American Equity posts Q4 GAAP net loss of $476M; record $7B annual FIA sales, merger on track

American National Group Inc.

2023-FY EPS reported $2.06 revenue$2,835,970,000

Q4 net loss available to common stockholders $(475.9)M ($6.04 diluted EPS), vs net income $21.7M ($0.25) in Q4 2022.
Non-GAAP operating income Q4: $159.6M ($1.99/share); full year 2023: $607.1M ($7.50/share).
Record FIA sales of $7.0B for 2023, up from $2.3B in 2020; income product sales up 4% sequentially.
Investment yield 4.65% (up 35 bps YoY); private assets 25.8% of portfolio; $7.4B cash at year-end.
Pending merger with Brookfield Reinsurance valued at ~$4.3B; expected close in H1 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

American National Group Inc. reported financial results for fourth quarter and year ended December 31, 2023.

Period: fourth quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On February 14, 2024, the registrant issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2023, a copy of which is attached as Exhibit 99.1 and is incorporated herein by reference.

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American National Group Inc. filing history →

Source: SEC EDGAR

accession 0001039828-24-000006

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