American National Insurance (ANAT) Reports Q1 Earnings; Agrees to Sell Mexican Subsidiary
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American National Insurance Company (Nasdaq: ANAT) reports Q1 EPS of $1.46 compared to $1.85 per diluted share for the same period in 2007.
Total revenue for first quarter 2008 was $726,436,000, compared with the $747,671,000 total reported for the first quarter of 2007. Total assets increased 2% in the first quarter, reaching a total of $18,839,449,000.
Separately, American National has entered into an agreement to sell its Mexican subsidiary, American National de Mexico, Compania de Seguras de Vida S.A. de C.V. The sale is pending regulatory approvals and is expected to close sometime in the third quarter of 2008. The sale of this subsidiary is not expected to have a material impact on American National's 2008 results.[SM]
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