BROOKFIELD, NEWS, December 9, 2022 (GLOBE NEWSWIRE) — Brookfield Reinsurance ((NYSE, TSX:BAMR) (“Brookfield Reinsurance” or the “Company”) announced today that it has paid the previously announced special distribution (the “Special Distribution”) of shares in Brookfield Asset Management Ltd. (the “Manager Shares”) to the holders of our Class A Exchangeable Limited Voting Shares (“Class A Exchange Shares”) and Class B Limited Voting Shares.

The special distribution

The special distribution was completed by a capital return, resulting in a reduction in the par value of our Company’s Class A Exchange Shares and Class B Limited Voting Shares of $5,481 per share.

The name change

Brookfield Reinsurance also announced today that it has changed its name to Brookfield Reinsurance Ltd. The Company’s exchangeable Class A shares, which will be listed on both the New York Stock Exchange and the Toronto Stock Exchange, are expected to trade under the Company’s new name and trading symbol “BNRE” at market open on or about Trading on Wednesday, December 14, 2022. Our exchangeable Class A Shares will continue to be and remain the economic equivalent of Class A Limited Voting Shares of Brookfield Corporation (formerly Brookfield Asset Management Inc.) on a one to one basis exchangeable.

The company’s name change to Brookfield Reinsurance Ltd. will not affect the rights of Brookfield Reinsurance shareholders and shareholders are not required to take any action in relation to the name change.

Note to readers

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor is there any distribution of any securities in any jurisdiction where such offer, solicitation or distribution prior to registration or qualification would be unlawful under the securities laws of such jurisdiction.

Information in this press release that is not historical fact is…