Brookfield reinsurance unit to buy American National for $5.1 billion

August 10, 2021 by Reuters

(Reuters) -Brookfield Asset Management Inc’s reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday.

Started in 1905 by William Lewis Moody Jr., American National is majority-owned by the founder’s family, which controls the company through a range of trusts and holdings.

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Originally Posted at Reuters on August 9, 2021 by Reuters.