American National Insurance Company has reported revenues of $789.6bn for the fourth quarter of 2009, an increase of 14.5% compared to $540.9bn for the same quarter in 2008. Increase in revenues was mainly due to the impact of the other-than-temporary impairments on the 2008 amounts.
The company has posted an operating income of $30.13bn, a decrease compared to an operating income of $44.02bn for the same period last year.
For the fourth quarter ended December 31, 2009, the company has posted a net income of $34.97bn, or $1.31 per diluted share, compared to a net loss of $65.05bn, or $2.46 per diluted share for the same period in 2008.
For the full year 2009, the company has reported revenues of 2.95 trillion compared to 2.52 trillion last year. Operating income was $64.83bn compared to $92.8bn. Net income was $15.62bn, or $0.59 per diluted share, compared to a net loss of $154bn, or $5.82 per diluted share in 2008.