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Reuters
Brookfield reinsurance unit to buy American National for $5.1 billion
Started in 1905 by William Lewis Moody Jr., American National is majority-owned by the founder’s family, which controls the company through a range of trusts and holdings. American International Group, for example, plans to use an initial public offering to sell part of its life and retirement business, while Blackstone Group last month agreed to buy a sizeable stake. Canada’s Brookfield said in October it would acquire a stake in American Equity Investment Life Holding Co and grant the fixed index annuity provider access to Brookfield’s alternative assets.
