American Equity Investment Life Holding Company - AEL STOCK NEWS

American Equity Investment Life Holding Company (NYSE: AEL) has rescheduled its conference call to discuss second quarter financial results, business, and operations. The call will now take place on Friday, August 6, 2021, at 10:00 a.m. CT. This follows the release of financial results after market close on Thursday, August 5, 2021. Interested parties can listen via phone or through a webcast on their official website, with an audio replay available until August 13, 2021.

American Equity Investment Life Holding Company (NYSE: AEL) will release its second quarter 2021 earnings on August 5, 2021, after market close. The financial results will be available on their website. A conference call is scheduled for August 6, 2021, at 9:00 a.m. CT to discuss these results, along with business updates and future outlook. Interested participants can join via phone or listen through a live webcast. An audio replay will be available following the call until August 13, 2021.

American Equity Investment Life Holding Company (NYSE: AEL) announced that CEO Anant Bhalla will also serve as interim CFO, effective immediately. Ted Johnson has departed from the CFO role but will assist in the transition until late 2021 before leaving the company. A formal search for a new CFO has begun, with Egon Zehnder engaged for the process. This leadership change comes as the company continues to focus on its core business of fixed index annuities through independent agents.

American Equity Investment Life Holding Company (AEL) reported a strong first quarter 2021, with net income reaching $271.8 million, or $2.82 per diluted share, up from $236.3 million a year prior. However, non-GAAP operating income fell to $41.4 million from $154.1 million, mainly due to lower investment spread income and increased operating expenses. Investment spread decreased to 2.00% from 2.64% year-over-year. Policyholder funds under management grew by 3.2% to $55.8 billion, with record gross sales of $2.4 billion.

American Equity Investment Life Holding Company (NYSE: AEL) has declared cash dividends for its preferred stocks. For the 5.95% Series A Preferred Stock, a dividend of $371.8750000 per share (or $0.371875000 per depositary share) will be paid on June 1, 2021, to shareholders of record as of May 15, 2021. Similarly, a dividend of $414.0625000 per share (or $0.414062500 per depositary share) for the 6.625% Series B Preferred Stock is also scheduled for the same date. Both series are listed on the NYSE under their respective symbols.

American Equity Investment Life Holding Company (NYSE: AEL) will release its first quarter 2021 earnings after market close on May 5, 2021, followed by a conference call on May 6 at 10:00 a.m. CT. The earnings release and financial supplement will be available on their website. Interested parties can join the conference call via phone or webcast, with an audio replay accessible until May 13, 2021. AEL is a prominent issuer of fixed index annuities, operating through independent agents, banks, and broker-dealers.

American Equity Investment Life Holding Company (NYSE: AEL) has appointed Phyllis Zanghi as executive vice president and chief legal officer effective immediately. Zanghi will oversee legal, compliance, regulatory, and corporate secretary functions, reporting to President and CEO Anant Bhalla. With a robust background in the financial services sector, including key roles at Brighthouse Financial and MetLife, she is expected to enhance the strategic importance of the legal team at American Equity. Zanghi holds advanced degrees in tax law and has significant experience in corporate M&A transactions.

American Equity Investment Life Insurance Company announced enhancements to its AssetShield fixed index annuity, introducing new equity and multi-asset index options. This product line, available in 5, 7, and 10-year terms, aims to offer clients enhanced growth potential. The new BofA Destinations Index, Credit Suisse Tech Edge Index, and SG Global Sentiment Index are now included. A new rider option allows clients to magnify growth potential for a fee, providing more control over investment strategies. These changes reflect American Equity's commitment to diversifying client choices and ensuring secure asset growth.

American Equity Investment Life Holding Company (NYSE: AEL) reported a fourth quarter 2020 net loss of $6.3 million, or $(0.07) per diluted share, down from a net income of $220.2 million, or $2.40 per diluted share, in the same quarter of 2019. For the year ended December 31, 2020, net income rose to $637.9 million from $246.1 million in 2019. However, non-GAAP operating income for Q4 2020 decreased to $71.7 million from $125.8 million in Q4 2019, primarily due to lower investment spread income and higher operating expenses. The investment spread dropped to 2.25% from 2.77% year-over-year.