HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- American National Group (“American National”) today announced the launch of its first proprietary custom index, which will be paired with American National’s Strategy Index 10 annuity. Developed in collaboration with BNP Paribas, the Patriot Technology Index is designed to offer clients a unique blend of innovation, protection, and growth potential.
The Strategy Index 10 annuity includes a flexible premium option, allowing clients to adapt their investment strategies over time with a 10-year surrender period. This flexibility is crucial for meeting the evolving financial goals and needs of clients. Furthermore, the indexed annuity offers clients the option of allocating their investments across various strategies to diversify their portfolios. Available options include the S&P 500®, S&P MARC 5%, Nasdaq®, and the new Patriot Technology Index.
The Patriot Technology Index is comprised of U.S. large and mid-cap technology companies identified by the U.S. government as critical and emerging technologies that help to inform national security-related activities. This index provides clients with a unique investment opportunity, leveraging the strong performance of the U.S. stock market and the trend towards deglobalization. As the market shifts, U.S.-focused and U.S.-based companies are poised for considerable upside, making this a strategic addition to any portfolio.
“We are excited to introduce the Patriot Technology Index, reflecting our commitment to innovation and our dedication to serving the needs of our prospective and existing clients with products to meet their financial goals,” said Chad Ferrell, Senior Vice President and Chief of Life and Annuity Distribution at American National. “This collaboration enables us to offer a proprietary index that is composed of US Large/Mid Cap companies that align with the U.S. priorities and interest.”
“BNP Paribas is excited to be working with American National to bring a highly differentiated and exclusive index strategy to market,” added Ryan Cullen, Head of EQD Insurance Solutions Sales at BNP Paribas.
The Patriot Technology Index offers exposure to U.S. companies with the potential to benefit from strategic investment in 14 critical and emerging technologies identified by the U.S. government and incorporates geostrategic risk ratings made possible through a collaboration with the industry-leading teams at J.H. Whitney and Solactive.
ABOUT AMERICAN NATIONAL
American National is a group of companies writing a broad array of insurance products and services and operating in all 50 states. American National Insurance Company was founded in 1905 and is headquartered in Galveston, Texas. Life insurance, annuities, health insurance, credit insurance, pension products, and other products and services are written through multiple companies. Property and casualty insurance is written through American National Property And Casualty Company, Springfield, Missouri, and affiliates. In New York, business is written through Farm Family Casualty Insurance Company, United Farm Family Insurance Company, and American National Life Insurance Company of New York, Glenmont, New York. Not all products and services are available in all states. Not all companies are licensed in all states. Each company has financial responsibility for only the products and services it issues. For more information, please visit AmericanNational.com.
ABOUT BNP PARIBAS
BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 63 countries and has nearly 183,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
This product is not sponsored, endorsed, sold, or promoted by BNP Paribas or any of its affiliates (collectively, “BNP Paribas”). Neither BNP Paribas nor any other party (including without limitation any calculation agents or data providers) makes any representation or warranty, express or implied, regarding the advisability of purchasing this product. BNPP Patriot Technology Index (the “Index”) is the exclusive property of BNP Paribas. BNP Paribas and the Index are service marks of BNP Paribas and have been licensed for use for certain purposes by American National Insurance Company. Neither BNP Paribas nor any other party has or will have any obligation or liability to owners of this product in connection with the administration or marketing of this product, and neither BNP Paribas nor any other party guarantees the accuracy and/or the completeness of the Index or any data included therein.
The S&P MARC 5% Index and the S&P 500® Index are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”) and have been licensed for use by American National Insurance Company. S&P®, S&P 500®, US 500, The 500, iBoxx®, iTraxx® and CDX® are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”) and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by American National Insurance Company. American National Insurance Company’s products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P MARC 5% Index and the S&P 500® Index.
Nasdaq® and the Nasdaq-100 Index® are registered trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by American National Insurance Company. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
Guarantees are based on the claims paying ability of American National Insurance Company. Form Series FPIA19. Forms may vary by state. American National Insurance Company, Galveston, Texas.
Contact: Scott Campbell
SVP, Corporate Communications
Scott.Campbell@AmericanNational.com
