Streetbeat News

BNRE

Brookfield Reinsurance Ltd.

https://bamr.brookfield.com

Industry

Insurance - Reinsurance

Brookfield Asset Management Reinsurance Partners Ltd., through its subsidiaries, provides annuity-based reinsurance products to insurance and reinsurance companies. The company operates in two segments, Reinsurance and Pension Risk Transfer. It also acts as a direct issuer of pension risk transfer products for pension plan sponsors. The company was incorporated in 2020 and is headquartered in Pembroke, Bermuda.

Open

47.72

Mkt cap

6.9B

Volume

6.9K

High

48.18

P/E Ratio

4.90

52-wk high

50.76

Low

47.12

Div yield

0.01

52-wk low

29.00

Truist Securities analyst Mark Hughes has downgraded American Equity Investment Life Holding Co (AEL) to Hold from Buy, with an increased price target of $55. Hughes expects AEL's acquisition by Brookfield Reinsurance Ltd (BNRE) to be completed at the current offer price of ~$4.3 billion. AEL shareholders will receive $55.00 per AEL share, consisting of $38.85 in cash and 0.49707 of Brookfield Asset Management Ltd. (BAM) shares. Hughes estimates EPS of $6.30 in 2023 and $6.70 in 2024.

Portfolio Pulse from Lekha Gupta

July 14, 2023 | 6:34 pm

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.

Portfolio Pulse from Lekha Gupta

July 12, 2023 | 10:45 am

RBC Capital Markets analyst Scott Heleniak has downgraded American Equity Investment Life Holding Co (AEL) to Sector Perform from Outperform, increasing the price target to $55 from $50. This follows AEL's acceptance of Brookfield Reinsurance Ltd's (BNRE) acquisition offer of approximately $4.3 billion. AEL shareholders will receive $55.00 per share, consisting of $38.85 in cash and 0.49707 of Brookfield Asset Management Ltd. (BAM) shares. The analyst does not foresee any regulatory hurdles and does not expect a higher bidder.

Portfolio Pulse from Lekha Gupta

July 06, 2023 | 5:57 pm

Brookfield Reinsurance Ltd (BNRE) has agreed to acquire American Equity Investment Life Holding (AEL) for approximately $4.3 billion. AEL shareholders will receive $55.00 per share, a premium of 35% to the closing price as of June 23, 2023. The merger is expected to be completed in the first half of 2024, with AEL shares being delisted from the NYSE. AEL has also agreed to suspend the payment of dividends on its common stock through the closing of the transaction.

Portfolio Pulse from Akanksha Bakshi

July 05, 2023 | 2:20 pm

Brookfield Reinsurance has agreed to acquire AEL in a $4.3 billion transaction. Each AEL shareholder will receive $55.00 per share, consisting of $38.85 in cash and 0.49707 of a Brookfield Asset Management Ltd. share. This represents a 35% premium to AEL's closing share price on June 23, 2023, and a 42% premium to AEL's 90-day VWAP as of the same date.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 10:02 am

American Equity Investment Life Holding Co (AEL) shares are up 15% after receiving a $55 per share acquisition proposal from Brookfield Reinsurance Ltd (BNRE). The deal represents a 35% premium to the closing price as of June 23, 2023, and a 42% premium to the 90-day VWAP for AEL shares.

Portfolio Pulse from Lekha Gupta

June 27, 2023 | 11:49 am

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