American National Merger Announcement
On August 9, 2021, American National Group, Inc. and Brookfield Asset Management Reinsurance Partners Ltd. announced they have entered into a definitive merger agreement whereby Brookfield Reinsurance will acquire American National in an all-cash transaction valued at approximately $5.1 billion. Following closing, Brookfield Reinsurance intends to maintain American National’s headquarters in Galveston, Texas, as well as its existing operational hubs in Texas, Missouri and New York. Jim Pozzi, President and CEO of American National, said, “This is an energizing moment in American National’s history. Our two companies share a long-term view of building strong, enduring businesses. Brookfield Reinsurance has been very clear: they want us to continue to grow our business”. The transaction is expected to close in the first half of 2022, pending regulatory approvals and other customary closing conditions. | more