American Equity Investment Life Holding Company
AEL-PA
New York Stock Exchange24.65
USD
+0.14
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American Equity Investment Life Holding Company
AEL-PA
(New York Stock Exchange)
Recent
price
24.65
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- American Equity Investment Life Holding Company engages primarily in the development, manufacture, and sale of annuity and life insurance products designed to provide retirement savings and income solutions. Its core product portfolio includes fixed index annuities, fixed annuities, and life insurance policies targeted mainly at individuals nearing retirement and those seeking to secure financial stability in retirement. The company operates through subsidiaries that focus on retirement product innovation, including the IncomeShield fixed index annuity brand and other fixed annuity offerings. Founded in 1995 and headquartered in West Des Moines, Iowa, American Equity serves the U.S. market with additional offices in Charlotte, North Carolina, New York City, and Miami, Florida. Recent major changes include the completion of Brookfield Reinsurance's acquisition of American Equity, which was finalized in early 2024 following shareholder and court approvals. This strategic acquisition has led to Brookfield Asset Management upgrading American Equity’s insurer financial strength rating to 'A' by S&P, reflecting enhanced financial stability and operational scale under the Brookfield platform. The partnership with Brookfield also encompasses significant reinsurance arrangements, including ceding $4.3 billion of GAAP reserves and $352 million of flow reinsurance agreements, aimed at bolstering capital efficiency and supporting growth in fixed index annuity sales. American Equity has also shifted investment strategy to emphasize insurance liability-driven asset allocation and increased focus on private asset management, aligning with Brookfield's expertise. In addition to product innovation, American Equity’s corporate strategy now includes expansion to downtown Des Moines with the relocation of its headquarters, signaling operational scaling to support its broadened platform following the Brookfield acquisition. The company reported record annual fixed index annuity sales surpassing $7 billion in 2023 and continues to drive growth through fee-earning reinsured balances. American Equity’s lifecycle is deeply embedded in retirement services, with a product suite designed to meet the evolving financial security needs of U.S. clients through variable annuities, fixed annuities, and life insurance products, while strategically leveraging Brookfield’s asset management capabilities to enhance financial performance and service delivery.