Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | AMERICAN EQUITY INVESTMENT LIFE HOLDING COMPANY |
Entity Central Index Key | 0001039828 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | ||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year Summary Compensation Table Total for PEO 1 (1) ($) Compensation Actually Paid to PEO 1 (1) (6) ($) Summary Compensation Table Total for PEO 2 (2) ($) Compensation Actually Paid to PEO 2 (2) (6) ($) Average Summary Compensation Table Total for Non-PEO NEOs (3) ($) Average Compensation Actually Paid to Non-PEO NEOs (3) (6) ($) Value of Initial Fixed $100 Investment Based On: Net Income (7) ($ mil) Operating ROE (5) (7) (%) Total Shareholder Return (7) ($) Peer Group Total Shareholder Return (4) (7) ($) (a) (b) (c) (b) (c) (d) (e) (f) (g) (h) (i) 2022 46,595,558 59,692,274 — — 2,270,456 3,055,107 157.12 123.46 1,177.27 9.65 2021 7,625,826 15,232,619 — — 1,878,244 2,946,509 132.82 120.04 430.32 10.75 2020 9,417,160 9,751,778 1,377,970 1,285,733 2,324,591 2,393,601 93.47 90.20 637.95 12.16 | ||
Named Executive Officers, Footnote [Text Block] | PEO 1: Anant Bhalla, CEO and PresidentPEO 2: John M. Matovina, Former CEO and President The following (non-PEO) NEOs are reflected in the averages in columns (d) and (e): • For 2022: Axel André, James L. Hamalainen, Phyllis J. Zanghi, and Jeffrey D. Lorenzen • For 2021: Axel André, Ronald J. Grensteiner, James L. Hamalainen, Ted M. Johnson, Jeffrey D. Lorenzen, and Tolga Uzuner • For 2020: James L. Hamalainen, Ted M. Johnson, Jeffrey D. Lorenzen, and Renee D. Montz | ||
Peer Group Issuers, Footnote [Text Block] | Represents weighted peer group total shareholder return ( TSR | ||
Adjustment To PEO Compensation, Footnote [Text Block] | The following table illustrates the amounts added to and deducted from the Summary Compensation Table totals for the principal executive officers and Summary Compensation Table total average of the remaining named executive officers for the years presented in accordance with the SEC’s methodology for calculating "compensation actually paid": Fiscal Year Summary Compensation Table Total DEDUCT Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year ADD Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year ADD Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years ADD Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year ADD Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year DEDUCT Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year Compensation Actually Paid PEO 1 2022 46,595,558 (41,820,516) 50,517,358 4,339,714 — 60,159 — 59,692,274 2021 7,625,826 (3,863,120) 6,968,603 4,486,235 — 15,074 — 15,232,619 2020 9,417,160 (5,769,042) 6,103,660 — — — — 9,751,778 PEO 2 2022 — — — — — — — — 2021 — — — — — — — — 2020 1,377,970 (96,392) — 163,496 — (159,341) — 1,285,733 NEO 2022 2,270,456 (660,777) 781,224 686,178 — (21,974) — 3,055,107 2021 1,878,244 (961,350) 1,338,176 749,986 — (58,548) — 2,946,509 2020 2,324,591 (1,345,245) 1,477,010 34,304 — (97,059) — 2,393,601 | ||
Non-PEO NEO Average Total Compensation Amount | $ 2,270,456 | $ 1,878,244 | $ 2,324,591 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,055,107 | 2,946,509 | 2,393,601 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The following table illustrates the amounts added to and deducted from the Summary Compensation Table totals for the principal executive officers and Summary Compensation Table total average of the remaining named executive officers for the years presented in accordance with the SEC’s methodology for calculating "compensation actually paid": Fiscal Year Summary Compensation Table Total DEDUCT Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year ADD Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year ADD Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years ADD Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year ADD Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year DEDUCT Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year Compensation Actually Paid PEO 1 2022 46,595,558 (41,820,516) 50,517,358 4,339,714 — 60,159 — 59,692,274 2021 7,625,826 (3,863,120) 6,968,603 4,486,235 — 15,074 — 15,232,619 2020 9,417,160 (5,769,042) 6,103,660 — — — — 9,751,778 PEO 2 2022 — — — — — — — — 2021 — — — — — — — — 2020 1,377,970 (96,392) — 163,496 — (159,341) — 1,285,733 NEO 2022 2,270,456 (660,777) 781,224 686,178 — (21,974) — 3,055,107 2021 1,878,244 (961,350) 1,338,176 749,986 — (58,548) — 2,946,509 2020 2,324,591 (1,345,245) 1,477,010 34,304 — (97,059) — 2,393,601 | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | Over the time period disclosed in the Pay Versus Performance table: • the PEO and other NEO "Compensation Actually Paid" generally correlated positive with our TSR and the peer group TSR. | ||
