American Equity Agrees to $4.3B Offer From Brookfield Re
July 6, 2023 by Allison Bell
The board of American Equity Investment Life has agreed to move forward on a $55-per-share acquisition offer from Brookfield Reinsurance, an affiliate of Brookfield Corp., a large Canadian asset manager, the companies announced Wednesday.
American Equity helped create the modern U.S. indexed annuity market. Click HERE to read the full story via ThinkAdvisor
Moore on the Market: While you all were sleeping, some were preparing press releases for a really dang big deal.
The company that immediately picks up their phones is being sold.
Will American Equity continue to roll out the red carpet when agents visit their home office?
Will there be any integration with American National, now that they will both have the same parent company?
What changes will Brookfield Asset Management (Brookfield RE) make, in order to achieve economies of sale?
The two companies’ combined market share of the $84.7 billion 1Q23 deferred annuity market is 2.43%.
I wonder if the parent intends for AEL to become the annuity arm and ANICO to serve as the life insurance originator?
It appears that we will begin to receive answers to some of these questions in another year or so. -sjm
