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| AEL > SEC Filings for AEL > Form 8-K on 5-Jun-2009 | All Recent SEC Filings |
5-Jun-2009
Regulation FD Disclosure
American Equity Investment Life Holding Company ("AEL") held its Annual Meeting of Shareholders on June 4, 2009. Highlights of the presentations made by management at the meeting include the following:
º Annuity sales to date during the second quarter of 2009 reached record
levels with $357 million in April and $379 million in May.
º Year-to-date annuity sales through May 31, 2009 were $1.4 billion
º AEL's new commission structure is effective June 1, 2009 and requires the
deferral of 25% of sales agent commissions on most products over a two year
period following the date of sale. The impact of this commission change on
the level of sales after June 1, 2009 can not be estimated with any degree
of certainty.
º With respect to index annuities sales in April and May, over 60% of total
premiums were allocated by the policyholders to the fixed rate interest
crediting strategy available in all such products.
º AEL has purchased $4.3 billion of new investments with an average yield of
6.3% year-to-date as of May 31, 2009.
º AEL has no investments in commercial mortgage backed securities. The
company's commercial mortgage loan investments consist entirely of whole
loans underwritten by AEL's staff according to specified criteria. The
company has experienced no losses to date on any of its commercial mortgage
loans, which includes over 900 individual loans.
º AEL anticipates filing a registration statement within the next sixty days
with the Securities and Exchange Commission for its first registered index
annuity
º In May 2009, AEL completed an exchange of 5 million shares of its common
stock for approximately $37.2 million of its senior convertible notes. On a
pro forma basis this exchange resulted in a 2.8% reduction in its book
value per common share outstanding from $9.67 to $9.40 at March 31, 2009.
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