Brookfield Reinsurance to Acquire American Equity Investment Holdings Company

Last week we shared with you that our holding company, American Equity Investment Life Holdings (“AEL”) received an offer from Brookfield Reinsurance Ltd. (“BNRe”) for $55.00 per share in cash and Brookfield Asset Management stock. We are reaching out to you today to let you know that we have entered into a definitive agreement accepting the previously announced proposal. 

Our board has spent the past week reviewing this offer in accordance with its fiduciary duties and in consultation with its independent financial and legal advisors.  After this thorough review, the Board determined that the offer provides AEL shareholders not only clear and immediate value, but also the continued opportunity to invest in a market-leading asset manager through Brookfield Asset Management stock.

You should know that today’s announcement is just the first step in the process, as the deal is still subject to customary regulatory and shareholder approvals. We expect the deal to close in the first half of 2024.

As we value our partnership with you, we wanted to make sure that you heard this news from us directly. We also wanted to take this opportunity to remind you that, until closing, AEL and BNRe will continue to operate as separate companies.

We are grateful for our ongoing strategic relationship, and we will continue to keep you updated as we work towards the completion of this transaction. Thank you for your continued commitment and dedication to American Equity.