Critics call out Brookfield Asset Management asset transfers to insurer
October 17, 2023 by John Hilton
Financial reporting documents by Brookfield Asset Management Reinsurance (Brookfield Re) and an insurer it acquired last year are raising renewed questions about private equity control of policyholder funds.
Forms filed by Brookfield Re and American National Insurance Co. show a transfer of assets owned by the former company, mainly commercial real estate. A new report issued by Unite Here, a union group and persistent critic of Brookfield, raises red flags for some industry consumer advocates.