American Equity Investment Life Holding Company

What American Equity Investment Life Holding Company does

American Equity Investment Life Holding Company, operating through American Equity Investment Life Insurance Company (West Des Moines, Iowa), is a U.S. life insurer specializing in the development and distribution of fixed index annuities (FIA), fixed-rate annuities, and immediate annuities for the U.S. retirement market. The company was founded in 1995 by David J. Noble and has operated from Des Moines for more than three decades, building an in-force book that has funded 500,000+ retirements nationwide. Its FIA products (IncomeShield BONUS 10, IncomeShield 10, IncomeShield 9, and Estate Shield 10) credit interest based on external market indices such as the S&P 500 while preserving principal protection, tax-deferred accumulation, and optional guaranteed lifetime income, wellbeing, and estate/legacy riders. Underwriting, actuarial modeling, and product administration are run through wholly-owned operating subsidiaries including Eagle Life Insurance Company, Entrada Life Insurance Company, and American Equity Investment Life Insurance Company of New York.

The company generates revenue primarily through annuity premiums, net investment income on its general account, and reinsurance economics, with reported total revenue of $7.5B in 2024 and $7.5B in 2025 (vs. $3.4B in 2023), reflecting the impact of the 2024 Brookfield Wealth Solutions acquisition. Approximately $6B of reinsurance obligations are backed by excess-of-loss agreements with Brookfield Reinsurance. Distribution is conducted exclusively through independent insurance agents plus bank, brokerage, and mutual fund channels, supported by separate consumer and financial-professional digital portals and an online account management system (MyPortal). Multi-channel marketing emphasizes retirement planning thought leadership, financial literacy content, and trust-building earned media.

Financially, the company carries A (Excellent) ratings from AM Best (effective 11/27/2024), A from S&P Global (effective 5/6/2024), and A (Outlook Stable) from Fitch (effective 7/18/2025), and has been named to Newsweek's Most Trustworthy Companies in America for four consecutive years. Following the 2024 Brookfield Wealth Solutions transaction, the entity operates as a wholly-owned subsidiary within the Brookfield alternative asset management platform. Strategic positioning centers on steady in-force book accumulation, configurable FIA riders, and the regulatory and capital advantages of multi-agency A ratings supporting competitive distribution through independent producers.

Name

American Equity Investment Life Holding Company

Legal name

American Equity Investment Life Insurance Company

Website

https://american-equity.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

501–1,000 employees

Short description

American Equity Investment Life Holding Company is a U.S. life insurer that develops and distributes fixed index, fixed-rate, and immediate annuity products to individual retirees and pre-retirees, sold exclusively through independent insurance agents and financial institutions, and now operates as a wholly-owned subsidiary of Brookfield Wealth Solutions.

Ownership category

akta.pro rank

Product category

Annuity Insurance

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Fixed Indexed Annuities (FIA) (FSAIACAB)

akta.pro secondary industries

Fixed Annuities (FSAIACAA), Annuity Reinsurance (Immediate, Deferred, VA/GMxB) (FSAOAAAF)

Keywords

• Fixed index annuities
• Retirement income planning
• Annuity insurance products
• Lifetime income solutions
• Tax-deferred retirement

Headquarters

HQ city

West Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Annuity Premiums: Revenue is generated through annuity products where customers pay premiums (either single premium or recurring payments) in exchange for guaranteed income payments, principal protection, and tax-deferred growth. Fixed index annuities represent the primary product line.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

American Equity Investment Life Holding Company develops and sells fixed index annuities (FIAs), fixed-rate annuities, and immediate annuities to U.S. consumers, primarily individual retirees and pre-retirees seeking guaranteed lifetime income, principal protection from market volatility, and tax-deferred retirement growth. Its flagship FIA product families are the IncomeShield line (IncomeShield BONUS 10, IncomeShield 10, IncomeShield 9) and Estate Shield 10, distributed exclusively through independent insurance agents and partner financial institutions.

