Brookfield Re files $1.5bn shelf registration

Bermuda-based Brookfield Reinsurance has filed a shelf registration with the Securities and Exchange Commission to enables its shareholders to sell up to $1.5 billion worth of shares.

Brookfield Re said the registration will enable shareholders to sell Up to 765,488 Class A Exchangeable Limited Voting Shares of Brookfield Reinsurance and up to 243,104 Class A-1 Exchangeable Non-Voting Shares of Brookfield Reinsurance Ltd.

Under Brookfield Re's structure, the Class A shares can be exchanged with affiliated company Brookfield Corporation's Class A shares, 

Brookfield Re closed the purchase of Bermuda-based Argo late last year and is in the process of closing the acquisition of life and annuity insurer American Equity Life this quarter. 

A shelf registration allows a company to register the shares with the SEC but it can sell them over a period of three years and not immediately. 

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