Compensation Actually Paid vs. Net Income [Text Block] | the PEO and other NEO "Compensation Actually Paid" generally did not generally correlate positively with our Net Income due to the impact of fair value accounting for our fixed index annuity business on our Net Income, which results in volatility that is not economic in nature but rather impacts the timing of reported results; these are among the adjustments we make to Net Income to arrive at our Operating Earnings, which we regard as a more useful measure for reviewing our business performance. | ||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | PEO and NEO "Compensation Actually Paid" did not correlate positively with our Operating ROE from 2020 to 2021 due in part to the impact of the changes in fair value of outstanding option and stock awards during 2021 on the "Compensation Actually Paid" as defined under SEC rules; without such impact, the correlation would have been positive. • The PEO "Compensation Actually Paid" did not correlate positively with our Operating ROE from 2021 to 2022 due in part to the PEO's late-2022 strategic incentive award, payable only on significant, sustained increases in our Share price over five years. | ||
Total Shareholder Return Vs Peer Group [Text Block] | Over the time period disclosed in the Pay Versus Performance table: • the PEO and other NEO "Compensation Actually Paid" generally correlated positive with our TSR and the peer group TSR. | ||
Tabular List [Table Text Block] | Profitability: Operating ROE and Operating Earnings Book Value Per Share Capital Return to Shareholders Reinsured Liabilities Investment Spread | ||
Total Shareholder Return Amount | $ 157.12 | 132.82 | 93.47 |
Peer Group Total Shareholder Return Amount | 123.46 | 120.04 | 90.20 |
Net Income (Loss) | $ 1,177,270,000 | $ 430,320,000 | $ 637,950,000 |
Company Selected Measure Amount | 0.0965 | 0.1075 | 0.1216 |
Additional 402(v) Disclosure [Text Block] | The most important financial performance measures we used to link compensation actually paid to our NEOs for the most recently completed fiscal year, to our performance are: Profitability: Operating ROE and Operating Earnings Book Value Per Share Capital Return to Shareholders Reinsured Liabilities Investment Spread See Appendix A for definition of non-GAAP financial measures. | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Profitability: Operating ROE and Operating Earnings | ||
Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Book Value Per Share | ||
Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Capital Return to Shareholders | ||
Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Reinsured Liabilities | ||
Measure [Axis]: 5 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | Investment Spread | ||
Anant Bhalla [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 46,595,558 | $ 7,625,826 | $ 9,417,160 |
PEO Actually Paid Compensation Amount | $ 59,692,274 | $ 15,232,619 | $ 9,751,778 |
PEO Name | Anant Bhalla | Anant Bhalla | Anant Bhalla |
John M. Matovina [Member] | |||
Pay vs Performance Disclosure [Table] | |||
PEO Total Compensation Amount | $ 1,377,970 | ||
PEO Actually Paid Compensation Amount | $ 1,285,733 | ||
PEO Name | John M. Matovina | ||
PEO [Member] | Anant Bhalla [Member] | Stock Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (41,820,516) | $ (3,863,120) | $ (5,769,042) |
PEO [Member] | Anant Bhalla [Member] | Equity Awards Granted During The Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 50,517,358 | 6,968,603 | 6,103,660 |
PEO [Member] | Anant Bhalla [Member] | Equity Awards Granted In Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 4,339,714 | 4,486,235 | 0 |
PEO [Member] | Anant Bhalla [Member] | Equity Awards Granted During The Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | Anant Bhalla [Member] | Equity Awards Granted In Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 60,159 | 15,074 | 0 |
PEO [Member] | Anant Bhalla [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
PEO [Member] | John M. Matovina [Member] | Stock Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (96,392) | ||
PEO [Member] | John M. Matovina [Member] | Equity Awards Granted During The Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | John M. Matovina [Member] | Equity Awards Granted In Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 163,496 | ||
PEO [Member] | John M. Matovina [Member] | Equity Awards Granted During The Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
PEO [Member] | John M. Matovina [Member] | Equity Awards Granted In Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (159,341) | ||
PEO [Member] | John M. Matovina [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | ||
Non-PEO NEO [Member] | Stock Awards Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (660,777) | (961,350) | (1,345,245) |
Non-PEO NEO [Member] | Equity Awards Granted During The Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 781,224 | 1,338,176 | 1,477,010 |
Non-PEO NEO [Member] | Equity Awards Granted In Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 686,178 | 749,986 | 34,304 |
Non-PEO NEO [Member] | Equity Awards Granted During The Year, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | 0 | 0 | 0 |
Non-PEO NEO [Member] | Equity Awards Granted In Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | (21,974) | (58,548) | (97,059) |
Non-PEO NEO [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 0 | $ 0 | $ 0 |