Brookfield Reinsurance Completes Acquisition of AEL

Core Viewpoint - Brookfield Reinsurance has successfully acquired American Equity Investment Life Holding Company (AEL) in a transaction valued at $56.50 per AEL share, enhancing its insurance operations and increasing its assets under management to over$100 billion [1]. Group 1: Acquisition Details - The acquisition is structured as a cash and stock transaction, valued at $56.50 per share of AEL [1]. - AEL's strong fixed annuity business will complement Brookfield Reinsurance's existing insurance operations [1]. - The acquisition is expected to create job growth in Iowa, where AEL is headquartered [1]. Group 2: Strategic Implications - Jon Bayer, Managing Partner at Brookfield Reinsurance, expressed enthusiasm about the acquisition, highlighting the potential for growth and diversification in retirement services [1]. - The integration of AEL is anticipated to enhance Brookfield's capabilities in serving policyholders and distribution partners [1]. Group 3: Company Backgrounds - Brookfield Reinsurance operates a leading capital solutions business, providing insurance and reinsurance services to individuals and institutions [3]. - American Equity is a prominent provider of fixed rate and fixed index annuity products, with a network of over 40,000 independent agents and advisors [4].