---
schema_version: "secwatch.filing_event.v1"
accession: "0001039828-23-000117"
form_type: "8-K"
ticker: "ANG-PD"
cik: "0001039828"
company_name: "American National Group Inc."
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T03:41:08.972168+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# American Equity Q2 net income $344M; non-GAAP op income $1.62; FIA sales $1.9B; private assets 25%

## Summary
- Net income $344.4M ($4.36/diluted) vs $752.4M ($8.06) YoY; non-GAAP operating income $127.6M ($1.62) flat per share YoY.
- Total sales $2.0B, FIA sales $1.9B up 95% sequentially; private assets now 24.9% of portfolio ($12B+).
- Investment spread 2.57% (down from 2.67% Q1); cost of money 1.85% (up 4bp); avg yield 4.42% (down 6bp).
- Merger with Brookfield Reinsurance valued at ~$4.3B expected to close H1 2024; capital return plan suspended.
- Cash at holdco $390M; excess capital at insurance sub >$600M; building cash position to $7-10B.

## SEC filing metadata
- accession: 0001039828-23-000117
- form_type: 8-K
- ticker: ANG-PD
- cik: 0001039828
- company_name: American National Group Inc.
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039828/000103982823000117/0001039828-23-000117-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039828/000103982823000117/ael-20230807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001039828-23-000117
- JSON: https://secwatch.observer/filing/0001039828-23-000117.json
- Plain text: https://secwatch.observer/filing/0001039828-23-000117.txt

## Key facts
- Earnings Releases
  American National Group Inc. reported the quarter ended June 30, 2023 results: net income $344.4 million, EPS $4.36 per diluted common share.
  - Period: the quarter ended June 30, 2023
  - Net income: $344.4 million
  - EPS: $4.36 per diluted common share
  - Result: reported results
  source text: Second quarter 2023 net income available to common stockholders of $344.4 million, or $4.36 per diluted common share compared to net income of $752.4 million, or $8.06 per diluted common share for second quarter 2022 restated for the adoption of Accounting Standards Update 2018-12 — more commonly known as Long Duration Targeted Improvements or LDTI.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039828/000103982823000117/0001039828-23-000117-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.