Is American National a good annuity company?
Yes, for buyers who are comfortable with its ownership. American National Insurance Company, known as ANICO, holds an A (Excellent) rating from AM Best, affirmed in November 2025 with a very strong balance sheet assessment, more than three years after Brookfield Asset Management bought the company for $5.1 billion. ANICO has been issuing policies out of Galveston, Texas since 1905, and it is now doubling down on annuities while winding down its life insurance line. A rated one notch below the A+ elite tier, a $2,000 MYGA minimum that is unusually low for a top-rated carrier, and Brookfield's institutional backing make ANICO worth a look for MYGA and income annuity buyers who do not require an A+ or a mutual company structure.
American National at a glance
| Legal name | American National Insurance Company |
|---|---|
| Brand | ANICO |
| Founded | 1905, Galveston, Texas |
| Headquarters | Galveston, Texas |
| Current ownership | Brookfield Reinsurance Ltd., acquired 2022 for $5.1 billion |
| AM Best rating | A (Excellent), affirmed November 2025 |
| What it sells | MYGAs, fixed index annuities, and immediate annuities |
| MYGA minimum premium | $2,000 |
| States available | All 50 states plus Puerto Rico; New York served through an affiliate |
Where American National sits on the AM Best scale
A is grade 3 of 13. Most buyers look for A- or better for a long-term contract.
- A++
- A+
- AAmerican National
- A-
- B++
- B+
- B
- B-
- C++
- C+
- C
- C-
- D
Today's rates for American National
Rates change often and vary by state, term and deposit size. Get today's numbers for your state, side by side with other top-rated carriers. Free, with no obligation.
American National Insurance Company, universally known by its ANICO brand, has been writing policies out of Galveston, Texas since 1905. William Lewis Moody Jr. founded it, and his family controlled it for more than a century before Brookfield Asset Management bought the company in 2022. Under Brookfield, ANICO is pushing harder into annuities and pension risk transfer business while stepping back from life insurance entirely. For buyers who want a carrier with more than a century of history, a solid rating and a genuinely low MYGA minimum, ANICO deserves a look.
American National's financial strength and background
Brookfield paid $5.1 billion for ANICO in 2022, one of the larger insurance acquisitions of that year, bringing the resources of a global alternative asset manager with well over $1 trillion under management behind the carrier's balance sheet. Since the deal closed, ANICO has leaned into annuity growth and has been winding down its life insurance business, closing new life policy applications in May 2025.
| Rating agency | Rating | What it means | Outlook |
|---|---|---|---|
| AM Best | A | Excellent | Stable, affirmed November 2025 |
| S&P Global | Not rated | ||
| Moody's | Not rated | ||
| Fitch | Not rated |
AM Best rates ANICO A, its Excellent tier, with a very strong balance sheet assessment as of the November 2025 affirmation. That places American National a step below the A+ (Superior) carriers, so buyers who insist on A+ or better should stack it against Midland National or North American before deciding.
A rating tells you how likely a company is to pay what it owes. It does not tell you whether a particular contract fits your plan.
One more thing worth naming plainly: ANICO now answers to Brookfield, an investor-owned asset manager, rather than a family, a mutual structure or an employee ownership plan. That is a real shift for anyone who specifically prefers carriers like Penn Mutual or the Sammons family of companies. It has not shown up as a solvency concern in AM Best's own reviews, but it is a fair thing to weigh alongside the letter grade. Always verify the current rating directly with AM Best before funding a contract.
What annuities does American National sell?
- Palladium MYG and Palladium MYG Max. Multi-year guaranteed annuities in terms from 3 to 10 years, with a minimum premium of just $2,000, unusually low for a carrier at this rating level, and a 2.55% guaranteed minimum renewal rate that sets a floor once your locked-in term ends.
- ANICO Strategy Indexed Annuity Plus 7 and Plus 10. Fixed index annuities offering up to 10% penalty-free withdrawals a year after the first contract year, a choice of index crediting strategies, and optional income riders.
