Brookfield Reinsurance has embarked on a rapid growth trajectory defined by transformative mergers and acquisitions since its inception in 2020. The most pivotal of these deals was the 2022 $5.1 billion purchase of American National Insurance, marking a watershed moment for Brookfield to expand its multi-line insurance offerings.
Founded in 1905, American National Insurance brought over a century of experience to the table with its presence across all 50 U.S. states. Integrating American National’s expertise in life insurance, annuities, property, and casualty immediately widened Brookfield Reinsurance’s capabilities and geographic scope. Forbes recently named American National one of America’s Best Insurance Companies for 2024, underscoring its strong reputation for customer service and policy value.
On the heels of this landscape-changing deal, Brookfield Reinsurance continued its acquisition spree by snapping up Argo Group International Holdings in a $1.1 billion agreement set for completion in November 2023. Adding Argo’s niche property and casualty platform aims to further diversify Brookfield’s solutions in this vital sector.
Brookfield Reinsurance also has a $4.3 billion purchase of American Equity Investment Life Holding Company on tap for 2024. This annuities-focused firm would nicely complement Brookfield’s push into retirement income offerings.
Once the American Equity Investment Life acquisition concludes, Brookfield Reinsurance will have invested over $10 billion into its expansion ambitions. It is projected to oversee more than $100 billion in total assets under management. Strategically integrating these marquee names intends to transform Brookfield Reinsurance into an insurance juggernaut.
Pursuing established insurers aligns with Brookfield Reinsurance’s aim of acquiring and operating blue-chip industry players. Providing access to its parent company, Brookfield Corporation’s investment pipeline, can unlock its growth potential. Nurturing the talent and capabilities of these acquired companies while exploring new opportunities spots Brookfield well for the future.
Brookfield Reinsurance aspires to cultivate insurers over the long haul by concentrating on shareholder returns while still delivering for policyholders. With nearly $100 billion in assets after the American National Insurance deal, it prioritizes scale, risk optimization, and investment performance across business lines.
American National Insurance represented the crown jewel purchase to catalyze Brookfield Reinsurance’s insurance expansion. Adding its time-tested experience, geographic breadth, and stellar reputation, it offered a perfect platform for growth. Subsequent agreements with respected names like Argo Group and American Equity Investment Life promise to augment Brookfield Reinsurance’s insurance empire.