‘Slow to insurance,’ Brookfield boosts presence with American Equity pact
October 21, 2020 by Tim Zawacki
Another alternative asset manager has partnered with a significant U.S.-based annuity writer to accelerate its insurance-related activities.
Three months after KKR & Co. Inc. agreed to acquire Global Atlantic Financial Group Ltd., American Equity Investment Life Holding Company announced a partnership with Brookfield Asset Management Inc. that incorporates a significant equity investment, a reinsurance component, and access to Brookfield products in targeted asset classes.
Brookfield Chief Investment Officer Sachin Shah described the transaction as “a meaningful investment for us in the attractive U.S. insurance market.” It comes only weeks after J. Bruce Flatt, the company’s managing partner and CEO, offered his strongest signal to date of growing interest in a business segment that has been emphasized by a number of Brookfield’s peers.
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