American Equity Annuity Review (2026)

American Equity Investment Life Insurance Company has spent three decades building one of the largest fixed index annuity platforms in the country. Founded in 1995 in West Des Moines, Iowa, it grew almost entirely around income-focused indexed annuities sold through independent agents. In 2024, Brookfield Reinsurance bought the company and took it private. Here is how strong American Equity is today, what changed with the sale, and which annuity buyers it is built for.

American Equity's financial strength

AM Best rates American Equity A, its Excellent tier, one notch below the A+ (Superior) grade held by carriers such as Athene. S&P rates the company A, its Very strong tier, effective May 2024, and Fitch also rates it A with a stable outlook, effective July 2025. Moody's does not currently rate American Equity.

An A rating still means AM Best expects American Equity to have a strong ability to meet its obligations to policyholders. It sits a step below the top tier, so buyers whose rule is "A+ or better" should compare it with Athene, North American or Midland National. The company reports more than $75 billion in total assets, which reflects its standing as one of the largest dedicated fixed index annuity writers in the country.

A rating measures a company's ability to pay claims. It does not tell you whether a specific product fits your plan.

Your state's guaranty association adds a second layer of protection up to a state-set limit. See our state guaranty association guide for the amount where you live.

American Equity is now a Brookfield company

The detail every buyer should know: in 2024, Brookfield Reinsurance, the insurance arm of Brookfield Asset Management, completed a roughly $4.3 billion purchase of American Equity at $56.50 a share. The deal took a publicly traded insurer private and folded it into Brookfield's growing annuity platform.

American Equity is itself a fairly young carrier. David Noble founded it in West Des Moines in 1995, and it grew into one of the top sellers of fixed index annuities in the country well before the sale. Evaluating American Equity today really means evaluating a Brookfield-owned insurer. That is not automatically a downside. Brookfield brings a large, well-capitalized institutional owner to the balance sheet. It is, though, a genuine change from the company's history as an independent public insurer, and it is worth weighing alongside the rating itself.

What annuities does American Equity sell?

American Equity sells two kinds of contracts.

• Fixed index annuities. The AssetShield, IncomeShield and FlexShield lines credit interest based on the performance of a market index, with a floor that keeps your principal from falling when the index drops. Optional riders add guaranteed lifetime income.
• Multi-year guaranteed annuities. A smaller, fixed-rate lineup for buyers who want a locked-in rate rather than index-linked growth.

Rates and terms change often, so we do not print live numbers here. Use the quote box on this page to see what American Equity and comparable carriers are paying today.

American Equity's fixed index annuity lineup

AssetShield

American Equity's main accumulation-focused FIA. It offers a choice of index crediting strategies with a guaranteed floor, so your account value cannot fall because of index losses. It suits buyers who want to build a lump sum over time without taking on market risk.

IncomeShield

An income-focused FIA built around a guaranteed lifetime withdrawal benefit. You get index-linked growth potential plus an income floor you cannot outlive once withdrawals start. It is a common choice for people five to fifteen years from retirement who want to lock in future income now.

Retirement Gold

A bonus-oriented FIA that pairs an upfront premium bonus with an enhanced income rider. It fits buyers who want extra initial accumulation alongside a long-term income guarantee. Ask for the specific bonus schedule and how much of it vests immediately versus over time before you sign.

Who is American Equity best for?

• Buyers who want a dedicated FIA specialist. American Equity has built its business around fixed index annuities and their income riders rather than treating them as one product line among many.
• Retirement savers comparing income riders side by side. IncomeShield and similar riders are frequently competitive on guaranteed income per premium dollar, so it is worth quoting against other income-rider carriers.
• Existing American Equity clients who want to keep working with the same carrier and understand what the Brookfield sale changed.
• MYGA buyers who also want an FIA quote from the same company in a single comparison.

Contact American Equity

We can compare American Equity with other top-rated fixed index annuity carriers side by side, so you can see how the numbers stack up before you decide.