Insurer American National Group Exploring Options Including Possible Sale -Reuters
U.S. insurer American National Group Inc. is exploring options that could include a sale of the company, people familiar with the matter told Reuters on Tuesday.
The news sent shares of American National spiking to their highest level in more than two years, closing 16.1% higher at $142.28 to give the insurer a market value in excess of $3.8 billion.
Started in 1905 by William Lewis Moody Jr., American National is still majority-owned by the founder’s family, which controls the company through a range of trusts and holdings.
From American National website