Brookfield Reinsurance Increases Stake in American Equity Investment Life Holding Company

Jan 07, 2022

BROOKFIELD, NEWS, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Brookfield Asset Management Reinsurance Partners Ltd. (NYSE, TSX: BAMR) (together with its affiliates, “Brookfield Reinsurance”) today announced that it has purchased an additional 6,775,000 shares of common stock of American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”), bringing its total combined equity interest in AEL to approximately 16%. The share purchase took place pursuant to the terms of Brookfield Reinsurance’s previously announced investment agreement with AEL following receipt of required regulatory approvals on December 29, 2021. Brookfield Reinsurance acquired the additional shares at a price of $37.33 per share, being AEL’s adjusted book value as of September 30, 2021, for total consideration of approximately $253 million.

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