Brookfield Re schedules its annual general meeting – name change in sight | Insurance business America
Critical decisions should be discussed at the meeting, the company said
Occupational risks
By Noel Sales Barcelona
Brookfield Reinsurance has announced its upcoming annual meeting of shareholders and special meeting of shareholders to be held on July 22, 2024.
One of the main topics discussed at the annual meeting is the change of the company’s name – from Brookfield Reinsurance to Brookfield Wealth Solutions.
“We will also seek shareholder approval to implement changes designed to simplify and improve our capital structure, including a renaming of our Class A-1 exchangeable non-voting shares to Class A exchangeable restricted voting shares of our company (Class A Shares ) and related changes to the terms of the Class A Shares, which will result in no shareholder being entitled to vote more than 9.9% of the Class A Shares, regardless of beneficial ownership,” the company said in a statement. “Shareholders are also asked to approve the issuance of Class A shares in one or more potential future transactions that are similar in nature to the exchange offer successfully completed by Brookfield Reinsurance in November 2023 and are structured to be beneficial to our shareholders or Brookfield will not cause any dilution.” Group.”
Sachin Shah, CEO of Brookfield Re (pictured), said the company’s name change would reflect how much the company had grown.
“Our company has grown significantly since our founding in 2021 and today offers a diverse range of wealth and retirement solutions. The proposed changes are intended to better reflect the nature of our business and further improve our capital structure as we position ourselves for future growth,” Shah said.
The company stated that a management information circular setting out the details of the meeting and the topics to be presented and voted on will be mailed to all Brookfield Reinsurance shareholders of record as of the close of trading on June 21, 2024 and will also be available shortly on the SEC’s website at http://www.sec.gov, on Brookfield Reinsurance’s SEDAR+ profile at www.sedarplus.ca and on Brookfield Reinsurance’s website at bnre.brookfield.com.
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2024-06-28 13:10:00
www.insurancebusinessmag.com
