American National Insurance Company has reported that its fourth quarter 2007 net income declined to $53.33 million or $2 per diluted share, when compared to $110.86 million or $4.17 per diluted share for the same period in 2006.
After tax operating earnings for the quarter were $48.75 million, a decline as against $73.73 million during the comparable period last year. After tax net realized investment gains were $4.59 million for the fourth quarter of 2007, an increase when compared with $37.13 million for the prior year period.
The company’s net income for the full year of 2007 totaled $240.77 million, or $9.04 per diluted share, a fall when compared to $273.23 million, or $10.27 per diluted share for 2006.
The 2007 after tax operating earnings increased to $210.55 million compared to $208.03 million last year. After tax operating earnings exclude after tax net realized investment gains and losses, which totaled a net realized gain of $30.22 million for 2007 compared to a net realized gain of $65.19 million in 2006.