American Equity to Oppose Proposed Rule Regarding Index Annuities

WEST DES MOINES, Iowa, Jun 26, 2008 (BUSINESS WIRE) -- American Equity Investment Life Holding Company (NYSE: AEL) is a leading underwriter of index annuities, which were the topic of a proposed rule discussed by the Securities and Exchange Commission in its open meeting held yesterday, June 25, 2008. The proposed rule would change the interpretation of the exclusion for annuities under the Securities Act of 1933 and require future registration of index annuities as securities. AEL intends to oppose this change through all available channels during the rule-making process, which will include a comment period and a later opportunity for judicial review. Based on the existing law, index annuities are insurance products, not securities, to the same extent as traditional fixed-rate annuity products. Regardless of the outcome of the rule-making process, AEL believes that opportunities for growth in the fixed-rate and index annuity markets remain very attractive. AEL will continue to work closely with its field force of licensed, independent insurance agents to provide excellent insurance products and superior service.