Exhibit 5.1
October 2, 2024
American National Group Inc.
$600,000,000 5.750% Senior Notes due 2029
Ladies and Gentlemen:
We have acted as counsel for American National Group Inc., a Delaware corporation (the “Company”), in connection with the Prospectus Supplement, dated September 25, 2024 (the “Prospectus Supplement”), of the Company, filed with the Securities and Exchange Commission (the “Commission”) and relating to the issuance and sale by the Company of $600,000,000 aggregate principal amount of the Company’s 5.750% Senior Notes due 2029 (the “Notes”). The Notes will be issued under the Indenture, dated as of October 2, 2024 (the “Base Indenture”), between the Company and Wilmington Trust, National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture dated as of October 2, 2024 (together with the Base Indenture, the “Indenture”), between the Company and the Trustee, in accordance with the Underwriting Agreement, dated September 25, 2024 (the “Underwriting Agreement”), among Wells Fargo Securities, LLC, BMO Capital Markets Corp. and BNP Paribas Securities Corp., as representatives of the several underwriters listed on Schedule I thereto (the “Underwriters”), and the Company.
In connection with this opinion, we have examined originals, or copies certified or otherwise identified to our satisfaction, of such corporate records, certificates of corporate officers and government officials and such other documents as we have deemed necessary or appropriate for the purposes of this opinion, including: (a) the Certificate of Incorporation of the Company; (b) the Bylaws of the Company; (c) the resolutions adopted by unanimous written consent of the Board of Directors of the Company on July 25, 2024; (d) the resolutions adopted by unanimous written consent of the Board of Directors of the Company on September 20, 2024; (e) the Registration Statement on Form S-3 (Registration No. 333-281155), filed with the Commission on July 31, 2024, with respect to registration under the Securities Act of 1933 (the “Act”), of $3,500,000,000 aggregate amount of various securities of the Company, to be issued from time to time by the Company, as amended by Amendment No. 1 thereto filed with the Commission on August 27, 2024 (such Registration Statement, as amended by such amendment, being hereinafter referred to as the “Registration Statement”); and (f) the Indenture and the form of Note included therein. As to various questions of fact material to this opinion, we have relied upon representations of officers or directors of the Company and documents furnished to us by the Company without independent verification of their accuracy.
We have also assumed (a) the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to authentic original documents of all documents submitted to us as copies and (b) that the Indenture has been duly authorized, executed and delivered by, and represents a legal, valid and binding obligation of, the Trustee.
Based on the foregoing and subject to the qualifications set forth herein and subject to compliance with applicable state securities laws, we are of opinion that the Notes, when executed and authenticated in accordance with the provisions of the Indenture and delivered to and paid for by the Underwriters pursuant to the Underwriting Agreement, and assuming due authentication of the Notes by the Trustee, will constitute legal, valid and binding obligations of the Company entitled to the benefits of the Indenture and enforceable against the Company in accordance with their terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally from time to time in effect and to general principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, regardless of whether considered in a proceeding in equity or at law).
We are admitted to practice in the State of New York, and we express no opinion as to matters governed by any laws other than the laws of the State of New York, the General Corporation Law of the State of Delaware and the Federal laws of the United States of America.
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We are aware that we are referred to under the heading “Legal Matters” in the Prospectus Supplement. We hereby consent to such use of our name therein and to the filing of this opinion as Exhibit 5.1 to the Company’s Current Report on Form 8-K filed on October 2, 2024, and to the incorporation by reference of this opinion into the Registration Statement. In giving this consent, we do not hereby admit that we are within the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission promulgated thereunder.
Very truly yours, | ||
/s/ Cravath, Swaine & Moore LLP |
American National Group Inc.
One Moody Plaza
Galveston, Texas 77550
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