American National Insurance Company Commences Participation in BCG’s Monthly Annuity Buyout Pricing Survey
BRAINTREE, MA, December 20, 2022 — American National Insurance Company (“American National”) is now participating in BCG’s monthly annuity buyout pricing survey, effective this month. American National entered the US Pension Risk Transfer (“PRT”) market in December of this year.
American National writes a broad array of insurance products and services and operates in all 50 states. Founded in 1905 and headquartered in Galveston, Texas, the company has been rated A or higher by A.M. Best for more than 75 years.
Earlier this year, American National was acquired by Brookfield Reinsurance. The company intends to leverage Brookfield Reinsurance’s PRT experience through its leading PRT business in Canada, Brookfield Annuity Company, to support its growth in the US PRT market. American National looks to build on over 117 years of providing reliable coverage to clients when they need it the most and building on a dedication to strong financial stability and growth with a long-term focus.
In total, there are 19 PRT insurers currently active in the market, with eleven new entrants since 2014 that remain in the market. Of the 19 insurers, 15 are now participating in BCG’s monthly pricing survey. Other participating insurers include Athene, Corebridge Financial, Fidelity & Guaranty, Legal & General, MassMutual, MetLife, Midland National, Mutual of Omaha, OneAmerica, Pacific Life, Principal, Prudential, Securian Financial and Western & Southern.
BCG uses the rates gathered in its survey to measure and monitor annuity pricing for its clients via its PRT Analysis and Customized Buyout Price Monitoring (CBPM) services and also to compile the BCG PRT Index, which is the longest standing pension buyout index in the United States. The Index provides an easy comparison of annuity pricing to various important pension liability measures.
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BCG specializes in assisting defined benefit plan sponsors with managing the costs and risks associated with their pension plans. Since 1983, BCG has successfully helped over 2,500 organizations achieve their pension de-risking goals. Our clients range from publicly-traded companies, to privately held firms, and include healthcare, banks and not-for-profit organizations. BCG helps clients with the full range of pension de-risking strategies from liability driven investing approaches to partial or full pension risk transfer, including navigating the complex and lengthy process of plan termination. BCG frequently works in collaboration with financial advisors, consulting actuaries, institutional investment consultants, asset managers and law firms. BCG is headquartered in Braintree, MA with satellite offices across the US. Please visit our website at: www.bcgpension.com.
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