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July 14, 2023

Brookfield Reinsurance to Acquire American Equity

Brian Home, Welcome American Equity, American National, annuity, brookfield

Brookfield Reinsurance and American Equity Investment Life Holding Company (AEL) have entered into a definitive agreement whereby Brookfield Reinsurance will acquire all of the outstanding shares of common stock of AEL in a cash and stock transaction that values AEL at approximately $4.3 billion. Brookfield Reinsurance expects to maintain AEL’s headquarters in Des Moines, Iowa, and that growth in the AEL platform over time should increase net jobs in Iowa. This is the second major U.S. insurance company acquisition in as many years for Brookfield Reinsurance. Last year, Brookfield Reinsurance acquired American National Group for $5.1 billion. | more

August 9, 2021

American National Merger Announcement

Brian Home, Welcome American National, annuity, brookfield, iul, life, life insurance

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