American Equity Executes Industry Re-defining Reinsurance Partnership with Brookfield Reinsurance

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Oct 11, 2021

American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL), announced today that it has closed its previously announced reinsurance transaction with North End Re (Cayman) SPC, a wholly owned subsidiary of Brookfield Asset Management Reinsurance Partners Ltd. (“Brookfield Reinsurance”) (NYSE, TSX: BAMR). Under the terms of the agreement, effective July 1, 2021 American Equity Investment Life Insurance Company (“American Equity Life”), one of American Equity’s primary insurance subsidiaries, will cede up to $10 billion of liabilities including both in-force and new business flow to North End Re.