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American National Announces Third Quarter 2007 Results
Date:10/22/2007

GALVESTON, Texas, Oct. 22 /PRNewswire-FirstCall/ -- American National Insurance Company (Nasdaq: ANAT) announced third quarter 2007 net income of $79,244,000 ($2.98 per diluted share) compared to $54,802,000 ($2.06 per diluted share) for the same period in 2006.

After tax operating earnings for the third quarter were $57,095,000 ($2.15 per diluted share) compared with $50,401,000 ($1.89 per diluted share) for the same period in 2006, a 13.3% increase. After tax operating earnings exclude after tax net realized investment gains and losses.

After tax net realized investment gains were $22,149,000 ($0.83 per diluted share) for the third quarter of 2007 compared with $4,401,000 ($0.17 per diluted share) for the same period in 2006.

YEAR-TO-DATE RESULTS

Net income for the nine months ended September 30, 2007 totaled $187,440,000 ($7.04 per diluted share) compared to $162,367,000 ($6.10 per diluted share) for the first three quarters of 2006. The after tax operating earnings for the first nine months totaled $161,801,000 ($6.08 per diluted share) compared to $134,306,000 ($5.05 per diluted share) for the same period in 2006. After tax operating earnings exclude after tax net realized investment gains and losses, which totaled a net realized gain of $25,639,000 ($0.96 per diluted share) for the first nine months of 2007 compared to a net realized gain of $28,061,000 ($1.05 per share) in the same period of 2006.

OPERATIONS

American National continues to experience growth in several key measures. Total revenue through September 30, 2007 increased 3.2% to $2,343,588,000, compared with $2,270,324,000 reported for the first nine months of 2006. Assets as of September 30, 2007 totaled $18,469,225,000, an increase of 3.0% from year-end 2006. Stockholders' equity as of September 30, 2007 increased 4.4% from December 31, 2006 to a total of $3,731,685,000 ($140.11 per diluted share).

The first nine months of 2007 have seen an increase in life insurance and annuity sales. Policyholder deposits on interest-sensitive products, both life insurance and annuities, totaled $944,100,000 for the three quarters ended September 30, 2007, an increase of 15.9% from the same period in 2006. Earned premium from life insurance and annuities for the first nine months of 2007 increased 33.6% from the same period in 2006, to a total of $423,364,000.

American National Insurance Company

COMPARATIVE OPERATIONAL HIGHLIGHTS

Compiled on a GAAP basis (Unaudited)

Quarter Ended Nine months Ended

September 30, September 30,

2007 2006 2007 2006

Revenues $774,201,000 $762,410,000 $2,343,588,000 $2,270,324,000

After-tax

earnings:

Operating

earnings * $57,095,000 $50,401,000 $161,801,000 $134,306,000

Net

realized

investment

gains $22,149,000 $4,401,000 $25,639,000 $28,061,000

Net income $79,244,000 $54,802,000 $187,440,000 $162,367,000

Per share

earnings:

Operating

earnings * $2.15 $1.89 $6.08 $5.05

Net realized

investment

gains $0.83 $0.17 $0.96 $1.05

Net income

-- Diluted $2.98 $2.06 $7.04 $6.10

Net income

-- Basic $2.99 $2.07 $7.08 $6.13

Weighted average

number of shares

Upon which

computations

are based:

Diluted 26,633,488 26,609,329 26,633,488 26,609,329

Basic 26,479,832 26,479,832 26,479,832 26,479,832

As of

September 30, 2007 December 31, 2006

Book value per

diluted share $ 140.11 $ 134.36

* Operating earnings exclude after-tax realized investment gains and

losses. The sum of Operating earnings and Realized investment gains

(losses) is equal to Net income.

American National Insurance Company is headquartered in Galveston, Texas. American National has over $18.4 billion in assets and is rated A+ (Superior) by A.M. Best Company, and AA (Very Strong) by Standard & Poor's. The American National family of companies offers a broad line of products and services, which include life insurance, annuities, health insurance, credit insurance, pension plan services and property and casualty insurance for personal lines, agribusiness, and targeted commercial exposures. American National's major insurance subsidiaries include American National Life Insurance Company of Texas, Standard Life and Accident Insurance Company, Garden State Life Insurance Company, American National Property and Casualty Company, Farm Family Life Insurance Company, Farm Family Casualty Insurance Company, United Farm Family Insurance Company and American National de Mexico, Compania de Seguros de Vida, S.A. de C.V.

For more information, including company news and investor relations information, visit the company's web site at http://www.anico.com.

The statements contained in this release that are not historical statements, including statements regarding future performance, plans and projections, are forward-looking statements based on management's current expectations. These statements involve certain risks and uncertainties detailed in the Company's financial statements. Actual results may differ materially from these statements due to changes in business, regulatory, competitive, market, economic, and political factors that are beyond our control. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.


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SOURCE American National Insurance Company
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