Iowa insurer sells in $4.3 billion deal

WEST DES MOINES — An insurance company in central Iowa is the subject of a high-dollar sale.

West Des Moines-based American Equity Investment Life Holding Company is being purchased by Brookfield Reinsurance of Bermuda in a deal that’s reportedly worth $4.3 billion. Brookfield says it will maintain an Iowa presence, but didn’t specify how many of the current staff will be kept on.

American Equity is one of the country’s biggest retirement insurance providers, and reported a total workforce of 840 last year. That includes the headquarters in West Des Moines and offices in Miami, New York, and Charlotte, North Carolina.