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Press Releases 2021 Brookfield Reinsurance Announces Second Quarter Results and Regular Distribution View Associated Files Aug 12 2021 BROOKFIELD , NEWS , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) -- Brookfield Asset Management Reinsurance Partners Ltd. ( " Brookfield Reinsurance " ) ( NYSE , TSX : BAMR ) today announced financial results for the quarter ended June 30 , 2021 . Sachin Shah , CEO of Brookfield Reinsurance , stated , " We are pleased to report our first quarterly earnings since the launch of Brookfield Reinsurance as a public company . We were established by Brookfield to own and operate a diversified insurance and reinsurance portfolio and are a paired security to BAM's Class A Shares . As a result , we benefit significantly from Brookfield's financial strength and investment capabilities . We are off to a strong start , with agreements to manage $ 40 billion of insurance assets , and we have significant capital available to deploy into a large pipeline of investment opportunities as we grow this business . " Unaudited As at and for the periods ended June 30 ( US $ millions , except per share amounts ) Equity Excess capital Net reserve capital Funds from operations ( " FFO " ) 1 Returns on reserve capital Net income ( loss ) Net income per class A & class B share² Net income per class C share² Three Months Ended Six Months Ended 2021 2020 2021 $ 1,252 $ 62 112 1,140 112 62 1,252 $ 1,140 ☐ 3 ( 1 ) ( 6 ) % 6 2020 62 62 ( 1 ) ( 3 ) % KRETER 2 11 % 11 % 2 $ ( 1 ) $ 5 $ ( 1 ) n / a n / a n / a n / a 1. See Basis of Presentation on page 6 and a reconciliation from net income ( loss ) on page 5 . 2. For the period from June 28 , 2021 to June 30 , 2021 . Highlights We successfully completed the launch of Brookfield Reinsurance We have significant capital in place to support our reinsurance activities at strong risk - based capital ratios We have announced agreements to insure or reinsure over $ 40 billion of policyholder contracts while continuing to grow and scale our pension risk transfer ( " PRT " ) business with 16 transactions signed to date during 2021 At quarter end , we held $ 1.1 billion in excess capital which will support our previously announced reinsurance agreement with American Equity Life ( " AEL " ) , expected to close in the third quarter Subsequent to quarter end , we entered into a definitive agreement to acquire a 100 % interest in American National Group , Inc. ( " American National " ) Update on Growth Initiatives On August 9 , 2021 , we announced that we have entered into a definitive merger agreement pursuant to which we have agreed to acquire American National in an all - cash transaction valued at approximately $ 5.1 billion , representing a 100 % ownership interest in the company . This acquisition meets our strategic objective of expanding our U.S. operations , and will serve as a platform for future growth . American National represents an attractive platform opportunity for Brookfield Reinsurance , given its conservative risk culture , long - term focus and existing leadership team . The merger is expected to close in the first half of