NEW YORK (S&P Global Ratings) Oct. 19, 2020--S&P Global Ratings said today that it expects American Equity Investment Life Holding Co.'s (AEL; BBB-/Stable/--) capital to remain strong after AEL announced it will partner with Brookfield Asset Management. AEL has announced its intent to partner with Brookfield Asset Management in a reinsurance transaction for $5 billion of existing annuity liabilities and up to an incremental $5 billion of flow reinsurance on new annuity sales. Brookfield will also acquire a 19.9% ownership interest in AEL. At the same time, AEL has rejected Athene and MassMutual's acquisition offer made public earlier this month. This partnership will allow AEL to leverage Brookfield's alternative asset management expertise, free up capital by lowering risk on its
