American National Insurance has reported net income of $57,569,000, or $2.15 per diluted share compared to net income of $47,056,000, or $1.76 per diluted share for the same period in 2010.
Third quarter after-tax operating earnings, which exclude net realized investment gains and losses, increased to $49,327,000, or $1.84 per diluted share compared with $34,949,000, $1.31 per diluted share in earnings for the same period in 2010.
Net income for the nine months ended 30 September 2011 increased to $136,109,000, or $5.10 per diluted share from net income of $108,456,000, or $4.07 per diluted share for the first nine months of 2010.
After-tax operating earnings for the first nine months of 2011, which exclude net realized investment gains and losses, were $98,645,000, or $3.69 per diluted share compared with $75,672,000 or $2.84 per diluted share for the same period in 2010.
Revenues for the nine months ended 30 September 2011 were down 1.8% from 2010, as a result of lower premiums in the health and property and casualty segments.
Pre-tax catastrophe losses in the property and casualty segment, net of reinsurance, were $113.6m through 30 September 2011 compared with $104.2m in the first nine months of 2010.