Brookfield Re units its annual shareholders assembly – identify change in sight

Brookfield Reinsurance has introduced its upcoming annual normal and particular assembly of shareholders, which will likely be held on July 22, 2024.

One of many key subjects that will likely be mentioned within the annual assembly is the change of the corporate identify – from Brookfield Reinsurance to Brookfield Wealth Options.

“We may also be looking for approval from shareholders to implement modifications designed to simplify and improve our capital construction, together with a re-designation of our class A-1 exchangeable non-voting shares into class A exchangeable restricted voting shares of our firm (class A shares) and associated modifications to the phrases of the category A shares that can end in no shareholder having the facility to vote greater than 9.9% of the category A shares, no matter financial possession,” the corporate stated in a press release. “Shareholders may also be requested to approve the issuance of sophistication A shares in a number of potential future transactions related in nature to the alternate provide efficiently accomplished by Brookfield Reinsurance in November 2023 and structured to be non-dilutive to our shareholders, or to Brookfield Company.”

Brookfield Re CEO Sachin Shah (pictured) stated that the corporate’s change of identify would mirror how far the corporate has grown.

“Our enterprise has grown considerably since our inception in 2021, and right now provides a various line of wealth and retirement options. The proposed modifications are meant to raised mirror the character of our enterprise and additional improve our capital construction as we place ourselves for future development,” stated Shah.

The corporate said, a administration data round containing the main points of the assembly and the issues to be introduced and voted on will likely be mailed quickly to all Brookfield Reinsurance shareholders of report as of market shut on June 21, 2024, and also will be out there shortly by means of the SEC’s web site at http://www.sec.gov, on Brookfield Reinsurance’s SEDAR+ profile at www.sedarplus.ca and on Brookfield Reinsurance’s web site at bnre.brookfield.com.