Brookfield Turns Focus to Insurance as Source of New Capital

Brookfield Corp. is planning to morph into an investment-led insurer, marking a turn for the Canadian money manager that built its name as an owner of real estate and hard 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.