American Equity’s Mysterious Suitor
June 11, 2019 by Michael Jay Markey Jr.
In case you’ve missed it, there’s been a Hollywoodesque legal drama swirling around in the insurance world between two private equity (private equity) firms, Caldera Holdings Ltd., Apollo Global Management LLC, and one publicly traded insurance company.
Until now, the company has been unnamed, but, in my opinion, a recent court filing, and a persistent “no comment” statement, make it clear, that American Equity Life Insurance Company is the company.
The real story isn’t about Caldera and Apollo legal posturing, it’s how American Equity had no choice but to announce it was exploring a sale, even though selling wasn’t the company’s intent, and despite the unlikeliness the transaction would be completed.
American Equity reported more than a year ago that it was talking to a would-be buyer.
Click HERE to read the full story via ThinkAdvisor.