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Subsequent Events | 12 Months Ended
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Dec. 31, 2024
Subsequent Events [Abstract] |
Subsequent Events | 29. Subsequent Events The Company evaluated all events and transactions through March 31, 2025, the date the accompanying consolidated financial statements were issued. On January 10, 2025, the Company issued an aggregate of 12,000 shares of 7.375% Fixed-Rate Non-Cumulative Preferred Stock, Series D with a $1.00 par value per share and a liquidation preference of $25,000 per share, for aggregate net proceeds of $292 million. On February 24, 2025 the Company used the net proceeds from this offering, together with cash on hand, to redeem in full 16,000 shares of 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A issued by AEL on November 21, 2019. On January 23, 2025, American National Global Funding, a Delaware statutory trust that is not consolidated or affiliated with us, issued senior secured notes due January 2030, which bear interest at 5.550%, payable semi-annually, for aggregate net proceeds of approximately $497 million. These notes are referred to as funding agreement-backed notes (“FABN”), as the trust uses the net proceeds of the note sales to acquire funding agreements with matching interest and maturity payment terms from an insurance subsidiary of the Company. Obligations under the funding agreements will be accounted for as “Policyholders’ account balances” on the Consolidated Statements of Financial Position. On January 27, 2025, the Board of Directors of the Company declared a cash dividend of $5 million on Series B Preferred Stock. The dividend was paid on March 1, 2025 to shareholders of record as of February 14, 2025. On March 14, 2025, the Board of Directors of the Company declared a cash dividend of $6 million on Series D Preferred Stock. The dividend will be payable on April 15, 2025 to shareholders of record as of March 31, 2025.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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