American National Insurance Co. (ANAT) said that its American National Property And Casualty Co. and American National General Insurance Co. have been notified of a Utah jury decision for compensatory damages of $3.61 million, 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, American National Property And Casualty and American National General Insurance intend to ask the United States District Court for the District of Utah for a retrial of all issues.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.