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 Company
- 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
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