an A-rated carrier
- 2.55% guaranteed minimum renewal rate – meaningful floor relative to many competitors
- Available in all 50 states + Puerto Rico
- Below-average NAIC complaint ratio
- Brookfield ownership brings $1 trillion+ asset management backing
Cons
- A rating, not A+ – one notch below top-tier competitors like Midland National or North American
- Comdex score of 75 vs. 89-91 for top-tier carriers
- Owned by Brookfield (private equity/alternative asset manager) – introduces investor return objectives that may influence future product design
- Life insurance business discontinued May 2025 – no single-carrier life + annuity solution available
- FIA lineup narrower than Midland National or North American
- NY availability via affiliated entity only
Frequently Asked Questions About American National
Is ANICO still a good company after the Brookfield acquisition?
AM Best affirmed ANICO’s A (Excellent) rating in November 2025 – over three years after the Brookfield acquisition closed – with a Very Strong balance sheet assessment. The rating reflects no concerns about claims-paying ability. The main consideration for buyers is ownership philosophy: Brookfield is an institutional asset manager with return objectives, unlike a mutual or ESOP-owned carrier. Verify current ratings at ambest.com and review Brookfield’s track record at brookfield.com.
What is the minimum I can invest in an ANICO MYGA?
The Palladium MYG MYGA accepts a minimum premium of $2,000 – one of the lowest minimums for any A-rated MYGA carrier. Available in 3 to 10-year terms. The guaranteed minimum renewal rate is 2.55%. Use our live rate comparison tool to see ANICO’s current Palladium rates alongside competing carriers.
How do I buy an American National annuity?
ANICO annuities are sold through licensed independent insurance agents. My Annuity Store can compare American National against 20+ carriers – including A+ alternatives – so you can evaluate the rate premium vs. rating trade-off. Request a free quote or call 855-583-1104.
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