Brookfield Reinsurance Records $128 Million of Net Income and Announces Regular Distribution [Financial Post (Toronto, Ontario, Canada)]
American National Group, Inc. (ANAT)
US:NASDAQ Investor Relations:
americannational.com/wps/portal/amnat/investor-relations-and-news
Company Research
Source: Financial Post
Sachin Shah, CEO of Brookfield Reinsurance, stated, “We continue to progress our previously announced transactions while maintaining high levels of liquidity within our investment portfolios. Accordingly, as interest rates rise, we have significant financial flexibility to invest for value.” Highlights Operating Update During the quarter, we received over $180 million of flow business under our existing reinsurance treaty with AEL, bringing total premiums reinsured to date to nearly $5 billion under our $10 billion reinsurance agreement. Our Canadian PRT business continues to be active in identifying opportunities, successfully bidding on $109 million of new transactions in the first quarter. We recognized $13 million of Distributable Operating Earnings (“DOE”) for the three months ended March 31, 2022 compared to $1 million in the prior year period. The increase was driven by net investment income on our corporate investments acquired over the last twelve months, that will be tra
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