Brookfield Reinsurance Completes Acquisition of AEL
- BROOKFIELD, NEWS, May 02, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) and American Equity Investment Life Holding Company (NYSE: AEL) (“AEL”) today announced the completion of Brookfield Reinsurance's acquisition of AEL in a cash and stock transaction valued at $56.50 per AEL share. AEL's leading fixed annuity business bolsters Brookfield Reinsurance's expanding insurance operations and increases its insurance assets under management to over $100 billion.
- 05/02/2024
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Brookfield Reinsurance Completes Annual Filings
- BROOKFIELD, NEWS, March 27, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) announced today the filing of its 2023 annual report, including audited financial statements for the year ended December 31, 2023, on Form 20-F with the SEC on EDGAR as well as with Canadian securities regulatory authorities on SEDAR.
- 03/27/2024
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Hearing Date Set for Brookfield Reinsurance Acquisition of AEL
- 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”).
- 03/13/2024
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Brookfield Reinsurance Announces Year End 2023 Results and Declares Quarterly Distribution Increase
- BROOKFIELD, NEWS, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE, BNRE.A) today announced financial results for the three months and year ended December 31, 2023.
- 02/08/2024
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Brookfield Reinsurance Announces Results of Exchange Offer and Intention to Take Up Brookfield Corporation Class A Shares
- Approximately 32.5 million BN Shares were tendered in the Exchange Offer Approximately 32.5 million BN Shares were tendered in the Exchange Offer
- 11/14/2023
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Brookfield Reinsurance Announces Strong Third Quarter Results and Declares Regular Quarterly Distribution
- BROOKFIELD, NEWS, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE) today announced financial results for the quarter ended September 30, 2023.
- 11/09/2023
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Brookfield Reinsurance Announces Commencement of Exchange Offer
- Offer enables holders of Brookfield Corporation Class A Shares to voluntarily exchange into shares of Brookfield Reinsurance on a one-for-one basis Offer enables holders of Brookfield Corporation Class A Shares to voluntarily exchange into shares of Brookfield Reinsurance on a one-for-one basis
- 10/11/2023
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7 Stocks That Wall Street Is Ignoring (But Shouldn't Be!)
- With thousands of publicly traded securities available, it's inevitable that more than a few names will classify as under-the-radar stocks to buy for discerning investors. I don't say this to cast aspersions on any market expert.
- 08/20/2023
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Brookfield Reinsurance Announces Exchange Offer
- Offer will enable holders of Brookfield Corporation Class A Shares to voluntarily exchange into shares of Brookfield Reinsurance on a one-for-one basis Offer will enable holders of Brookfield Corporation Class A Shares to voluntarily exchange into shares of Brookfield Reinsurance on a one-for-one basis
- 08/18/2023
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Brookfield Reinsurance Announces Results for Election of Directors
- BROOKFIELD NEWS, Aug. 17, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE) today announced that all five nominees proposed for election to the board of directors by holders of class A exchangeable limited voting shares (“class A shares”) and all five nominees proposed for election to the board of directors by the holder of class B limited voting shares (“class B shares”) were elected at the company's annual general and special meeting of shareholders held earlier today in a virtual meeting format. Detailed results of the vote for the election of directors are set out below.
- 08/17/2023
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Brookfield Reinsurance Announces Strong Second Quarter Results and Declares Regular Quarterly Distribution
- BROOKFIELD, NEWS, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE) today announced financial results for the quarter ended June 30, 2023.
- 08/10/2023
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Brookfield Reinsurance Expands Its Portfolio by Buying AEL
- Brookfield Reinsurance agreed to buy the rest of American Equity Life Holding Company that it doesn't already own for $4.3 billion.
- 07/05/2023
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Brookfield Reinsurance to acquire remaining shares of AEL in $4.3 billion cash-and-stock deal
- Brookfield Reinsurance Ltd. BNRE, -0.63% has agreed to acquire the shares of American Equity Investment Life Holding Co. AEL, -0.69%, or AEL, it does not already own in a cash-and-stock deal valued at $4.3 billion.
- 07/05/2023
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American Equity: How To Play The Brookfield Buyout
- American Equity was offered a $55 buyout from Brookfield. We look at who benefits and the likelihood of the deal getting through. We look at the best way to play this for a safe return.
