The Toronto-based investment firm, which owns a majority stake in Brookfield Asset Management, reported US$1.26 billion in adjusted earnings, up 19 per cent year-over-year for the three months that ended Sept. 30. (The Logic)
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The Toronto-based investment firm, which owns a majority stake in Brookfield Asset Management, reported US$1.26 billion in adjusted earnings, up 19 per cent year-over-year for the three months that ended Sept. 30. (The Logic)
Talking point: Profits in Brookfield’s wealth unit—previously Brookfield Reinsurance—doubled during the period. The business provides capital to insurance and reinsurance firms, and owns assets in the sector. Its acquisition of American Equity Investment Life earlier this year nearly doubled its insurance assets. Brookfield expects to double the division’s holdings again, to US$300 billion, over the next five years as it pushes into new markets globally. Most of Brookfield’s other businesses showed slower growth in the quarter, while earnings in its real estate arm declined seven per cent from a year earlier.
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