ANG Q3 2024: GAAP net loss $299M on non-operating items; distributable operating earnings $360M, +157% YoY

American National Group Inc.

GAAP net loss attributable to common stockholders $299M vs $54M income in Q3 2023, driven by investment losses and mark-to-market impacts.
Distributable operating earnings (non-GAAP) rose 157% YoY to $360M, led by annuity segment pre-tax earnings of $404M.
Total assets surged to $123.7B from $34.9B a year ago, reflecting the May 2024 acquisition of American Equity Life.
Annuity gross sales $4.13B in Q3, up 159% YoY; trailing twelve-month net investment spread 1.8%.
Corporate & Other pre-tax operating loss $51M; P&C segment swung to $27M operating profit.

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