Brookfield Asset Management Reinsurance, part of the Brookfield financial empire, is paying $5.1 billion for American National. What’s key is Brookfield’s taste for risk and the American National controlling family’s aversion to it, johnsfoley says.
, which reinvest policyholders’ contributions into their own deals. The sprawling Brookfield , which includes Oaktree Capital, has plenty to draw on, from infrastructure to private credit.
American National, majority owned by the Moody family, is unusually suitable. It pronounces itself conservatively run, reflected in its meager 7% average annual return on equity over the past three years. Brookfield can notch up risk while still playing it fairly safe. The Moodys' conservatism may explain the low valuation too. Even with a 55% premium, Brookfield is paying less than American National’s net assets, while insurers generally trade just above, according to Refinitiv. If not a profit gusher, the deal should provide at least a healthy trickle. Macquarie goes fishing in UK water dregs
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Texas Democrats who absconded to halt voting bill start to return homeTexas Democratic lawmakers who fled the state to block Republicans from passing a voting bill start to head home, securing a legal win that may allow them to return to the state and still obstruct legislation.
Consulte Mais informação »
Texas Democrats continue holdout, don’t show for new sessionTexas Democrats still refused to return to the state Capitol Saturday as Gov. Greg Abbott began a third attempt at passing new election laws, prolonging a monthslong standoff that ramped up in July when some Democratic state lawmakers fled the state and hunkered down in Washington. “A quorum is not present,” Republican House Speaker Dade Phelan said Saturday afternoon. Although the precise whereabouts of all of the more than 50 Democrats who bolted some 27 days ago was unknown, not enough of them showed up in the state House of Representatives to give Republicans the quorum required to begin work on a new special session.
Consulte Mais informação »
Batch of ready-to-eat Panera soup recalled after glove pieces foundA batch of ready-to-eat soup from Panera is being recalled after pieces of food-handling gloves were found in some of the containers shipped to grocery stores in 4 states, U.S. Food Safety and Inspection Service says.
Consulte Mais informação »
WSJ News Exclusive | American National Group to Be Sold to Brookfield Reinsurance ArmBrookfield’s reinsurance arm has agreed to buy American National Group for about $5 billion, according to people familiar with the matter
Consulte Mais informação »
The Comics Behind ‘The Suicide Squad’ Post-Credits ScenesHere is a look at the stories behind the characters that return after the credits role.
Consulte Mais informação »
President Biden praises Simone Biles, Team USA in virtual call with OlympiansPres. Biden praises Simone Biles, Team USA in virtual call with Olympians.
Consulte Mais informação »