AMERICAN EQUITY INVESTMENT LIFE HOLDING CO FILES (8-K) Disclosing Other Events

Item 8.01 Other Events.

American Equity to issue approximately $250 million of common stock to

                             Brookfield Reinsurance
        Increases Brookfield Reinsurance stake in AEL to approximate 16%
On December 29, 2021, American Equity Investment Life Holding Company (the
"Company") and Brookfield Asset Management Reinsurance Partners Ltd. (together
with its affiliates, "Brookfield Reinsurance") received regulatory approval for
Brookfield Reinsurance to increase its Company common stock ownership.
Brookfield Reinsurance currently owns approximately 9.85% of the Company's
issued and outstanding common stock, purchased in accordance with the terms of
its previously-announced Investment Agreement with the Company. In accordance
with the terms of the Investment Agreement, Brookfield Reinsurance has elected
to purchase additional shares to bring its total combined ownership to
approximately 16% of Company common stock. As a result, the Company expects to
issue 6,775,000 shares of its common stock to Brookfield Reinsurance at $37.33
per share, the Company's adjusted book value as of September 30, 2021, in the
upcoming business days.
The Company will use its $736 million outstanding share repurchase authorization
to offset the Brookfield Reinsurance issuance dilution and to return capital to
shareholders.
The latest issuance will be exempt from registration under the Securities Act of
1933, as amended (the "Securities Act"), pursuant to Section 4(a)(2) of the
Securities Act. Brookfield Reinsurance represented to the Company that it is an
"accredited investor" as defined in Rule 501 of the Securities Act and that it
is acquiring the common stock for investment purposes and not with a view to, or
for sale in connection with, any distribution thereof. The Company will affix
appropriate legends to any certificates evidencing shares it issues to
Brookfield Reinsurance.
The forward-looking statements above, such as expects and will, are based on
assumptions and expectations that involve risks and uncertainties, including the
"Risk Factors" American Equity describes in its U.S. Securities and Exchange
Commission filings. American Equity's future results could differ, and it has no
obligation to correct or update any of these statements.

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