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v3.25.1

Schedule II - Condensed Financial Information of Registrant (Tables) | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Condensed Statements of Financial Position (Parent Company Only) |
Condensed Statements of Financial Position (Parent Company Only)
| December 31,
| 2024 |  | 2023
| (Dollars in millions)
Assets |  |  |
Equity securities | $ | 657 |  |  | $ | 903 |
Cash and cash equivalents | 315 |  |  | 304 |
Investments in subsidiaries | 13,184 |  |  | 6,081 |
Due from related party | 1,848 |  |  | — |
Other assets | 142 |  |  | 20 |
Total assets | $ | 16,146 |  |  | $ | 7,308 |
Liabilities |  |  |
Long-term debt | $ | 2,957 |  |  | $ | 1,499 |
Accounts payable and accrued liabilities | 12 |  |  | — |
Due to related party | 3,180 |  |  | — |
Other liabilities | 47 |  |  | 17 |
Total liabilities | 6,196 |  |  | 1,516 |
Equity |  |  |
Preferred stock, Series A | 389 |  |  | — |
Preferred stock, Series B | 296 |  |  | — |
Additional paid-in capital | 8,103 |  |  | 5,185 |
Accumulated other comprehensive income (loss), net of taxes | (118) |  |  | (109) |
Retained earnings | 1,280 |  |  | 716 |
Total equity | 9,950 |  |  | 5,792 |
Total liabilities and equity | $ | 16,146 |  |  | $ | 7,308 |
Condensed Statements of Comprehensive Income (Parent Company Only) |
Condensed Statements of Comprehensive Income (Parent Company Only)
| Successor |  |  | Predecessor
| Year Ended December 31, |  | Period From May 25 to December 31, |  |  | Period From January 1 to May 24,
| 2024 |  | 2023 |  | 2022 |  |  | 2022
| (Dollars in millions)
Net investment income | $ | 253 |  |  | $ | 23 |  |  | $ | 9 |  |  |  | $ | — |
Net gains on equity securities | (44) |  |  | 1 |  |  | — |  |  |  | — |
Operating expenses | (136) |  |  | (114) |  |  | (60) |  |  |  | (39) |
Interest expense | (240) |  |  | — |  |  | — |  |  |  | — |
Income tax benefit | 64 |  |  | 25 |  |  | 8 |  |  |  | 6 |
Income from subsidiaries, net of tax | 832 |  |  | 457 |  |  | 367 |  |  |  | 164 |
Net income attributable to American National Group Inc. stockholders | 729 |  |  | 392 |  |  | 324 |  |  |  | 131 |
Less: Preferred stock dividends | 33 |  |  | — |  |  | — |  |  |  | — |
Net income attributable to American National Group Inc. common stockholder | 696 |  |  | 392 |  |  | 324 |  |  |  | 131 |
Other comprehensive income (loss) from subsidiaries | 443 |  |  | 339 |  |  | (448) |  |  |  | (616) |
Total comprehensive income (loss) | $ | 1,172 |  |  | $ | 731 |  |  | $ | (124) |  |  |  | $ | (485) |
Condensed Statements of Cash Flows (Parent Company Only) |
Condensed Statements of Cash Flows (Parent Company Only)
| Successor |  |  | Predecessor
| Year Ended December 31, |  | Period From May 25 to December 31, |  |  | Period From January 1 to May 24,
| 2024 |  | 2023 |  | 2022 |  |  | 2022
| (Dollars in millions)
Operating activities: |  |  |  |  |  |  |  |
Net income | $ | 729 |  |  | $ | 392 |  |  | $ | 324 |  |  |  | $ | 131 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities |  |  |  |  |  |  |  |
Net gains on equity securities | 1 |  |  | (1) |  |  | — |  |  |  | — |
Deferred federal income tax expense (benefit) | 270 |  |  | (11) |  |  | — |  |  |  | (2) |
Equity in earnings of subsidiaries | (832) |  |  | (457) |  |  | (367) |  |  |  | (164) |
Dividends from subsidiaries | 257 |  |  | 557 |  |  | 641 |  |  |  | 47 |
Changes in: |  |  |  |  |  |  |  |
Changes in working capital | 23 |  |  | — |  |  | — |  |  |  | — |
Current tax receivable/payable | (323) |  |  | — |  |  | — |  |  |  | — |
Other, net | (34) |  |  | 2 |  |  | 2 |  |  |  | (38) |
Net cash provided by (used in) operating activities | 91 |  |  | 482 |  |  | 600 |  |  |  | (26) |
Investing activities: |  |  |  |  |  |  |  |
Investments in subsidiaries | (1,871) |  |  | (78) |  |  | — |  |  |  | — |
Change in short-term investments | — |  |  | 15 |  |  | (15) |  |  |  | — |
Net cash provided by (used in) investing activities | (1,871) |  |  | (63) |  |  | (15) |  |  |  | — |
Financing activities: |  |  |  |  |  |  |  |
Issuance of equity | — |  |  | — |  |  | 45 |  |  |  | — |
Borrowings from related parties | 1,300 |  |  | — |  |  | 5 |  |  |  | — |
Borrowings from external parties | 2,500 |  |  | — |  |  | 500 |  |  |  | — |
Repayment of borrowings to external parties | (1,900) |  |  | — |  |  | (507) |  |  |  | — |
Debt issuance costs | (4) |  |  | — |  |  | (5) |  |  |  | — |
Dividends to stockholders | (105) |  |  | (750) |  |  | — |  |  |  | (22) |
Net cash provided by (used in) financing activities | 1,791 |  |  | (750) |  |  | 38 |  |  |  | (22) |
Cash and cash equivalents |  |  |  |  |  |  |  |
Cash and cash equivalents, beginning of period | 304 |  |  | 635 |  |  | 12 |  |  |  | 60 |
Net change during the period | 11 |  |  | (331) |  |  | 623 |  |  |  | (48) |
Cash and cash equivalents, end of period | $ | 315 |  |  | $ | 304 |  |  | $ | 635 |  |  |  | $ | 12 |
Supplemental cash flow information |  |  |  |  |  |  |  |
Equity contribution and invested assets received | $ | — |  |  | $ | 2,130 |  |  | $ | — |  |  |  | $ | — |
Investment in subsidiaries contribution | — |  |  | (1,231) |  |  | — |  |  |  | — |

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