American Equity Investment Reports $2B Q2 Sales Aided By Fixed Index Annuities
Portfolio Pulse from Lekha Gupta
American Equity Investment Life Holding Co (AEL) reported Q2 2023 sales of $2 billion, led by fixed index annuities business which totaled $1.9 billion, up 94% Q/Q and 141% Y/Y. The company also disclosed its acquisition by Brookfield Reinsurance Ltd (BNRE) for $4.3 billion last week. AEL shares closed higher by 0.38% at $53.11 after-hours on Tuesday.
July 12, 2023 | 10:45 am
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POSITIVE IMPACT
American Equity Investment's Q2 sales were boosted by its fixed index annuities business. The company's recent acquisition by Brookfield Reinsurance could also impact its future performance.
The significant increase in Q2 sales, driven by the fixed index annuities business, indicates strong performance. The recent acquisition by Brookfield Reinsurance could provide additional resources and support, potentially boosting future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Brookfield Reinsurance recently acquired American Equity Investment, which reported strong Q2 sales. This could potentially boost Brookfield's portfolio and future performance.
Brookfield's recent acquisition of American Equity Investment, which has shown strong Q2 sales, could potentially enhance Brookfield's portfolio and positively impact its future performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70