BROOKFIELD ASSET MANAGEMENT LTD Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Alexander Blostein - Goldman Sachs - Analyst : Hey, good morning. Thanks, Alex Blostein from Goldman Sachs. I had a question around insurance. It, it's a huge driver of growth for you guys for the next five years. I think $250 billion I think 50-ish or so, you said third party. So that kind of leaves [200] from kind of captive insurance. That implies quite considerable amount of, I guess acquisitions. So kind of how do you think about capacity to due deals? And given the fact that Brookfield is still relatively new to the insurance base against some of the larger competitors, what gives you guys kind of the right to win in the insurance space? Connor Teskey - BROOKFIELD ASSET MANAGEMENT LTD - President of the Manager and Chief Executive Officer - Renewable Power & Transition Certainly. So the Brookfield Corporation team is coming on next and they'll highlight some of the growth initiatives in insurance, but it's really two things and then I'll leave it to them. One, there's an incredible organic growth through the three different businesses they have acquired in recent years, that's writing $15 billion to $20 billion of annuities on a run rate basis. That's about half that number right there. And then secondly, there's the opportunities to keep doing bulk transactions of reinsurance blocks. So those are the two big ones. And then obviously there, there's always opportunistic M&A upside as they have demonstrated pretty actively over the last couple of years.