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American Equity Investment Life Holding Co
American Equity Investment Life Holding Company (NYSE: AEL) is a publicly traded company that specializes in fixed and fixed-indexed annuities, longevity reinsurance, and life insurance. The company was founded in 1995 and is headquartered in West Des Moines, Iowa. American Equity has operations throughout the United States and serves the financial services market.
As of March 11, 2023, American Equity had a market capitalization of $4.67 billion and was listed under the NYSE stock exchange with the ticker symbol AEL.
American Equity has demonstrated consistent revenue growth over the years thanks to its focus on fixed and fixed-indexed annuities, which provide investors with stable returns and tax-deferred benefits. The company's commitment to customer service and innovative product design has enabled it to establish a robust distribution network of independent agents, national broker-dealers, and banks. This network has contributed to American Equity's expanded presence in the market.
For the fourth quarter of 2022, American Equity reported an adjusted operating income of $78.5 million, surpassing the Zacks Consensus Estimate by $0.31 per share. Pre-tax returns for the quarter were 10.2%, compared to 8.1% in the previous quarter and 11.6% in the fourth quarter of 2021. Additionally, book value per share outstanding increased 10.3% from the previous quarter.
American Equity has demonstrated consistent revenue growth over the years thanks to its focus on fixed and fixed-indexed annuities, which provide investors with stable returns and tax-deferred benefits. The company's commitment to customer service and innovative product design has enabled it to establish a robust distribution network of independent agents, national broker-dealers, and banks.
Key highlights from the company's fourth-quarter 2022 results include:
* An increase in book value per share outstanding of 10.3% from the previous quarter
* A pre-tax return of 10.2%, compared to 8.1% in the previous quarter and 11.6% in the fourth quarter of 2021
* Adjusted operating income of $78.5 million, surpassing the Zacks Consensus Estimate by $0.31 per share
* A 31% year-over-year increase in new sales to $2.2 billion
* A 10.1% year-over-year increase in collected premiums to $2.4 billion
*An increase in return on equity from the previous quarter, mainly due to higher-than-expected average stock prices.
* Expanded presence in the market through a robust distribution network of independent agents, national broker-dealers, and banks
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