Brookfield Reinsurance Posts Strong Q1 Growth

Brookfield Reinsurance Ltd. (TSE:BNRE) has released an update.

Brookfield Reinsurance Ltd. has reported robust financial performance for Q1 2024, with a significant jump in distributable operating earnings to $279 million from the previous year’s $145 million, and a net income of $337 million, marking a turnaround from a net loss of $93 million. This growth is attributed to strong annuity sales, including from the newly acquired American Equity Life, and improved investment income. The company also declared a regular quarterly distribution and is poised for further expansion.

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