ANI was previously exempt from registration under the Act and was provided with a three year period to accomplish its registration
American National Insurance (ANI) has completed its registration under the Securities and Exchange Act of 1934. Although the company has historically been exempt from SEC registration under Section 12(g)(2)(G) of the Act, registration was required as a result of the conversion of the NASDAQ Stock Market to a national securities exchange in 2006.
ANI previously followed all applicable governance requirements of the NASDAQ stock exchange as well as many of the practices of other registered companies. Thus, SEC registration is not expected to significantly impact the basic operations of the company.
However, ANI has said that the required SEC quarterly and annual reporting is expected to be positive for investors and policyholders, providing a more extensive view of the company.
Galveston, Texas-based ANI has over $18.5 billion in assets and offers life insurance, annuities, health insurance, credit insurance, pension plan services and property and casualty insurance for personal lines, agribusiness, and targeted commercial exposures.