American Equity Investment Life Holding Company - AEL STOCK NEWS

American Equity Investment Life Holding Company (NYSE: AEL) announced a $1 billion investment in Monroe Capital's technology lending platform, focusing on middle market Software, Technology and Recurring Revenue (STARR) loans. This partnership aims to enhance American Equity's asset allocation towards private assets, with a specific emphasis on companies with recurring revenue models. The move reflects their strategy to tap into the resilient U.S. economy's technology sector, similar to the healthcare sector's growth over the past decade.

American Equity Investment Life Insurance Company (NYSE: AEL) has committed over $1 billion to support Pretium in acquiring Anchor Loans, a leading provider of financing to residential real estate investors. This partnership enhances AEL’s existing collaboration with Pretium, which manages approximately $30 billion in assets. The deal aims to strengthen AEL’s investment strategy focused on high-quality residential real estate assets. AEL's investment is seen as a pathway to achieving its growth objectives while supporting the housing industry.

American Equity Investment Life Holding Company (NYSE: AEL) has declared cash dividends for its Fixed-Rate Reset Non-Cumulative Preferred Stocks. The Series A Preferred Stock will pay $371.875 per share, equivalent to $0.371875 per Series A Depositary Share, while the Series B Preferred Stock will pay $414.0625 per share, equivalent to $0.4140625 per Series B Depositary Share. Both dividends are payable on December 1, 2021, to shareholders of record as of November 15, 2021.

American Equity Investment Life Holding Company (NYSE: AEL) has finalized a reinsurance deal with North End Re (Cayman) SPC, a subsidiary of Brookfield Asset Management Reinsurance Partners Ltd. (NYSE: BAMR). The agreement involves ceding up to $10 billion in liabilities including $4 billion in statutory reserves for the 'IncomeShield' product and $6 billion in future reserves. The transaction will enable American Equity to transfer $3.8 billion in cash and release over $200 million in capital, enhancing its flexibility for future annuity growth.

American Equity Investment Life Holding Company (NYSE: AEL) will release its third quarter 2021 earnings after market close on November 8, 2021. Following the release, the company will host a conference call on November 9, 2021, at 8:00 a.m. CT to discuss its financial results, business condition, and future outlook. Investors can access the earnings release on the company's website. Forward-looking statements may be included, which involve risks and uncertainties.

American Equity Investment Life Holding Company (NYSE: AEL) has announced a strategic partnership with BlackRock and Conning to manage its core fixed income assets. This transition, set to begin in Q4, aligns with AEL's AEL 2.0 strategy, focusing on increasing private asset allocations to 30-40%. Chief Investment Officer Jim Hamalainen highlighted plans to enhance investment management expertise while migrating core management to these firms by early 2022. This initiative aims to bolster AEL's capabilities in private asset management and asset allocation.

American Equity Investment Life Holding Company (NYSE: AEL) announced the appointment of Axel André as its new Chief Financial Officer, effective September. CEO Anant Bhalla expressed confidence in André's leadership capabilities as the company aims to enhance its insurance and asset management strategy. André brings extensive experience from Jackson National and AIG, where he held various senior finance roles. He holds a PhD in Physics from Harvard and a Master's from Imperial College in London.

American Equity Investment Life Holding Company (NYSE: AEL) announced that CEO Anant Bhalla will participate in a fireside chat at the 2021 Virtual KBW Insurance Conference on September 10 at 10:30 a.m. ET. The discussion will cover the company’s financial condition, operations, and future strategies, including forward-looking statements subject to risks and uncertainties. Interested parties can access the webcast on American Equity’s website, with a replay available for 30 days post-event.

American Equity specializes in fixed index annuities through independent agents and is headquartered in West Des Moines, Iowa.

American Equity Investment Life Holding Company (NYSE: AEL) reported a second quarter 2021 non-GAAP operating income of $93.8 million, or $0.98 per diluted share, slightly up from $93.1 million, or $1.01 per share, a year earlier. The increase stemmed from a $61 million decrease in the liability for future policy benefits. However, the investment spread fell to 1.95% from 2.39% year-over-year. The company continues to ramp up private asset allocations, having invested over $800 million so far this year. Funds under management saw a 1.5% increase, totaling $56.6 billion, driven by strong sales of fixed index annuities.