Subject: BN - refocusing as insurance investor ?
Brookfield Corp. is planning to refocus itself into an investment-led insurer, marking a turn for the Canadian money manager that built its name as an owner of real assets.

For years, Brookfield used its capital to mostly invest in real assets alongside its clients in the asset management business, Chief Executive Officer Bruce Flatt wrote in a letter to shareholders on Thursday, alongside reporting second-quarter results.


“In our next evolution, we are focusing our balance sheet to back our growing insurance operations, meaning that our capital will increasingly come from individual investors via our insurance float,” he said.
https://www.insurancejournal.c...


I knew Brookfield had insurance operations and that they had been expanding them, but I missed the memo about this turn being more than just beefing up the insurance business. It looks more like Flatt wants to convert Brookfield Corp into somethiing more like Berkshire Hathaway, funding capital investments with insurance float. This is also the model that Bruce Ackman is pursuing with Howard Hughes Holdings.

Has anyone seen a good description of what the game plan is, to effectuate this transformation?