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

12 Months Ended

Dec. 31, 2019

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, 2019
	Cost or  Amortized Cost (1)		Estimated  Fair Value		Amount at Which Shown in the Balance Sheet
Type of Investment
Fixed maturities
Bonds held-to-maturity
U.S. states and political subdivisions	$	195,241	$	201,295	$	195,241
Foreign governments	3,907		4,349		3,907
Corporate debt securities	8,068,966		8,393,788		8,068,966
Residential mortgage-backed securities	237,516		242,828		237,516
Collateralized debt securities	125,631		126,430		125,631
Bonds available-for-sale
U.S. treasury and government	29,505		29,941		29,941
U.S. states and political subdivisions	1,047,326		1,096,101		1,096,101
Foreign governments	5,000		6,287		6,287
Corporate debt securities	5,320,990		5,558,684		5,558,684
Residential mortgage-backed securities	23,405		23,943		23,943
Collateralized debt securities	9,444		10,129		10,129
Equity securities
Common stocks
Consumer goods	121,124		320,444		320,444
Energy and utilities	94,916		132,700		132,700
Finance	116,653		291,696		291,696
Healthcare	70,693		221,319		221,319
Industrials	35,245		127,809		127,809
Information technology	99,502		426,682		426,682
Other	107,667		161,036		161,036
Preferred stocks	17,258		19,274		19,274
Other investments
Mortgage loans on real estate, net of allowance	5,097,017		5,309,005		5,097,017
Investment real estate, net of accumulated depreciation	513,419		—		513,419
Real estate acquired in satisfaction of debt	37,800		—		37,800
Policy loans	379,657		379,657		379,657
Options (2)	103,518		256,005		2,008
Other long-term investments	74,561		—		74,561
Short-term investments	425,321		425,321		425,321
Total investments	$	22,361,282	$	23,764,723	$	23,587,089

(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.