AMERICAN EQUITY INVESTMENT LIFE HOLDING CO

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

ANG-PD$22.59+3.2%Stored close · as of Nov 9, 2026

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Contents

Consolidated Balance Sheets

(Dollars in thousands, except share and per share data)

	December 31,
	2023	2022 (a)
Assets
Investments:
Fixed maturity securities, available for sale, at fair value (amortized cost of $38,537,462 as of 2023 and $44,866,019 as of 2022; allowance for credit losses of $4,030 as of 2023 and $3,347 as of 2021)	$34,780,482		$39,804,617
Mortgage loans on real estate (net of allowance for credit losses of $38,135 as of 2023 and $36,972 as of 2022)	7,537,594		6,949,027
Real estate investments (2023 and 2022 include $1,327,704 and $1,056,063 related to consolidated variable interest entities)	1,334,247		1,056,063
Limited partnerships and limited liability companies (2023 and 2022 include $506,685 and $684,834 related to consolidated variable interest entities)	1,089,591		1,266,779
Derivative instruments	1,207,288		431,727
Other investments	2,277,822		1,817,085
Total investments	48,227,024		51,325,298
Cash and cash equivalents (2023 and 2022 include $35,745 and $27,235 related to consolidated variable interest entities)	9,772,586		1,919,669
Coinsurance deposits (net of allowance for credit losses of $1,149 as of 2023 and $8,737 as of 2022)	14,582,728		13,254,956
Market risk benefits	479,694		229,871
Accrued investment income (2023 and 2022 include $2,862 and $3,444 related to consolidated variable interest entities)	459,332		497,851
Deferred policy acquisition costs	3,070,280		2,773,643
Deferred sales inducements	2,367,224		2,045,683
Deferred income taxes	152,652		438,434
Income taxes recoverable	37,854		55,498
Other assets (2023 and 2022 include $18,681 and $10,690 related to consolidated variable interest entities)	768,928		642,696
Total assets	$79,918,302		$73,183,599

CONSOLIDATED BALANCE SHEETS

(Dollars in thousands, except share and per share data)

	December 31,
	2023	2022 (a)
Liabilities and Stockholders' Equity
Liabilities:
Policy benefit reserves	$60,901,641		$58,781,836
Market risk benefits	3,146,554		2,455,492
Other policy funds and contract claims	188,856		512,790
Notes and loan payable	785,443		792,073
Subordinated debentures	79,107		78,753
Funds withheld for reinsurance liabilities	8,596,373		6,577,426
Other liabilities (2023 and 2022 include $93,520 and $78,644 related to consolidated variable interest entities)	3,172,554		1,614,479
Total liabilities	76,870,528		70,812,849
Stockholders' equity:
Preferred stock, Series A; par value $1 per share; $400,000 aggregate liquidation preference; 20,000 shares authorized; issued and outstanding: 2023 and 2022 - 16,000 shares	16		16
Preferred stock, Series B; par value $1 per share; $300,000 aggregate liquidation preference; 12,000 shares authorized; issued and outstanding: 2023 and 2022 - 12,000 shares	12		12
Common stock; par value $1 per share; 200,000,000 shares authorized; issued and outstanding: 2023 - 79,337,818 shares (excluding 30,765,023 treasury shares); 2022 - 84,810,255 shares (excluding 24,590,353 treasury shares)	79,338		84,810
Additional paid-in capital	1,071,103		1,325,316
Accumulated other comprehensive loss	(2,979,657)		(3,746,230)
Retained earnings	4,852,448		4,685,593
Total stockholders' equity attributable to American Equity Investment Life Holding Company	3,023,260		2,349,517
Noncontrolling interests	24,514		21,233
Total stockholders' equity	3,047,774		2,370,750
Total liabilities and stockholders' equity	$79,918,302		$73,183,599

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.