- Palladium single premium immediate annuity. An income annuity with several payout structures, including life-only, period-certain and joint-life options.
Current crediting rates move with the market, so we are not printing them here. Pull up the quote box on this page for what American National and comparable carriers are offering today, including New York availability, which runs through an affiliated ANICO entity rather than the parent company directly.
Who is American National best for?
- Buyers with a smaller amount to place. The $2,000 Palladium minimum is among the lowest you will find at a top-rated carrier, which helps if you are splitting money across carriers or testing one out before committing more.
- Conservative savers in their late 50s through mid-70s who want a carrier with over a century of history and competitive 6 to 10 year MYGA terms.
- Income annuity shoppers who want a long-established payer with several payout structures to choose from.
- Independent agents with a range of client budgets, since ANICO's broad state footprint and low minimums make it workable across a wide span of premium sizes.
American National is a weaker fit if you require an A+ minimum, if you wanted to pair a life insurance policy with the annuity from the same carrier, or if you specifically prefer a mutual or employee-owned company over one backed by private capital.
Other annuity companies to consider
Before settling on American National, it is worth pricing these carriers too:
- Midland National: A+ rated, with a broad MYGA and index annuity lineup
- North American: another A+ carrier with strong distribution
- Gainbridge: a direct-to-consumer MYGA option worth a side-by-side comparison
Pros and cons
Pros
- A (Excellent) rating from AM Best, affirmed in November 2025
- More than 120 years of continuous operating history
- $2,000 minimum premium on its Palladium MYGA, one of the lowest among top-rated carriers
- 2.55% guaranteed minimum renewal rate, a real floor once your initial term ends
- Sold in all 50 states plus Puerto Rico
- Below-average complaint history with state insurance regulators
- Backed by Brookfield's large, well-capitalized asset management platform
Cons
- A sits one notch below the A+ tier some competitors carry
- Now owned by an institutional asset manager rather than a mutual company or ESOP
- Exited new life insurance sales in May 2025, so you cannot pair a life policy with the annuity from the same carrier going forward
- Fixed index annuity lineup is narrower than some larger competitors
- New York residents are served only through an affiliated entity, not ANICO directly
Frequently asked questions
Is ANICO still a solid choice after the Brookfield deal?
AM Best's answer, in effect, is yes. Three-plus years into Brookfield's ownership, the agency's November 2025 review kept ANICO at A (Excellent) and described the balance sheet as very strong, with nothing flagged about its ability to pay claims. What is genuinely different is ownership philosophy. Brookfield is an institutional asset manager focused on returns, which is not the same model as a mutual or employee-owned carrier, even though the rating itself has held up fine. Confirm the current rating on AM Best's site before you rely on it.
How little can I put into an ANICO MYGA?
As little as $2,000, which is one of the lowest minimums among A-rated MYGA carriers and available across 3 to 10-year terms. That contract also carries a 2.55% guaranteed minimum renewal rate, a real floor beneath whatever the declared rate happens to be later. Current crediting rates move with the market, so check the quote box on this page rather than an older figure.
What is the process for buying an American National annuity?
ANICO sells exclusively through licensed independent insurance agents, not directly to the public. We can put American National side by side with other top-rated carriers, including A+ options, so you can weigh the rate against the rating before you decide.
Written and reviewed by
James Forren Warren
Licensed Retirement Income Strategist · License #20551202
James Forren Warren is a licensed Retirement Income Strategist with Tax Free Wealth Plan. For the past five years he has helped individuals and families turn their savings into retirement income they can count on. He writes and reviews the annuity research on this site and keeps it plain: what a product does, what it costs you, and who it actually fits.
Sources
Educational only, not investment, tax or legal advice. Tax Free Wealth Plan LLC is a licensed insurance agency, not a registered investment adviser or broker-dealer. Annuities are not bank deposits, are not FDIC insured and are not guaranteed by any government agency. Guarantees are backed solely by the claims-paying ability of the issuing insurance company. Features, rates and availability vary by state and change over time; the contract and disclosure documents govern.
