American Equity Investment Life Insurance Company upgraded to ‘A’ rating by S&P

Brookfield Reinsurance announces that its wholly-owned subsidiary, American Equity Investment Life Insurance Company (AEL), has been upgraded in its Insurer Financial Strength rating by S&P Global Ratings, advancing from ‘A-‘ to ‘A’.

This upgrade underscores AEL’s vital role within the broader Brookfield Reinsurance group and its ability to leverage the strong financial position and successful earnings history of Brookfield Reinsurance.

Meanwhile, American National Insurance Company’s rating remains steady at ‘A’, with the removal of credit watch, following Brookfield Reinsurance’s acquisition of American Equity Investment Life Holding Company (AEILHC).

Consequently, the senior bonds of AEILHC will receive a rating boost from ‘BBB-’ to ‘BBB’, while the outstanding preferred shares of AEILHC will rise from ‘BB’ to ‘BB+’.

S&P has also reaffirmed the rating for American National Group LLC’s existing senior bonds at ‘BBB’, with credit watch removed.

Furthermore, Fitch Ratings has upgraded AEILHC’s existing senior unsecured notes to ‘BBB’ from ‘BBB-’ and its preferred shares to ‘BB+’ from ‘BB’.

The post American Equity Investment Life Insurance Company upgraded to ‘A’ rating by S&P appeared first on ReinsuranceNe.ws.

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