American National Insurance (ANAT) Issues Update to Operations

September 16, 2008 4:01 PM EDT

American National Insurance Company (Nasdaq: ANAT) reports that while the Galveston area, and, in particular, the City of Galveston, was hard hit by Hurricane Ike, American National Insurance Company operations are open in the League City and San Antonio offices. While our disaster recovery plan is being implemented, there will be some temporary limited operations in the life, annuity and health areas as staff is being relocated.

At this time, it is too early to estimate the financial impact of property and casualty claims from this event.

Our initial assessment of our home office building in Galveston indicates minimal damage and its reopening will be primarily dependent on the restoration of basic services, such as power, gas and other utilities, by the City of Galveston. We are monitoring this closely with city and power company officials so we can be ready to reopen as quickly as possible. In the meantime, staff is being relocated to our League City and San Antonio properties while our home office is closed. We also will utilize the offices in Springfield and Albany to handle overflow work.

American National Insurance Company, and its subsidiaries, operate primarily in the insurance industry. [SM]

Related Categories

Corporate News

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?