American National to Appeal Utah Jury Verdict

American National Insurance Company, American National Property and Casualty Company and American National General Insurance Company have been notified of a Utah jury decision for compensatory damages of $3,606,214, jointly and severally with other defendants.

The jury verdict also included a separate verdict for punitive damages of $60 million, a multiple of over 16 times. The case related to the defection of another company's insurance agents.

American National Insurance Company, American National Property and Casualty Company and American National General Insurance Company intend to ask the United States District Court for the District of Utah for a retrial of all issues.

American National Insurance Company, American National Property and Casualty Company and American National General Insurance Company believe that the verdict is excessive and the punitive damage award bears no correlation to compensatory damages, is unconstitutional and violates the Due Process Clause of the United States Constitution and decisions of the U.S. Supreme Court.