American Equity Timeline

After retiring for three days, David Noble opens American Equity’s doors with:

• Three employees
• $11 million in assets
• License to sell life insurance and annuities in one state (Iowa)

From there, American Equity embarks on a journey of rapid growth:

• Acquires 100% of Century Life Insurance Company, which adds 23 additional state licenses
• Receives A- (Excellent) rating from A.M. Best CompanyA.M. Best has assigned American Equity an “A-” (Excellent) rating, reflecting their current opinion of American Equity’s financial strength and its ability to meet its ongoing contractual obligations relative to the norms of the life/health insurance industry. A.M. Best utilizes 15 rating categories ranging from A++ to F. An “A-” rating from A.M. Best is its fourth highest rating. For the latest rating, access www.ambest.com.  Rating effective 8/2/2006, affirmed 6/26/2020.
  
  
• First company to offer a fixed indexed annuity (FIA) with indexing linked to the Dow Jones Industrial Average
• 18,000 agents under contract in 39 states plus D.C.
• Annuity sales of $1.4 billion
• Assets grow to more than $1.5 billion

Despite terrorism and a financial crisis, American Equity builds on its success and takes the company public.

• Initial public stock offering and listed on the New York Stock Exchange (AEL) in December 2003
• AEL added to the Russell 3000^® Index
• Ranked #1 Overall in Service by Advantage Group Independent Agent Survey
• Achieves #3 in FIA market share position ^https://www.winkintel.com/2019/05/overall_indexedannuitysales2018/
• Assets grow to more than $8 billion

Now licensed in all 50 states, plus D.C., American Equity’s growth continues.

• Launches Gold Eagle Program to top producing agents
• Leadership transition:  David Noble becomes Executive Chairman, Wendy Waugaman named CEO and Ron Grensteiner elevated to President of American Equity Life
• Leads industry opposition to SEC Rule 151A, which would have expanded SEC oversight to FIAs
• Relocates to current, larger facility
• Annuity sales of $13 billion
• Assets grow to more than $16 billion

American Equity builds on its success through change and adversity.

• Weathers financial crisis that afflicts many other insurers and financial institutions
• U.S. Court of Appeals vacates Rule 151A; “Dodd-Frank” legislation exempts FIAs from SEC regulation
• John Matovina named CEO
• Listed in Top 100 Workplaces in Iowa - Des Moines Register 2011, 2012, 2013, 2014
• Eagle Life Insurance Company^® diversifies distribution into broker-dealer and bank channels
• AEL added to S&P Smallcap 600^® Index
• Bonus Gold becomes top-selling FIA product of all time ^https://www.looktowink.com/2017/05/top-selling-indexed-annuities-time/
  
• Annuity sales of $22 billion; #3 in FIA market share ^https://www.winkintel.com/2019/05/overall_indexedannuitysales2018/
• Assets grow to more than $36 billion (Statutory)

• Commemorates 20^th Anniversary
• Grows to over 500 employees
• Hosts 100^th Client Appreciation Event
• Listed in Top 100 Workplaces in Iowa – Des Moines Register
  •  2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019
• Assets grow to $57.67 Billion (Statutory)  1^Liabilities as of December 31, 2019 are $54.18 Billion