American National Group Q2 GAAP net income $198M, up 40% YoY; operating earnings down 9%

American National Group Inc.

GAAP net income $198M in Q2 2026 vs $141M in Q2 2025, up 40% YoY; Q1 2026 was -$7M.
Distributable operating earnings $291M, down 9% YoY from $320M; YTD $597M vs $661M, down 10%.
Total assets $131.7B at June 30, 2026, up 4% YoY; total equity $8.7B, down 15% YoY.
Annuity investment spread 1.7% for twelve months ended June 30, 2026; net investment income $1.289B in Q2, up 13% YoY.
Retail fixed index annuity sales $1.631B in Q2, down 35% YoY; total gross annuity sales $3.713B, down 13% YoY.

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