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Actionable news in AEL: AMERICAN EQUITY INVESTMENT LIFE HOLDING COMPANY,

Macquarie: New Fiduciary Rule Not A 'Game Changer' For AIG And American Financial

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Macquarie said the recent Department of Labor (DOL)'s finalized fiduciary rules for advisors and qualified retirement plans is not a "game changer" for property/casualty insurers with annuity operations such as American International Group Inc AIG 1.85% and American Financial Group Inc AFG 0.75%.

"Our discussions with industry participants reveal this is not a game changer for the P/C companies with annuity operations, with the caveat that the companies are still going through documentation," analyst Amit Kumar wrote in a note to clients.

Kumar said one of the biggest...


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