American National Insurance Company (ANIC) has formed a new subsidiary, American National Life Insurance Company of New York to expand its marketing operations.
According to ANIC, the new subsidiary was incorporated under the laws of New York on October 15, 2009 and received its license from New York to sell life insurance, accident and health insurance and annuities on March 17, 2010.
The company said that with the distribution that includes brokerage, banks, broker dealers, and career agents, it is poised to market fixed annuities to a range of New York residents. In addition, other plans include expansion into life and pension sales, through both agent marketing and direct marketing to consumers.
Jim Pozzi, president and chief operating officer of American National Life Insurance Company of New York, said: “Our new subsidiary will create a marketing opportunity to introduce our portfolio of fixed annuities to New York residents, and as we further develop our product offerings, we will expand into direct marketing and other areas.”
American National has added American National Life Insurance Company of New York into its family of companies, which also includes American National Life Insurance Company of Texas, Standard Life and Accident Insurance Company, Garden State Life Insurance Company, American National Property and Casualty Company, Farm Family Life Insurance Company, Farm Family Casualty Insurance Company and United Farm Family Insurance Company.