Related Party Transactions

12 Months Ended

Dec. 31, 2019

American National has entered into recurring transactions and agreements with certain related parties. These include mortgage loans, management contracts, agency commission contracts, marketing agreements, health insurance contracts, and legal services. The impact on the consolidated financial statements of significant related party transactions is shown below (in thousands):



		Dollar Amount of Transactions				Amount due to (from) American National
		Years ended December 31,				December 31,
Related Party	Financial Statement Line Impacted	2019		2018		2019			2018
Gal-Tex Hotel Corporation	Mortgage loan on real estate	$	576	$	1,647	$	—		$	576
Gal-Tex Hotel Corporation	Net investment income	9		107		—			3
Greer, Herz & Adams, LLP	Other operating expenses	12,088		11,173		(519		)	(329		)

Mortgage Loans to Gal-Tex Hotel Corporation (“Gal-Tex”): American National held a first mortgage loan which originated in 1999, with an interest rate of 7.25% and final maturity date of April 1, 2019 issued to a subsidiary of Gal-Tex, which was collateralized by a hotel property in San Antonio, Texas. This loan has been paid in full. The Moody Foundation owns 34.0% of Gal-Tex and 22.75% of American National, and the Libbie Shearn Moody Trust owns 50.2% of Gal-Tex and 37.0% of American National.

Transactions with Greer, Herz & Adams, LLP: Irwin M. Herz, Jr. is a director on the American National Board of Directors and a Partner with Greer, Herz & Adams, LLP, which serves as American National’s General Counsel.