Brookfield Reinsurance to buy annuities provider American Equity for about US$4.3-billion

Brookfield’s reinsurance arm will buy American Equity Investment Life Holding in a deal worth about $4.3-billion as the Canadian investment firm ramps up its insurance business, the companies said on Wednesday.in late June, the firms said in a statement. It represents a 35 per cent premium to AEL’s last close on the New York Stock Exchange before media reports of a possible takeover proposal from Brookfield emerged last week.

Brookfield and AEL said the deal consists of $38.85 in cash and the rest in Brookfield Asset Management’s shares.

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