American National Insurance Company's President G. Richard Ferdinandtsen talks to The Wall Street Transcript.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 6, 2001 The Wall Street Transcript A generic term for any kind of copy, particularly an official or certified representation of the record of what took place in a court during a trial or other legal proceeding. A transcript of record has published an in-depth interview with G. Richard Ferdinandtsen, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of American National Insurance Company American National Insurance Company (NASDAQ: ANAT) is one of the largest life insurance companies in the United States. The company was founded in Galveston, Texas by William L. Moody, Jr. in 1905. It operates numerous subsidiaries throughout several U.S. (Nasdaq:ANAT), in which he talks at length about the company's future. The entire 2,900-word interview is available free online at http://www.twst.com/ceos.htm. Ferdinandtsen gives an overview of the company. "American National is organized by distribution systems. In addition to home service and multiple line, we also have an independent marketing division. Independent Marketing sells through six distribution channels: Brokerage, Broker-Dealer, Pensions, Payroll Deduction, Financial Institution, and Alternative, all with independent agents." Ferdinandtsen explains, "In the parent American National Insurance Company, our administrative expenses are up substantially, primarily in the information technology area, as we build support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services for these independent producers. We're consolidating some legacy systems, putting them into a more modern platform, and utilizing the Internet for the delivery of a variety of services and products to our agents and, now, to customers. We're improving our ability to compete in today's market, and we feel that a large portion of future life production will come from our independent producers." Looking forward, Ferdinandtsen states, "Corporate planning is important to American National. We have short-term and long-term goals Long-term goals Financial goals expected to be accomplished in five years or longer. and objectives for all of our operations, and these goals are interrelated in·ter·re·late tr. & intr.v. in·ter·re·lat·ed, in·ter·re·lat·ing, in·ter·re·lates To place in or come into mutual relationship. in . We are utilizing the talents from all areas to help each other. We have analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. where we are, where we've been, and where we want to go. We've established goals and objectives, we've established measurements, and we're in the process of tracking those measurements to expectations, and then modifying the plan to achieve the objectives. We're in the final stages, and we're in control of what we do, which is important to our future." This interview is part of a 43-page Life Insurance Issue available at http://www.twst.com/info/info411.htm or by calling 212/952-7433 The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673. |
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