American National Announces First Quarter 2022 Results

GALVESTON, Texas, May 03, 2022 (GLOBE NEWSWIRE) -- American National Group, Inc. (NASDAQ: ANAT) and subsidiaries (collectively, the “Company”) announced net income for the first quarter of 2022 of $108.8 million or $4.05 per diluted share, compared to net income of $170.2 million or $6.33 per diluted share for the same period in 2021. The reduction in net income in the first quarter of 2022 was primarily due to an $83.3 million decrease in net gains on equity securities, partially offset by an increase in realized investment earnings of $20.4 million.