Posted by (American Life Insurance Guide 08/26/2021 News)According to the announcement by American National Group, the reinsurance division of Brookfield Asset Management Group in Canada has agreed to acquire the National Insurance Group in cash for approximately $50 billion.
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American National American National Insurance Company
American National Insurance Company (NASDAQ: ANAT), Chinese provisional translationNational Insurance Company.
National Insurance CompanyFounded in 1905 and headquartered in Texas, the current company is approximately$300 billion in assets under management, Provide life insurance, annuity insurance, health insurance and property insurance in the United States, the District of Columbia and Puerto Rico.
American National transaction details
As part of the tender offer, shareholders of American National Insurance Company will trade at a stock price of $190 per share.As of press time, the stock price of National Insurance Company is $192.21.
The Wall Street Journal previously reported that the two companies had reached an agreement.
After the transaction is completed, American National Insurance Company will become a wholly-owned subsidiary of Brookfield Asset Management Reinsurance Partners Ltd. in Canada.
Brookfield said the group will currently retain the American National Insurance Company's headquarters in Texas and the existing US operations center. (End of full text)
