American Equity Ready To Reclaim FIA Dominance

November 16, 2021 by John Hilton

A recent $10 billion reinsurance deal will help American Equity grow its fixed index annuity income product line, CEO Anant Bhalla said.

Under an agreement that closed in October, Brookfield Reinsurance has reinsured a block of approximately $4 billion of in-force policies, and will reinsure up to an additional approximately $6 billion of American Equity’s “IncomeShield” or other mutually agreed liabilities issued by the company.

Brookfield Reinsurance holds an approximate 9.5% equity interest in American Equity and has agreed to purchase additional shares of the company’s common stock for up to a total equity interest of 19.9%.

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Originally Posted at InsuranceNewsNet on November 9, 2021 by John Hilton.