NU Online News Service, Dec. 30, 2003, 12:07 p.m. EST – American Equity Investment Life Holding Company, West Des Moines, Iowa, says it has raised more than $173 million through its initial public stock offering.[@@]
American Equity also has raised another $11.6 million by selling trust preferred securities through a private placement.
The founders of American Equity started the company in 1995 by acquiring two large blocks of life business from subsidiaries of The Statesman Group Inc., Des Moines, Iowa. American Equity later acquired Century Life Insurance Company, Waverly, Iowa, and started a subsidiary domiciled in New York.