Schedule I - Summary of Investments - Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract]

Schedule I - Summary of Investments - Other Than Investments in Related Parties

AMERICAN NATIONAL INSURANCE COMPANY AND SUBSIDIARIES

SCHEDULE I - SUMMARY OF INVESTMENTS - OTHER THAN INVESTMENTS IN RELATED PARTIES

(In thousands)

	December 31, 2018
Type of Investment	Cost or  Amortized Cost (1)		Estimated  Fair Value		Amount at Which Shown in the Balance Sheet
Fixed maturities
Bonds held-to-maturity
U.S. states and political subdivisions	$	245,360	$	250,899	$	245,360
Foreign governments	3,961		4,430		3,961
Corporate debt securities	7,640,891		7,548,829		7,640,891
Residential mortgage-backed securities	315,306		319,910		315,306
Collateralized debt securities	5,214		5,285		5,214
Other debt securities	717		731		717
Bonds available-for-sale
U.S.treasury and government	28,304		28,399		28,399
U.S. states and political subdivisions	848,228		862,030		862,030
Foreign governments	5,000		6,210		6,210
Corporate debt securities	5,345,579		5,283,818		5,283,818
Residential mortgage-backed securities	31,735		31,662		31,662
Collateralized debt securities	2,775		3,444		3,444
Equity securities
Common stocks
Consumer goods	148,635		322,934		322,934
Energy and utilities	91,725		121,756		121,756
Finance	127,396		259,918		259,918
Healthcare	68,731		206,399		206,399
Industrials	43,871		136,601		136,601
Information technology	118,495		346,384		346,384
Other	95,669		115,193		115,193
Preferred stocks	19,982		21,042		21,042
Other Investments
Mortgage loans on real estate, net of allowance	5,124,707		5,049,468		5,124,707
Investment real estate, net of accumulated depreciation	544,823		—		544,823
Real estate acquired in satisfaction of debt	42,694		—		42,694
Policy loans	376,254		376,254		376,254
Options (2)	108,803		148,006		1,142
Other long-term investments	48,945		—		48,945
Short-term investments	206,760		206,760		206,760
Total investments	$	21,640,560	$	21,656,362	$	22,302,564

(1) Original cost of equity securities and, as to fixed maturity securities, original cost reduced by repayments and valuation write-downs and adjusted for amortization of premiums or accrual of discounts.

(2) The amount shown in the Consolidated Statement of Financial Position represents options exposure net of collateral. See Note 7, Derivative Instruments, of the Notes to the Consolidated Financial Statements for more information.

See accompanying Report of Independent Registered Public Accounting Firm.