Brookfield Reinsurance to Buy American National for $5.1 billion
GALVESTON -- In a momentous acquisition that affects hundreds of employees in the county, Brookfield Reinsurance today said it would buy Galveston-based American National Group for $5.1 billion.
Brookfield Reinsurance (NYSE:BAMR) intends to maintain American National’s headquarters in Galveston and its presence in League City, as well as its operational hubs in Springfield, Missouri and Albany, New York. The company would continue American National’s longstanding involvement with its local communities, Sachin Shah, CEO of Brookfield Reinsurance said.
“This is an energizing moment in American National’s history,” Jim Pozzi, pesident and CEO of American National said. “ Our two companies share a long-term view of building strong, enduring businesses. Brookfield Reinsurance has been very clear: they want us to continue to grow our business, together with our leadership team and our excellent team of employees and distribution partners.”
American National (NASDAQ:ANAT) is a family of companies founded in 1905 by W.L. Moody Jr.
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