American National (ANG-PB) S-3 Shelf registration

Exhibit 12.1

Statement re:  Computation of Ratio of Earnings to Fixed Charges

	Nine Months Ended
	September 30,				Year Ended December 31,
	2005		2004		2004		2003		2002		2001		2000
			(Restated)		(Restated)		(Restated)
	(Dollars in thousands)
Consolidated income before taxes, minority interest in earnings of subsidiaries and cumulative effect adjustment (a)	$	52,601	$	48,631	$	69,481	$	39,308	$	28,951	$	9,453	$	14,618
Interest credited to account balances	224,812		236,965		305,762		248,075		183,503		100,125		57,312
Interest expense on General Agency Commission and Servicing Agreement (a)	—		—		—		—		3,596		5,716		5,958
Interest expense on notes payable (a)	12,271		1,100		2,358		2,713		1,901		2,881		2,339
Interest expense on subordinated debt (a)	10,014		6,821		9,609		7,661		—		—		—
Interest expense on amounts due under repurchase agreements and other interest expense	6,825		2,160		3,148		1,278		1,777		1,504		3,267
Interest portion of rental expense	294		266		344		314		267		171		192
Consolidated earnings	$	306,817	$	295,943	$	390,702	$	299,349	$	219,995	$	119,850	$	83,686
Interest credited to account balances	224,812		236,965		305,762		248,075		183,503		100,125		57,312
Interest expense on General Agency Commission and Servicing Agreement (a)	—		—		—		—		3,596		5,716		5,958
Interest expense on notes payable (a)	12,271		1,100		2,358		2,713		1,901		2,881		2,339
Interest expense on subordinated debt (a)	10,014		6,821		9,609		7,661		—		—		—
Interest expense on amounts due under repurchase agreements and other interest expense	6,825		2,160		3,148		1,278		1,777		1,504		3,267
Interest portion of rental expense	294		266		344		314		267		171		192
Combined fixed charges	$	254,216	$	247,312	$	321,221	$	260,041	$	191,044	$	110,397	$	69,068
Ratio of consolidated earnings to fixed charges	1.2		1.2		1.2		1.2		1.2		1.1		1.2
Ratio of consolidated earnings to fixed charges excluding interest credited to account balances	2.8		5.7		5.5		4.3		4.8		1.9		2.2

(a)On December 31, 2003, retroactive to January 1, 2003, we adopted Financial Accounting Standards Board (“FASB”) Interpretation No. 46 (“FIN 46”), Consolidation of Variable Interest Entities, an Interpretation of Accounting Research Bulletin No. 51.  During the first quarter of 2005, retroactive to January 1, 2003, we adopted FASB Staff Position No. FIN 46(R)-5 “Implicit Variable Interests under FIN 46”.  See notes 1 and 2 to our audited consolidated financial statements for December 31, 2004 and note 1 to our unaudited consolidated finanical statements for September 30, 2005.