...August 29, 2024 NEW YORK (S&P Global Ratings) Aug. 29, 2024--S&P Global Ratings today said it views American National Group Inc.'s reinsurance transaction with Reinsurance Group of America as in line with American National's strategy to offer more asset-intensive life insurance, such as indexed universal life insurance. American National has reinsured approximately $3.5 billion of life reserves as part of the deal, primarily in term and universal life insurance. This transaction represents 53% of American National's life reserves, but on a consolidated group basis, it accounts for less than 5% of total reserves. American National will continue to administer the policies. The transaction closed Aug. 26, 2024, and became effective July 1, 2024. It does not affect our ratings on American National (###/Stable/--). Under Brookfield Wealth Solutions Ltd. (renamed from Brookfield Reinsurance Ltd. in July 2024), American National has refocused its strategic priorities on more stable and profitable...
