American National Insurance Company (ANICO) has integrated its two New York life insurance subsidiaries, American National Life Insurance Company of New York and Farm Family Life Insurance Company.
The integrated company will operate under the brand of American National Life Insurance Company of New York.
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The merger of the New York life insurance companies is part of the company’s plan to promote and boost the American National brand and simplify corporate structure.
American National said that the new structure will enable it to better focus on business and enhance speed to market.
The company also expects the move help it slash cost related with implementing products in multiple companies.
The new integrated company will continue to offer insurance, annuity and pension products to its customer base.
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By GlobalDataFounded in 1905, American National Insurance Company and its subsidiaries provide life insurance, annuities, health insurance, credit insurance, pension products, and property and casualty insurance for personal lines, agribusiness and certain commercial exposures.
American National is licensed to operate in 50 all US states except New York.