Product overview

American Equity Investment Life Insurance Company offers a focused portfolio of annuity products centered on fixed index annuities, fixed annuities, and immediate annuities. The company's flagship fixed index annuity products include the IncomeShield family (IncomeShield BONUS 10, IncomeShield 10, and IncomeShield 9), which provide principal protection, tax-deferred growth tied to market indices, and guaranteed lifetime income options. The Estate Shield 10 offers enhanced death benefits for legacy planning. These products are complemented by traditional fixed annuities with guaranteed interest rates and immediate annuities for those seeking immediate income payments. The company also provides online account management through MyPortal and sells through independent insurance agents nationwide. Member companies include Eagle Life Insurance Company and American Equity Investment Life Insurance Company of New York.

Differentiator

Problem solved

Functional benefit

Brands

• IncomeShield: Fixed index annuity product line including IncomeShield BONUS 10, IncomeShield 10, and IncomeShield 9 products.
• IncomeShield BONUS 10
• Estate Shield 10

Products and services

• Fixed Index Annuities (FIA) Annuities offering growth potential tied to market index performance such as the S&P 500 with principal protection from market volatility, tax-deferred growth, and guaranteed lifetime income options for retirement planning. Sold to U.S. individual consumers through independent insurance agents.
• Fixed Annuities Traditional fixed annuities providing steady, guaranteed interest accumulation over a set period with locked-in interest rates, offering consistent growth and protection during market volatility. Designed for individual retirees seeking predictable accumulation.
• Immediate Annuities Immediate annuities that begin paying regular income payments within the first contract year in exchange for a single premium payment, designed for near-retirees seeking immediate income streams.
• IncomeShield BONUS 10

Quantifiable outcome

• Funded 500,000+ retirements nationwide
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• New York Life Insurance Company: New York Life is the largest U.S. mutual life insurer with a substantial fixed-annuity and lifetime-income product set distributed through agents and advisors, providing scale-based competition for retirement-savings allocations.
• Prudential Financial: Prudential is a large diversified U.S. insurer with a meaningful individual-annuities business (including FIAs) distributed through financial professionals, providing overlapping retirement-income solutions at much larger scale than American Equity.
• Massachusetts Mutual Life Insurance Company (MassMutual): MassMutual is a top-tier U.S. mutual life insurer offering fixed and indexed annuities alongside a much broader portfolio of life, disability, and wealth-management products. It competes on FIA distribution via advisors and is a leading brand for retirement-income solutions.

Direct peers

• Global Atlantic Financial Group: Global Atlantic (majority-owned by KKR) is a top-10 U.S. annuity issuer with significant FIA and fixed-rate annuity production. It sells through independent advisors and represents direct competition for FIA-driven retirement-income policies.
• F&G Annuities & Life: F&G (formerly FGL Holdings, NYSE: FG) is a dedicated U.S. annuity and life-insurance carrier with a multi-channel distribution strategy including independent agents and financial institutions — a near-perfect structural peer to American Equity in product, channel, and rating profile.
• Brighthouse Financial: Brighthouse was spun off from MetLife in 2017 and is a major U.S. annuity carrier with material FIA and Shield-level annuity offerings, sold through independent advisors. It competes head-to-head with American Equity for retirement-income product shelf space.
• Lincoln Financial Group: Lincoln Financial is a major U.S. life-and-annuity carrier with material FIA, fixed, and indexed universal life offerings distributed through financial advisors and independent producers, competing for retirement-income allocations.
• Athene Holding: Athene is the largest U.S. issuer of fixed index and fixed-rate annuities, serving retirement savers through a similar independent-advisor distribution channel and reinsurance model. Acquired by Apollo Global Management, it is the most direct competitor in scale and product mix to American Equity's FIA focus.
• Corebridge Financial: Corebridge (formerly AIG Life & Retirement) is one of the largest U.S. annuity writers with a heavy fixed-index and fixed-rate annuity book. It shares American Equity's retirement-income focus, similar A.M. Best tier of ratings, and reliance on independent advisors and financial professionals.
• Jackson National Life Insurance Company: Jackson is one of the leading U.S. variable and fixed-index annuity issuers with strong independent-advisor distribution. Its Elite Index suite overlaps directly with American Equity's IncomeShield family for retirement-income advisor recommendations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/117093704985573
• LinkedInlinkedin.com/company/american-equity
• Xx.com/AmericanEquity

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Equity Investment Life Holding Company