American Equity reports fourth-quarter, year-end earnings
February 11, 2016 by Business Record
American Equity Investment Life Holding Co., a leading issuer of fixed index annuities, on Wednesday reported fourth-quarter 2015 net income of $33.8 million, or 40 cents per share, compared with $31.2 million, or 39 cents per share, for the year-ago quarter. For the year ended Dec. 31, 2015, net income was $219.8 million, or $2.72 per share, compared with $126 million, or $1.58 per share, for 2014. In 2015 the West Des Moines-based company achieved 16.6 percent growth in policyholder funds under management and a 12.5 percent operating return on average equity. Other achievements in 2015 included Standard & Poor’s upgrading the company’s rating from below investment grade to investment grade, and an August 2015 common stock offering, which raised $104.5 million in initial net proceeds.