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American National Declares Q2 Results

Net loss before tax was heavily impacted by losses of $42.6 million in the Property and Casualty segment

American National Insurance has reported second quarter 2009 net loss of $4,355,000 ($0.16 per basic share), compared to a net loss of $2,935,000 ($0.11 per basic share) for the same period in 2008.

After tax operating earnings for the second quarter were $1,331,000 ($ 0.05 per basic share), as compared to a loss of $119,000 ($0.00 per basic share) for the same period in 2008.

After tax net realised investment losses were $5.68 million ($ 0.21 per basic share) for the second quarter of 2009, as compared to net realised investment losses of $2,816,000 ($0.11 per basic share) for the same period in 2008.

Net income for the six months ended June 30, 2009, totaled a loss of $52,050,000 ($1.96 per basic share), as compared to net income of $36 million ($1.36 per basic share) for the first half of 2008.

The before tax net loss from operations for the first half of 2009 was heavily impacted by losses of $42.6 million in the Property and Casualty segment.

American National Insurance provides life insurance, annuities, health insurance, credit insurance, pension plan services and property and casualty insurance.