- 07/04/2023
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Brookfield Reinsurance Completes Filing of Recast Financial Statements; Announces date of Shareholder Meeting
- BROOKFIELD, NEWS, June 28, 2023 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BNRE) today announced that it has filed recast audited consolidated financial statements as of December 31, 2022 and December 31, 2021 and for each of the three years in the period ended December 31, 2022 and corresponding management's discussion and analysis (the “Recast Financial Statements”). The Recast Financial Statements have been prepared in connection with Brookfield Reinsurance's previously announced conversion of its accounting framework from International Financial Reporting Standards, as issued by the International Accounting Standards Board, to accounting principles generally accepted in the United States of America.
- 06/28/2023
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Brookfield Reinsurance may soon own American Equity
- American Equity Investment Life Holding (NYSE: AEL) ended about 15% up after Brookfield Reinsurance Ltd (TSE: BNRE) said it was willing to buy the annuity provider for $4.3 billion. Analysts' view on the Brookfield-AEL deal The proposal translates to $55 a share, of which, the Canadian investment giant wants to pay $38.
- 06/27/2023
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AEL's stock jump 15% after company confirms $55 a share offer from Brookfield Reinsurance
- The stock of American Equity Investment Life Holding Co. AEL, +10.89% jumped 15% premarket Tuesday, after the West Des Moines, Iowa-based annuity provider confirmed it has received a $55 per share offer from Brookfield Reinsurance Ltd. BAM, -0.57% The offer is comprised of $38.85 a share in cash and $16.15 a share in Brookfield stock.
- 06/27/2023
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AM Best Affirms Credit Ratings of North End Re (Cayman) SPC
- OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent) of North End Re (Cayman) SPC (NER Cayman) (Cayman Islands). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect NER Cayman’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect NER Cayman’s execution of its business plan, which includes maintaining a favorable risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR). In 2021, NER Cayman executed a reinsurance transaction with American Equity Investment Life Holding Company [NYSE: AEL] (AEL), under which NER Cayman agreed to assume up to $10 billion of annuity products issued by American Equity Investment Life Insurance Company, a subsidiary of AEL. As of year-end 2022, the management of this business has produced favorable results with NER Cayman reporting $195 million in net income. NER Cayman’s parent, Brookfield Reinsurance Ltd. [NYSE, TSX: BNRE] (Brookfield Reinsurance), is a publicly traded company focused on providing capital-based solutions and insurance and reinsurance services to individuals and institutions. Brookfield Reinsurance seeks capital-intensive business to leverage its asset management and sourcing capabilities. In August 2021, Brookfield Reinsurance announced an agreement to acquire American National Group, Inc. in a cash transaction valued at approximately $5.1 billion, which closed in May 2022. NER Cayman geographically complements its sister company, North End Re Ltd., which also began its reinsurance operations in 2021. The company has another sister company, Brookfield Annuity Company, that provides pension risk transfer solutions in Canada. This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com. Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
- 04/13/2023
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Brookfield Reinsurance Buying Argo For $1.1 Billion: Details (BNRE) (ARGO)
- Brookfield Reinsurance (NYSE: BNRE) is buying Argo Group International Holdings, Ltd. (NYSE: ARGO) for $1.1 billion.
- 02/10/2023
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Brookfield Reinsurance Announces Timing of Special General Meeting
- BROOKFIELD, NEWS, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Brookfield Reinsurance (NYSE, TSX: BAMR) (“Brookfield Reinsurance” or the “Company”) announced today that a special general meeting of its shareholders has been called for November 9, 2022.
- 09/23/2022
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Brookfield Asset Management: Spin-Off Shapes Up
- Brookfield disclosed important information about coming spin-off of its asset management business during its Investor Day. Since 90% of Manager's earnings will be paid out in dividends, Manager is expected to trade on yield. Brookfield expects these dividends to grow at 15-20% per year.
- 09/14/2022
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Brookfield Is Scaling Up - Q2 Earnings Calls And Investment Opportunities
- BAM and BAMR are attractive due to ongoing business development and the coming spin-off of the asset management business. BIP/BIPC are trading close to their fair value. The commissioning of the Heartland Petrochemical Complex late this year may become a catalyst for the stock.
- 08/14/2022
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Buy The Dip In World-Class Asset Managers: Brookfield And Blackstone
- BAM and BX are the best-of-breed global alternative asset managers. Both are looking attractively priced on the dip.
- 07/09/2022
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Better Buy: Blackstone Vs. Brookfield Asset Management
- Better Buy: Blackstone Vs. Brookfield Asset Management
- 02/25/2022
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Brookfield Makes A Move Out Of Buffett's Playbook
- Brookfield created a new insurance subsidiary and has been after insurance "float".
- 12/21/2021
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