Brookfield Announces Strong Year-End 2024 Results with Major Acquisition Boost
Deal News | Feb 13, 2025 | Brookfield Public Securities G
Brookfield Wealth Solutions reported robust financial results for the year ended December 31, 2024, doubling the size of its business over the past year. The company completed the acquisition of American Equity Investment Life Holding Company, significantly enhancing its asset portfolio. Financial highlights include total assets reaching $140 billion, adjusted equity increasing to $12.8 billion, and net income rising to $1.2 billion for 2024. The company generated $19 billion in annuity and pension risk transfer sales and closed its first U.K. reinsurance transaction. Brookfield announced a 13% increase in its quarterly distribution, evidencing its strong liquidity position and future growth potential as it prepares to expand internationally in 2025.
Sectors
- Financial Services
- Insurance and Annuities
- Investment and Asset Management
Geography
- North America – Brookfield is based in North America and derives significant business and growth from this region.
- United Kingdom – The company completed its first reinsurance transaction in the U.K., indicating its geographical expansion.
Industry
- Financial Services – Brookfield Wealth Solutions operates in the financial services industry, focusing on wealth protection, retirement services, and investment management.
- Insurance and Annuities – The acquisition of American Equity Investment Life Holding Company and growth in annuity and pension risk transfer sales highlight the company's involvement in insurance and annuities.
- Investment and Asset Management – Brookfield's significant asset portfolio management and strategic investment activities classify it within investment and asset management.
Financials
- $140,460 million – Total assets as of December 31, 2024, reflecting growth from the acquisition and business operations.
- $12,872 million – Adjusted equity for the year ended December 31, 2024.
- $1,247 million – Net income for the year ended December 31, 2024.
- $19 billion – Total annuity and pension risk transfer sales generated in 2024.
- $31 billion – Liquid assets available as of December 31, 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Brookfield Wealth Solutions | Company | Target | A company focused on wealth protection and retirement services, part of the Brookfield Corporation. |
| American Equity Investment Life Holding Company (AEL) | Company | Target Company | An insurance and annuity company acquired by Brookfield Wealth Solutions in 2024. |
| Brookfield Corporation | Company | Parent Company | The parent company of Brookfield Wealth Solutions, providing strategic and operational oversight. |