Brookfield Reinsurance increases stake in American Equity Investment Life Holding Company


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BROOKFIELD, NEWS, January 07, 2022 (GLOBE NEWSWIRE) – Brookfield Asset Management Reinsurance Partners Ltd. (NYSE, TSX: BAMR) (together with its affiliates, “Brookfield Reinsurance”) announced today 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 combined total ownership interest in AEL to approximately 16%. The share purchase took place under the terms of the previously announced investment agreement between Brookfield Reinsurance and AEL after receiving the required regulatory approvals on December 29, 2021. Brookfield Reinsurance acquired the additional shares at a price of 37, $ 33 per share, or AEL’s adjusted book value as of September 30, 2021, for total consideration of approximately $ 253 million.

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About Brookfield Reinsurance

Brookfield Asset Management Reinsurance Partners Ltd. (NYSE: BAMR; TSX: BAMR) operates a leading reinsurance business focused on providing capital-based and annuity solutions for insurance and reinsurance companies, and retirement risk transfer products for pension plan sponsors. Each Class A Exchangeable Share of Brookfield Reinsurance is exchangeable at the rate of one share for one Class A Limited Voting Share of Brookfield Asset Management Inc. (NYSE: BAM; TSX: BAM.A).

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Notice to readers

Brookfield Reinsurance is not making any offer or invitation of any kind through the communication of this press release and in no case should it be construed as a prospectus or an advertisement.

Some of the information contained in this document is based on or derived from information provided by independent third party sources. Although Brookfield Reinsurance believes this information to be accurate as of the date it was produced and that the sources from which this information was obtained are reliable, Brookfield Reinsurance makes no representations or warranties, express or implied, as to relates to the accuracy, reasonableness or completeness of any of the information or assumptions on which such information is based, contained herein, including, but not limited to, information obtained from third parties .

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