American Equity reports Q2 EPS $1.62, consensus $1.72

Reports Q2 revenue $851.6M, consensus $581.36M. American Equity’s President and CEO, Anant Bhalla stated: “AEL 2.0 is thriving with the business firing on all cylinders or components of our flywheel. New business sales of $2 billion in the second quarter is at nearly all-time highs for AEL. Private asset investments over $12 billion – or 25% of all invested assets on the balance sheet – and nearly $11 billion of account values ceded to reinsurance partners to earn “fee-like” revenues are both significant milestones in our transformation into a capital-light and more resilient, +12% ROE earning institution for the benefit of our shareholders. This is the vision that we shared 3 years ago, and we have delivered on it, ahead of schedule. Our Board of Directors and Management leadership are proud of the achievements of the AEL team and our network of business partners.”