American Equity Investment Life Insurance Company

American Equity Investment Life Insurance Company
5000 Westown Parkway
Suite 440
West Des Moines   IA   50266
Phone: 515-221-0002

AEILIC or the American Equity Investment Life Insurance Company is a financial corporation focused on the sale and development of annuity and insurance packages. The company’s products portfolio includes traditional fixed interest rate annuities, fixed-indexed interest rate annuities, and also life insurance packages, as well as some tax deferred retirement accumulation products.

Founded in 1980 as Century Life Insurance Company, the company changed its name and operates under the current name of American Equity Investment Life Insurance Company since January 1997. The company’s headquarters are located at 6000 Westown Parkway, West Des Moines, Iowa, 50266. American Equity Investment Life Insurance Company operates as a subsidiary of American Equity Investment Life Holding Co., a leading underwriter of life insurance packages and fixed annuity, which was incorporated in 1995.

American Equity Investment Life Holding Company is selling fixed rate annuities and fixed index as well, and other products and services in 50 states through its subsidiaries, AEILIC of New York, the American Equity Investment Life Insurance Company, and the Eagle Life Insurance Company.

Fixed rate annuities that are deferred and sold by the American Equity Investment Life Holding Company include guaranteed  multi-year rate packages and also annual reset which have an annual interest rate that is given a guarantee for the first year and is generally ranging from 2% to 4%.

AEILIC also underwrites SPIAs or single premium immediate annuities providing payments for life or for a specific period of time. These products target clients at retirement age who wish steady payments over the future years.

Over 80% of the company’s products are sold through independent agencies for insurance, but the distribution channels also include banks, broker dealers, and career insurance agents.

At the beginning of August 2010, American Equity Investment Life Holding Company reported record operating income of $29.2 million for the second quarter of 2010, a 35% increase over 2009 second quarter operating income of $21.6 million. The company’s reported operating income for the first six months of 2010 was as high as $55 million, compared to the $44.9 million operating income for 2009 first two quarters.

The company’s total revenues amounted $1.189 billion in 2009 and $417.7 million by the end of June 30, 2010. The net income reported by American Equity Investment Life Holding Company was of $68.5 million in 2009, and of $13.5 million for the first half of 2010, as compared to the net income of $35.5 million reported for the first half of previous year.

At the end of the 1st quarter of 2010, American Equity Investment Life Holding Company reported holding a market share of 11,4% from the total index annuity market, up 28,5% from the 1st quarter of the previous year.

AEILIC has a board of 12 members chaired by David.J. Noble, Chairman of the Board. Key executives of the company are represented by Wendy C. Waugaman, Chief Executive Officer and President, John Matovina, Chief Financial Officer, Vice Chairman & Treasurer, Ronald J. Grensteiner, President of American Equity Investment Life Holding Co, James M. Gerlach, Executive Vice President, Terry A. Reimer, Executive Vice President, and Debra J. Richardson, Senior Vice President and Corporate Secretary.