1% over the amount for 2004.
The Multiple Line operations were the largest contributors to the increase
in operating earnings , with a continued increase in the results from the
property and casualty lines.03 $2.
For more information, including company news and investor relations
information, visit the company 's web site at http://www. We disclaim any intention or obligation to update or revise any
forward -looking statements, whether as a result of new information, future
events or otherwise, except as may be required by law.

mutilation speech

The Committee will take testimony on CalPASC's
claims of continually soaring insurance rates, rampant
construction defect actions, trade business shut downs and
the growing threat to California's economy caused by the
unfair burden of Type I Indemnity. CalPASC is urging the
legislature to enact comparative fault statues that more
fairly would assess liability and damages in the building
industry.6% increase over the balance at
December 31, 2004.M .

issues female

36 per share) for the same
period in 2004, a 28.

American National Insurance Company is headquartered in Galveston, Texas.----One great
challenge faced by liberal democracies is how best to regulate the
interface between market choice and government behavior.

farming liberties

American National Announces First Quarter 2005 Results

After tax net gain from operations for the first quarter was $80,317,000
($3.95 $124.

human politics

OPERATIONS
Total premium for the first quarter of 2005 was $502,027,000, an increase
of 7.

00 paperback
100 pages March 2005

comparative politics

m.08 per share) for the same period in 2004 . The American
National family of companies offers a broad line of products and services,
which includes life insurance, annuities, health insurance, personal lines
property and casualty insurance , credit insurance and pension plan services. These statements involve certain risks and uncertainties
detailed in the Company's financial statements.

human fetal

Small construction trade businesses with a few pending
construction defect claims and larger companies with several
dozens face the same crisis caused by unfair demand for
payment on unproven defect claims.03 per share) compared with $62,618,000 ($2. First quarter revenues increased by 9.46

* Operating earnings exclude after-tax realized investment gains.anico .

The statements contained in this release that are not historical
statements, including statements regarding future performance, plans and
projections, are forward-looking statements based on management's current
expectations.

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43 $2.

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7%
combined ratio achieved in the first quarter of 2004. Drawing on
his extensive knowledge of history, law, and economics, Hoover senior
fellow Richard Epstein examines this critical issue and discusses the
need to find a middle way between socialism and libertarianism.

mutilation fishing

36
Realized investment gains (losses) $0. In
Free Markets under Siege: Cartels, Politics, and Social Welfare
(Hoover Institution Press, 2005) with clarity, force, and wit, Epstein
shows

How the truly great social catastrophes come from a wholesale
disrespect for individual liberty and a total contempt for
private property

How special interest groups, with the help of sympathetic
politicians, manipulate free markets in their favor

Why losses incurred through the operation of competitive
markets should not be compensated

Why even unilateral reform of trade barriers would reap great
benefits for the United States

Rich in powerful insights, Free Markets under Siege can help
us not only understand the world better but actually make
every person in it better off -- or capable of being so.

animal forfeiture

Trade Contractors' Association Builds Case Against Unjust Contracts

GALVESTON, Texas, American National
Insurance Company (Nasdaq: ANAT) announced first quarter 2005 net income of
$90,863,000 ($3.4% increase.

animal fetal

CalPASC exists to advance and
protect the welfare of specialty trade contractors, suppliers and related
businesses and to represent the position of the trade contractor industry in
the California legislative, political, judicial and regulatory arenas.V. He currently serves as interim
dean of the Law School at the University of Chicago .

farming planning

40 per share)
for the first quarter of 2005 compared with after-tax net realized gains of
$2,086 ,000 ($0.

Richard Epstein is the Peter and Kirsten Bedford Senior Fellow at
the Hoover Institution and the James Parker Hall Distinguished Service
Professor at the University of Chicago.

political female

WHERE: California State Capitol, Committee Room 112

BACKGROUND: The California Professional Association of Professional
Contractors (CalPASC) asks the question: "If the roof leaks,
why is it the fault of the trade contractor who installed the
carpet?" Type I Indemnity clauses in construction contracts
put trade contractor businesses at risk.95 per share). After-tax gain from the property and casualty
business for the first quarter of 2005 was $43,472,000, which was a 49%
increase over the results of the first quarter 2004.6%, a significant improvement over the 89.

welfare mutilation

circumcision politics

43 per share) compared to $64,704,000 ($2.3 % increase. The property and
casualty combined ratio was 82.

American National Insurance Company
COMPARATIVE OPERATIONAL HIGHLIGHTS
Compiled on a GAAP basis

Quarter Ended
March 31,
2005 2004

Revenues $756,782,000 $694,127,000
After-tax earnings:
Operating earnings * $80,317,000 $62,618,000
Realized investment gains (losses) $10,546,000 $2,086,000
Net income $90,863,000 $64,704,000

Per share earnings:
Operating earnings * $3.

liberties future

44

Weighted average number of shares
Upon which computations are based: 26,479,832 26,479,832

March 31, December 31,
2005 2004

Book value per share $124.com .

future society

de
C.

mutilation forfeiture

WHEN: Thursday, March 17, 10:00 a.

The California Professional Association of Specialty Contractors (CalPASC)
is represented and managed by its members.44 per share) for
the same period in 2004, a 40. Assets as of
March 31, 2005 rose to $16,835,500,000, a 1.40 $0. Best Company , and AA (Very Strong) by Standard + Poor's. Actual results may differ
materially from these statements due to changes in business, regulatory,
competitive, market, economic, and political factors that are beyond our
control.

Free Markets under Siege: Cartels, Politics, and Social Welfare
Edited by Richard Epstein

ISBN: 0-8179-4612-8 $10.

animal genital

After tax net gain from operations excludes
after tax net realized investment gains and losses. The
sum of Operating earnings and Realized investment gains (losses) is
equal to Net income.8 billion in assets and is rated A+ (Superior)
by A.

speech future

or upon adjournment until
1:00 p.
The public hearing will take place at 10:00 a.
After tax net realized investment gains were $10,546,000 ($0.08
Net income $3.A.

politics animal

Judiciary Committee to Hear Testimony on Potential Collapse of State's
Building Boon

SACRAMENTO, Calif. or upon the
adjournment of session in both houses .0% to
$756,782,000 versus $694,127,000 for first quarter 2004.

female fur

,

WHAT: The Senate and Assembly Judiciary Committees will be holding
a joint informational hearing on Type I Indemnity in building
contracts. Type I Indemnity,
which is all but universal in building contracts, passes the
liability and financial responsibility for any construction
problem or defect from the builder to the signing
subcontractors, even though individual subcontractors may not
be at fault. Stockholders' equity as of March 31, 2005 reached
$3,308,565,000 ($124.

planning issues

m.
American National's major insurance subsidiaries include American National
Life Insurance Company of Texas , Standard Life and Accident Insurance Company,
Garden State Life Insurance Company, American National Property and Casualty
Company, American National de Mexico, Compania de Seguros de Vida, S. consisting
of Farm Family Life Insurance Company, Farm Family Casualty Insurance Company,
and United Farm Family Insurance Company.

Business Editors/Book Review Writers/Economics + Financial Writers

STANFORD, Calif.

comparative animal

American National has over $16. and the insurance subsidiaries of Farm Family Holdings, Inc.