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American Equity Investment Life Holding Company (NYSE: AEL) is a leading American-based issuer of fixed index annuities, dedicated to providing reliable retirement planning solutions. Headquartered in West Des Moines, Iowa, with additional offices in Charlotte, New York, and Miami, American Equity is committed to delivering financial security and peace of mind to its policyholders. The company collaborates with over 40,000 independent agents and advisors, affiliated with independent marketing organizations (IMOs), banks, and broker-dealers, to offer tailored annuity products that meet the unique financial needs of its clients.
American Equity's success is underscored by its robust financial performance, as evidenced by its impressive growth in FIA sales, which reached an all-time high of $7 billion in 2023. This milestone reflects the company's strategic focus on guaranteed retirement income products and its innovative investment strategies that emphasize insurance liability-driven asset allocation. Additionally, American Equity has strategically partnered with renowned fixed income asset managers to enhance its investment portfolio, achieving a 25.8% allocation to private assets by the end of 2023.
The company's recent achievements include a significant increase in net investment income and the successful completion of a second Vermont-domiciled redundant reserve financing facility. These accomplishments have fortified American Equity's capital position, providing substantial liquidity to capitalize on emerging investment opportunities while ensuring financial resilience. Moreover, American Equity's strategic partnership with Brookfield Reinsurance (NYSE, TSX: BNRE) is expected to culminate in a merger in the first half of 2024, further solidifying its market leadership and enhancing value creation for shareholders.
American Equity's unwavering commitment to customer service and its innovative approach to retirement planning have earned it a reputation as a trusted partner in financial dignity. For more information, please visit the company's website at www.american-equity.com.
American Equity Investment Life Holding Company (AEL) reported a Q4 2022 net loss of $(29.4) million, or $(0.34) per diluted share, a stark contrast to a net income of $82.2 million, or $0.88 per share in Q4 2021. Non-GAAP operating income fell to $67.9 million, or $0.79 per share, from $75.8 million in the same quarter last year. The company sourced approximately $1.4 billion in private assets, increasing total portfolio allocation to 22%. Q4 FIA sales grew 7% sequentially to $783 million. Despite a decline in investment returns, AEL's management expressed confidence in their AEL 2.0 strategy and forecast continued long-term shareholder value.
American Equity Investment Life Holding Company (NYSE: AEL) declared cash dividends for its Preferred Stocks. Series A Preferred Stock will pay $371.875 per share, equivalent to $0.371875 per Depositary Share, while Series B Preferred Stock will distribute $414.0625 per share, or $0.4140625 per Depositary Share. Both dividends are payable on
American Equity Investment Life Holding Company (NYSE: AEL) is set to release its fourth quarter 2022 earnings after the market closes on February 16. A financial supplement will be accessible on their investor relations website. Following this, a conference call will be held on February 17 at 10:00 a.m. CT to discuss the results, financial condition, and future strategies. The company emphasizes its commitment to policyholders as it transitions to a stronger focus on liability-driven investment strategies. Risks associated with future performance will be discussed, along with regulatory considerations.
Prosperity Group Holdings LP reaffirmed its interest in acquiring American Equity Investment Life Holding Company (AEL) through a recent press release. Prosperity's initial acquisition offer on December 8 was rejected within three business days without engagement. A subsequent letter on December 19 expressed a willingness to improve the offer, emphasizing potential added value for AEL shareholders. However, this proposal also faced a swift rejection. Prosperity remains committed to pursuing a constructive dialogue with AEL to explore value-creation opportunities for shareholders.
American Equity Investment Life Holding Company (NYSE: AEL) rejected a $45.00 per share acquisition proposal from Prosperity Group Holdings and Elliott Investment Management, considering it significantly undervalued. The Board, chaired by David S. Mulcahy, emphasized its commitment to maximizing shareholder value through its AEL 2.0 strategy. CEO Anant Bhalla highlighted consistent growth and focus on customer needs, backed by independent financial advice. The company is set to enhance its operational base with upcoming offices in Charlotte and New York.
American Equity Investment Life Holding Company (NYSE: AEL) will host an "Investor Symposium" on December 7, 2022, from 3:00 pm to 5:00 pm ET. The event will feature keynote speakers including Anant Bhalla, CEO, and Axel Andrè, CFO, among others. Participants can register for telephonic and online access through the company’s IR website. Following the presentations, an audio replay will be available for 30 days at the same link. American Equity focuses on financial dignity solutions through general account annuities.
American Equity Investment Life Holding Company (NYSE: AEL) has authorized an additional $400 million common stock buyback, part of its ongoing AEL 2.0 strategy initiated in October 2020. This new measure increases the total share repurchase authorization to $594 million. The buyback aims to enhance shareholder value and reflects the company's commitment to managing its capital effectively.
American Equity (NYSE: AEL) has announced a strategic partnership with 26North Partners LP to enhance its AEL 2.0 strategy and generate shareholder value. This collaboration involves a long-term investment and the reinsurance of approximately
American Equity Life (AEL) reported strong Q3 2022 results with a net income of $301.7 million, or $3.41 per share, a significant increase from $141.9 million in Q3 2021. Non-GAAP operating income was $87.4 million, or $0.99 per diluted share. The company ranked #1 in customer satisfaction per J.D. Power's 2022 study. AEL repurchased $154 million worth of shares in Q3, totaling $522 million for the year. Investment strategies showed promising results with a 2.73% investment spread. However, sales of fixed index annuities (FIAs) fell 6% from the previous quarter.
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