{"id":28054,"date":"2023-06-27T07:10:22","date_gmt":"2023-06-27T11:10:22","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/brookfields-reinsurance-arm-nearing-deal-to-buy-american-equity-source\/"},"modified":"2023-06-27T07:10:23","modified_gmt":"2023-06-27T11:10:23","slug":"brookfields-reinsurance-arm-nearing-deal-to-buy-american-equity-source","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=28054","title":{"rendered":"Brookfield’s reinsurance arm nearing deal to buy American Equity – source"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: People walk to Brookfield Place off Bay Street on the day of the annual general meeting for Brookfield Asset Management shareholders in Toronto, May 7, 2014. REUTERS\/Mark Blinch<\/span>
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By Anirban Sen<\/p>\n

(Reuters) -Canadian private equity firm Brookfield’s reinsurance arm is nearing a deal to buy insurer American Equity Life Holding, a person familiar with the matter told Reuters on Monday. <\/p>\n

Brookfield has made a cash-and-stock offer that is set to be recommended by the American Equity board, the person said, requesting anonymity. <\/p>\n

Shares in the company surged nearly 7% in extended hours after Bloomberg first reported the deal talks. <\/p>\n

Brookfield is already the biggest shareholder with around 20% stake in American Equity, which has a market cap of $3.2 billion, as per Refinitiv data. <\/p>\n

Iowa-based American Equity last year had rejected a $3.9 billion unsolicited takeover proposal from Prosperity Life and its principal shareholder, activist investor Elliott Investment Management.<\/p>\n

Investment managers can significantly increase their assets under management (AUM) by acquiring or teaming up with insurance companies. <\/p>\n

Brookfield and American Equity did not immediately respond to requests for comment from Reuters. <\/p>\n

American Equity provides annuities – an insurance contract customers typically buy for a steady income stream after retiring.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: People walk to Brookfield Place off Bay Street on the day of the annual general meeting for Brookfield Asset Management shareholders in Toronto, May 7, 2014. REUTERS\/Mark Blinch By Anirban Sen (Reuters) -Canadian private equity firm Brookfield’s reinsurance arm is nearing a deal to buy insurer American Equity Life Holding, a […]<\/p>\n","protected":false},"author":1,"featured_media":2360,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-28054","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBrookfield's reinsurance arm nearing deal to buy American Equity - source | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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