American National Insurance Stops Writing New Life Policies

American National Insurance Co. has decided to cease writing new life insurance policies to concentrate on expanding their annuity and property & casualty insurance products. The decision, confirmed by senior vice president Scott Campbell, includes an application cutoff on May 31, 2025, with business placements due by July 31, 2025. Despite this shift, American National assures that they will continue to service their current life insurance policyholders without interruption.

Sheryl Moore, an industry insider, remarks that the move is not surprising, especially following the acquisition of American National by Brookfield Reinsurance, which has a preference for focusing on indexed annuities. With a relatively small market share in the life insurance sector, American National aims to redirect its efforts toward more lucrative areas of insurance, particularly as indexed annuities gain popularity.