AEL - Hearing Date Set for Brookfield Reinsurance Acquisition of AEL | Benzinga
BROOKFIELD, NEWS, March 13, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance ((NYSE, TSX:BNRE) today announced that the Iowa Insurance Division has confirmed a hearing date of April 5, 2024 for the Brookfield Reinsurance acquisition of American Equity Investment Life Holding Company (NYSE:AEL) ("AEL").
Sachin Shah, CEO of Brookfield Reinsurance said, "We are excited to move toward closing this transaction and begin the work of building AEL into a leader in the U.S. annuity markets. We look forward to working with all stakeholders to drive the business forward, and to make a positive impact in the Des Moines community and on AEL's policyholders and employees."
Brookfield Reinsurance and AEL announced the acquisition on July 5, 2023. The transaction is expected to close shortly after the hearing.
Brookfield Reinsurance Ltd. ((NYSE, TSX:BNRE, BNRE.A)) operates a leading capital solutions business providing insurance and reinsurance services to individuals and institutions. Each class A exchangeable limited voting share and each class A-1 exchangeable non-voting share of Brookfield Reinsurance are exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation. (TSX:BN).
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